How it Works


How it Works


Sweeps and Target Balance 
Overdraft Process
Manual Transfers
Wire Transfers
Aggregator Services
TotalCash® Manager (TCM)
Client Online Access
Client Online Statements
Deposit and Withdraw Options

 

Sweeps and Target Balance

In addition to traditional deposits and withdrawals, the SEI Cash Access Account (CAA) also offers an initial (first-time) and monthly sweep between the client’s SEI Private Trust Company (SPTC) account and the CAA.

Funds will be swept to fund the CAA account on the first business day after it is opened. This will occur regardless of whether additional deposits are included with the original application. The monthly sweep will take place on the 20th day of each month (or the first business day thereafter) to reach the Target Minimum or Target Maximum balance elected in the original application. If a Target Minimum balance is not designated in the original application, it will be set at $5,000.  Designating a Target Maximum balance is optional.

The Target Minimum balance is the lowest amount to be available in the CAA after the monthly sweep. If the CAA account balance is less than the Target Minimum amount, Bancorp will sweep funds from the linked SPTC account to bring the account balance up to this minimum.

The optional Target Maximum balance is the highest amount to be available after the monthly sweep. If the CAA account balance is more than the Target Maximum, Bancorp will sweep funds from the CAA to the linked SPTC account to bring the account balance down to that maximum.

The automatic sweep transfer to the SEI CAA will be satisfied from the linked SPTC account in the following order:

  • Money Market assets in linked SPTC account (excludes DCA/Holding MMs)
  • If Model: Sold proportionately across model up to 90% (by value) of the assets present
  • If Non-Model: Sold proportionately up to 90% (by value) of the SEI mutual funds in the account

Trades will be placed on the first day of the sweep process. There will be follow up sweeps each day (maximum of 6 follow ups) to collect any settled trades until the Target Minimum has been met.  If minimum cannot be met, sweep will be abandoned and will resume again the following month if needed. 

Please note that certain mutual funds and other assets held at SPTC cannot be liquidated to satisfy the Target Minimum. DCA/Holding Money Market funds are excluded. Please see How Overdrafts Work for information on how linked SPTC accounts are used for overdraft purposes.

Funds being transferred from the CAA account to the linked SPTC account will be invested in one of the 3 options set below. To request the selection made at the time of application for your client, please contact SEI CAA.

  • SDIT Government Fund Class A
  • SEI Institutional Tax-Exempt Money Market Fund Class B
  • Current Portfolio

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Overdraft Process

The integration between the SEI Cash Access Account (CAA) and the linked SPTC account can assist with payment of checks or bill pay requests if the item creates an overdraft in the CAA.

All activity in the account will initially process through available funds in the CAA. We may use the CAA funds to partially pay an item, and look to alternative sources for the outstanding balance.

If a Securities-Backed Line of Credit (SBLOC) was set up for overdraft protection, we will draw from the available line to pay the item. Clients will be able to repay the SBLOC principal at their convenience.

If SBLOC funds are not available, we will look to the linked SPTC account to pay the item. Please note that if the linked SPTC account is accessed for overdraft purposes, the funds must be available in cash at the time of presentment; other assets held at SPTC cannot be liquidated to satisfy an overdraft. We will pull available funds from money market assets first, then principal cash, and finally the DCA/Holding account.

 

 

 

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Manual Transfers

Manual Transfers offer the capability to move money between the SEI Cash Access Account (CAA) and the linked SEI account outside of the regularly scheduled sweep process. You may find the manual transfer form here.

Manual Transfers take place the morning of each business day.  Manual Transfers to and from the CAA and the linked SEI account must be made from available cash at the time of transfer and no trades will be placed in the linked SEI account to manually transfer funds to the CAA. Funds moving to the linked SEI account will be invested per the election indicated on the CAA application.

Please Note: If the amount you are requesting to be transferred to a CAA is not cash available, please use the SEI Distribution Form (Non-IRA) to raise cash and transfer funds.

Clients have the capability to initiate a Manual Transfer on the end client website (www.SEICashAccess.com ) under the Funds Transfer tab, verbally to our call center or by utilizing the above referenced form.

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Wire Transfer Agreement and Security Procedures

A completed Wire Agreement is required for all Trust and Entity accounts that expect to send wires. The Agreement is also required for Personal accounts if the client would like to send a wire via telephone request or a 3rd party will be sending wires on the client’s behalf. Each part of the Wire Agreement captures specific information regarding the client, the account, 3rd party authorizations, and security via Caller ID and PIN authorizations.

Any trustee or business signer on an account is required to be on the Wire Agreement as an authorized representative if they would like the ability to send wires on behalf of the account.

Please note: Financial professionals are not authorized to send wires on a client's behalf.

Wire Transfer Agreement may be found here.

Domestic Wire Transfer Request Form may be found here.

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Aggregation Services for Cash Access Account

SEI and Bancorp have teamed up to provide Cash Access Account (CAA) detail to a number of aggregation services. Currently the CAA information and activity detail may be accessed on the following data vendors:

  • Albridge
  • dbCams
  • Centerpiece
  • eMoney

Steps to view your clients’ CAA information and activity detail on eMoney:

  1. Log on to the eMoney Advisor website
  2. Click on ‘Start’
  3. Select ‘Connection Console’
  4. Click on ‘Add a Connection’
  5. Search for the Source Name: ‘Bancorp – via Direct Feed’
  6. Enter in your ‘SEI Advisor ID’

If you are presented with any issues in viewing the information please reach out directly to the data vendor.

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TotalCash® Manager (TCM)

TCM gives advisory firms the ability to view the details of their clients’ accounts via an easy-to-use, secure website. Each firm must complete the TCM agreement to designate a company administrator; only one TCM agreement is required per firm. New CAA and SBLOC applications should include the TCM Company ID and firm name in order to be added to the administrator’s user ID. The administrator has the ability to designate additional users within the firm and then assign accounts for users to view.

You can register up to three devices (computer, mobile phone, tablet, etc.) to log on to TCM. As an added security measure, your log-in may prompt an automated text message or phone call with a one-time PIN if you attempt to log in from an unrecognized device. Please ensure your contact information is up to date at all times. You can access your contact information by navigating the TCM website to Administration > Personal Preferences.

TotalCash® Manager (TCM) Agreement 
TotalCash® Manager Reference Manual/User Guide

Log in to TCM: https://tcm.ebanking-services.com

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Client Online Access

Clients are able to view all of their transactions online using Online Banking. For an overview of the information available to clients, please click here. For insight into your clients’ accounts, you can use TotalCash Manager (TCM) to view transaction history.

  

Client Online Statements
To learn more on how clients can sign up for online statements, click here.

Deposit and Withdraw Options

There are many easy ways to deposit money into an SEI Cash Access Account (CAA). Here are the options to fund an account:

Initial (First-Time) Account Funding
On the first business day after an account is opened, we will initially fund the CAA checking account from the linked SPTC account. The transfer amount is the same amount indicated as the Target Minimum on the CAA application. Initial account funding will take place even if a check is sent in for deposit. Please see How Sweeps Work for more information.

Monthly Sweep
On the 20th of each month (or the first business day thereafter) funds will automatically be transferred to or from the SEI Cash Checking Account according to the instructions as set forth on the CAA application’s Target Minimum and Target Maximum. Please see How Sweeps Work for more information.

To change a Target Minimum or Target Maximum, please contact us or use the form below.

Target Balance Change Form

Manual Transfers
Manual transfers are available online (www.seicashaccess.com) for your clients to move money between their SEI and CAA accounts. A manual transfer from SEI to the CAA will access DCA/Holdings. You may also send in a signed letter of instruction to initiate a manual transfer between SEI and Bancorp for your client.

Wire Transfers
Incoming wires
To wire funds to the CAA Checking Account, contact the Financial Institution sending the wire. You will need the CAA Bank Routing Number (031101114) and the client’s CAA checking account number.

Check/Money Order – Postage-paid, pre-addressed envelopes are available. To request additional envelopes, contact us, or clients can order when logged on to the CAA website under Account Maintenance. You can mail these into:

The Bancorp Bank
Attn. Deposit Operations
PO Box 15329
Wilmington, DE 19885-5329

Direct Deposit
To request and authorize a direct deposit of funds to a CAA Checking Account, the client must complete the Direct Deposit Form. Forward the completed form to the employer or institution sending the deposit.

Credit Card
Clients can fund the CAA Checking Account using a credit card. When logged on to the CAA website, clients should follow the instructions under the Funds Transfer tab.

Credit Card Registration

ATMs
Clients can utilize any deposit-accepting ATM for cash or check deposits. When using another bank’s ATM to make a deposit, the deposit will be credited to the SEI Cash Access Account. The machine accepts deposit envelopes with cash, money orders and checks, plus a receipt is issued with the transaction. Checks must be endorsed with the account name and account number. (Note: not all ATMs accept deposits; Visit www.seicashaccess.com to find an ATM that accepts deposits.

Funds may take up to 5 business days to be credited to the account.

Withdraw Options

There are several ways clients can access their funds.

  • Check writing
  • ATM withdrawal
  • Point-of-Sale purchase (with Visa debit card)
  • Automated Clearing House (ACH) payments
  • Wire transfers

 

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This SEI Cash Access Account service is made available by SEI Investment Company to its custodial clients. Banking services are provided by The Bancorp Bank, Member FDIC, which is not affiliated with SEI Investment Company or any of its other subsidiaries. © 2009-2016 SEI

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