BNY Mellon Wealth Management has rolled out to its private banking clients Cash Management Access Accounts (CMAA).

The CMAA is a brokerage account that holds investment assets and automatically directs any uninvested cash balances to a “sweep account.” Among the sweep account options is an FDIC-insured interest bearing account. Funds to cover a client’s ATM withdrawals, check card purchases or check payments may also be redeemed from that account.

BNY Mellon Wealth Management has more than $161 billion in private client assets.