Sweeping Rules

The process of automatically transferring funds between accounts based on predefined conditions is commonly referred to as "sweeping." This practice serves several purposes:

- Compliance with regulatory requirements, such as transferring standing balances before the end of the banking day.

- Optimising cash management by allocating available funds to operational accounts, maximising returns while minimising risk.

- Centralising balances for a company or group of companies.

While our Payments API is capable of handling all these scenarios, we are introducing a more streamlined solution for our clients through the use of sweeping rules. These rules allow you to set a minimum base balance that must remain in the account, with any excess automatically transferred to a specified IBAN. Sweeping rules will be reviewed and executed every night.

To activate this feature, please reach out at [email protected].