Okuzeka
Finance & Banking vocabulary · Accounts & Deposits

Sweep account

Meaning in finance & banking, with examples

nounAdvanced term

In finance & banking, sweep account means: An account arrangement that automatically moves funds according to a balance rule or schedule.

In Turkish: otomatik aktarım hesabı

How it is used

State where funds are swept; destinations and product protections differ between arrangements.

Example sentences

  1. The sweep account moved surplus cash into the designated deposit each evening.

    A standing rule replaces a separate transfer instruction each day.

  2. Treasury raised the balance threshold on the sweep account before payroll.

    Changing the threshold changes how much cash remains available locally.

Common collocations

  • sweep account threshold
  • automatic sweep account
  • current accountAn everyday bank account for receiving a salary, paying bills and making card payments. It pays little or no interest, and the money can be used at any time.
  • depositMoney that you put into a bank account, or the act of putting it there. For a bank, customer deposits are its main source of funding.

More terms: Accounts & Deposits

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This page explains English vocabulary for learners. It is not financial advice.