Overnight Sweeping – Making Your Money Work for You
29th July 2025It might not be relevant to some, but for those fortunate to have spare cash in the bank, overnight sweeping allows for maximisation of interest earned by automatically transferring monies between current and deposit accounts.
Very few banks offer interest on current accounts, and the rates are often very low if they do, so why not keep surplus cash in a deposit account where it can earn a few more pennies? The fact that this can be performed automatically each day by the banks means there is very little input needed from individuals or businesses once the initial set up has been completed.
Of course, the flip side to this is that there may be increased bank charges for doing this, so please remember to check when researching if this will be beneficial for you or your business.
