Business & Corporate Enterprise Service

Account sweep is a financial service that automatically transfers funds between different accounts to maximise the use of available funds and minimise idle cash balances. It can also be used to pay down outstanding balances on lines of credit or loans. Account sweeps can be performed on a daily, weekly, or monthly basis, depending on the needs and preferences of the account holder.

In the organization hierarchy, the line of business is defined to distinctly define different cost centers for bank, and align them later to a particular branch depending on its construct and requirement. This endpoint is used to update the line of business.