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Question about how Sweeper works

15.07.2019 16:02 #1
I'm thinking of setting up a sweeper to increase my savings but I'm a bit confused as to how they're structured. It looks like I need to set up a specific Sweeper Account to facilitate it. Correct? Is there any fees with this account? Can I transfer money freely between this Sweeper Account and my existing ones (Current and Savings)?
16.07.2019 11:34 #2
Verified representative
Originally posted by talking_walnut
I'm thinking of setting up a sweeper to increase my savings but I'm a bit confused as to how they're structured. It looks like I need to set up a specific Sweeper Account to facilitate it. Correct? Is there any fees with this account? Can I transfer money freely between this Sweeper Account and my existing ones (Current and Savings)?

Hi Talking_walnut,
 
Thanks for getting in touch.
You’ll need to open a smart move online account in order to use the ‘sweeper’ function. Once set up you can transfer funds in and out of this account and there is no maintenance fees for this account. If you have any more queries please don’t hesitate to contact our customer services team on 1800 93 92 44 or +353 1 664 6100 from overseas.
 
Thanks,
Lauren
1 thank
16.07.2019 11:37 #3
Originally posted by AskKBC: Lauren
Originally posted by talking_walnut
I'm thinking of setting up a sweeper to increase my savings but I'm a bit confused as to how they're structured. It looks like I need to set up a specific Sweeper Account to facilitate it. Correct? Is there any fees with this account? Can I transfer money freely between this Sweeper Account and my existing ones (Current and Savings)?

Hi Talking_walnut,
 
Thanks for getting in touch.
You’ll need to open a smart move online account in order to use the ‘sweeper’ function. Once set up you can transfer funds in and out of this account and there is no maintenance fees for this account. If you have any more queries please don’t hesitate to contact our customer services team on 1800 93 92 44 or +353 1 664 6100 from overseas.
 
Thanks,
Lauren

Hi Lauren,

Thanks for the response. So I can transfer the money into the Smart Move account using a sweeper and then move it to my Savings Account manually? That sounds like exactly what I want. Thanks again
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