Set up sweeping in Console

What is sweeping?

Sweeping refers to automatic payments to the business account linked to your merchant account. When funds are swept are based on two criteria:

• Frequency: How often to sweep funds. Can be daily, weekly, or fortnightly.
• Maximum account balance: The balance above which you want to sweep funds.

Once set up, the balance of your merchant account is checked at the frequency you specified. TrueLayer sweeps any funds in excess of your specified maximum account balance to your linked business account.

Before you start: link your business account

Before you can set up sweeping to your business account, we need to verify your bank details for KYC purposes. This must be done for each business account you want to sweep funds to.

To do this, click Get in touch in Console, or raise a request in our help centre.

After we've verified your bank details, you can set up sweeping within the merchant account dashboard.

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Already set up sweeping?

If you have already set up sweeping with the API, the details of your configuration display within the Merchant account sweeping tab in Console.

You can edit these settings using the same process you would use to set up sweeping for the first time.

Set up sweeping

After your bank details are verified, to set up sweeping:

1. Sign in to Console.
2. Open the app with the merchant account you want to set up sweeping from.
   You can access the app from the Overview page, or go to the Apps page and select your preferred app.
3. Go to the Merchant Account tab.
   Your GBP and EUR merchant accounts display, along with their historical balances.
4. In Merchant Account, navigate to the Merchant account sweeping tab.
   If sweeping configuration options don't display, you need to link your business account .
5. To define how much and how often you want to sweep:
   1. Enter the balance above which you want to sweep funds from your merchant account to your business account.
   2. Select a frequency from Daily, Weekly, or Fortnightly to sweep funds at.
      Funds are always swept at 10:00 UTC on a Monday if you select Weekly or Fortnightly.
6. Select Set up sweeping.
   You have set up sweeping. Funds will be automatically transferred from your merchant account to your business account in line with your settings.

Edit existing sweeping settings

To change sweeping parameters or frequency:

1. Click Edit to the right of your current sweeping settings.
   Your existing settings become editable.
2. You can change:
   1. The minimum amount you want to sweep into your business account.
   2. The frequency you want to sweep funds at, when the minimum amount or greater is in your merchant account.
3. Once you've entered your new sweeping rules, click Save.

Delete existing sweeping settings

To disable sweeping:

1. Click Delete to the right of your current sweeping settings.
   The Delete merchant account sweeping dialog displays.
2. Select Delete to delete your existing sweeping settings.

This isn't permanent. You can reconfigure sweeping through Console or the API.