Sweep money from your merchant account

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.

Sweeping overview

By default, automated sweeping isn't enabled, but you can make ad hoc payouts to the SCAN or IBAN details of your business account. To enable sweeping, you must either:

• Configure your preferences with TrueLayer's sweeping endpoints, as explained on this page.
• Set it up in Console.

Sweeping can be useful if you want to ensure that the account balance of your merchant accounts doesn't exceed a certain amount. For example, if you want to make sure your GBP merchant account never has a balance of over £10,000.

To set up sweeping, you need to:

1. Complete the TrueLayer KYC process with your IBAN.
2. Ask your point of contact at TrueLayer to enable sweeping for your account.
3. Use the sweeping endpoints to configure your preferences.

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What IBANs do we support?

To sweep from your GBP merchant account, the destination account details for sweeping must be a GB IBAN (these IBANs start with "GB").

To sweep from your EUR merchant account, the destination account details can be any IBAN that is connected to SEPA. You can check iban.com to know if the IBAN you'd like to sweep to is connected to SEPA.

References

On bank statements, references for sweeping payments are standardised. They are always formatted to include the date and time that the sweeping payment occurred, like this: TL YYYY-MM-DD HH:MM.

Set up account sweeping

To set up sweeping for a given currency for a given merchant account, make a POST request to the /v3/merchant-accounts/{merchant_account_id}/sweeping endpoint. Ensure you provide the merchant account id to set up sweeping for as a path parameter in your request.

Your request must include an access_token with the payments scope as a bearer header and must also be signed.

Include these requests in the body of your request to specify the currency to sweep from, the amount of money to sweep over, and how often to sweep:

This is an example of a request to the /v3/merchant-accounts/{merchant-account_id/sweeping} endpoint:

curl -X POST \
  -H "Authorization: Bearer $access_token" \
  -H "TL-Signature: $signature" \
  --data '{
    "currency": "GBP",
    "max_amount_in_minor": 100000,
    "frequency": "daily"
  }' \
  https://api.truelayer.com/v3/merchant-accounts/{id}/sweeping

Update account sweeping settings

You can update existing sweeping settings such as frequency or max_amount_in_minor. To update these settings, make an additional POST request to the /v3/merchant-accounts/{merchant_account_id}/sweeping endpoint, including the updated values for your settings. We use the settings in the most recent request you've submitted for each currency and merchant account id.

Get existing sweeping settings

To see the sweeping settings for a given merchant account's currency, make a GET request to the /v3/merchant-accounts/{id}/sweeping endpoint. If you haven't enabled automated sweeping, the endpoint returns a 404 error.

curl -H "Authorization: Bearer $access_token" https://api.truelayer.com/v3/merchant-accounts/{id}/sweeping

The response you get from the /v3/merchant-accounts/{id}/sweeping endpoint contains the following objects:

This is an example of the response you receive:

{
  "results": [
    {
      "currency": "GBP",
      "max_amount_in_minor": 100000,
      "iban": "GB43BUKB20201666666666",
      "frequency": "daily"
    }
  ]
}

Disable merchant account sweeping

To disable automated sweeping for a given merchant account's currency, make a DELETE request to the /v3/merchant-accounts/{id}/sweeping endpoint. This not only disables sweeping, but also deletes the associated sweeping settings. Include the id of the merchant account you want to disable sweeping for as a path parameter, and the currency in the request body.

Your request to the /v3/merchant-accounts/{id}/sweeping endpoint contains this parameter:

This is an example of a request to disable merchant account sweeping:

curl -X DELETE \
  -H "Authorization: Bearer $access_token" \
  -H "TL-Signature: $signature" \
https://api.truelayer.com/v3/merchant-accounts/{id}/sweeping

A successful request to disable merchant account sweeping returns a 204 response.