sweep account Meaning in the Cambridge English Dictionary
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Meaning of “sweep account” in the English Dictionary

"sweep account" in Business English

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sweep accountnoun [C]

uk   us   BANKING, FINANCE
a ​bankaccount that ​automaticallytransfersmoney into another ​account or ​investment that ​payshigherinterest when the ​amount of ​money in it goes over a particular ​level: Sweep ​accountsallowsmallbusinesses to get ​higherreturns on ​cash that might otherwise be doing nothing in a ​currentaccount.
(Definition of sweep account from the Cambridge Business English Dictionary © Cambridge University Press)
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