Frequently Asked Questions

What is ‘sweeping’?

Sweeping helps you earn interest on funds that you don’t need on a day-to-day basis. It does this by automatically managing the balances on your Signature Current Account and Signature Savings Account. There is no fee for using the sweeping service.

You simply set a minimum and maximum balance on your Signature Current Account. When either of these limits is reached, we automatically sweep the funds to or from your Signature Savings Account. Funds sweeping happens overnight.

If your Signature Current Account balance is higher than your maximum limit, the excess funds are swept to your Signature Savings Account.This means you earn interest on the additional funds in your Signature Savings Account.

If your Signature Current Account balance falls below your minimum limit, funds will be swept from your Signature Savings Account into your Signature Current Account.This will return your Signature Current Account balance back to the minimum limit you have set. If you don’t have enough funds in your Signature Savings Account to return your Signature Current Account back to the minimum limit, any funds in your Signature Savings Account will still be swept across.

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