Concentrate idle funds from various accounts to one account for better yields earning of interest rate
Cash Sweeping is the active facility through which surplus cash balances in the customer’s multiple demand deposit account(s) shall be swept at the end of registered transfer day:
- Automatically into a defined demand deposit account of the customer with Shinhan Bank/another bank; or
- Automatically into a defined demand deposit account of the customer’s Parent/Child company with Shinhan Bank/another bank. In this case, the customer must be owned/owns 100% by the Parent/Child company.
Fast, convenient and safe cash sweeping transactions
No service registration and maintenance fee
This service is not applied for capital accounts/indirect capital accounts/escrow account/accounts of non-resident customers.
Debit Accounts and Credit Account must have same currency.
Minimum balance of Debit Account cannot be negative. Maximum transfer amount must be greater than zero.