An auto-sweep will automatically transfer funds from your other pre-nominated Auswide Bank accounts to help make a payment you have arranged.
It saves you worrying about a cheque you write being dishonoured or a direct debit/external payment being rejected due to a shortfall of funds in the account to be debited.
- Auto-sweep checks for sufficient cleared funds in up to 5 other Auswide Bank accounts in turn
- If the total payment amount is not available in one of the nominated accounts - a part-amount will be debited from each account^.
- Save on the embarrassment of having a cheque 'bounce' or payment 'reject'
- Save on cheque dishonour or payment reject fees
To arrange/change/cancel an Automatic Sweep:
Complete and sign an Automatic Sweep Authority form.
You may nominate up to 5 other accounts (in order of preference) (excluding Christmas Saver Account, Term Deposits and Loan accounts).
This facility will automatically check each account for sufficient cleared funds to attempt to transfer the amount to the nominated account to cover personal cheques, electronic direct debits and periodic payments.
The required number of account Signatories are to sign.
This form can also be used to cancel an Automatic Sweep or to change the accounts from which to transfer.
Once complete please return forms to your nearest Auswide Bank branch; or post to: Reply Paid 1063, Bundaberg QLD 4670; or alternatively, fax through to (07) 4152 3499.
Please allow 3 working days from receipt by Auswide Bank for processing.
This information is a summary of features & benefits only - full details, including any applicable fees & charges, are available in the relevant terms and conditions.
^ If the full amount of the cheque or payment cannot be transferred, no auto-sweep transfer will occur
