Original ubank FAQs

Info on original ubank products

This FAQ is related to an original ubank product that new customers can no longer access. Head to our help centre if you want info about our current ubank products.

What are Sweeps?

Sweeps are an optional smart transfer that gives you convenient access to your spending money, while helping you earn maximum interest on your savings account.

Sweeps automatically transfer money between your linked USave and USpend transaction account to help ensure two things:

  1. You have money on hand for your everyday purchases
  2. Your spare cash can earn you interest

There are two types of Sweeps:

  • Overnight Sweeps moves money between your savings and your transaction accounts overnight. Set a minimum daily balance for your USpend account (at least $100) and we’ll make sure it’s topped up to that amount every day from the funds in your USave. We’ll sweep anything over your maximum daily balance in your USpend account (at least $1,000) to your linked USave, to earn interest!
  • Live Sweeps automatically moves your money, when you need it, from your USave to USpend account to make up the difference for your bills, direct debits and funds transfers.

You can turn on this feature by opening the ubank app, selecting ‘More’ and tapping ‘Sweeps’.

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