Answer / bhupender janmejai

A sweep account is actually a combination
of two or more accounts at a bank or financial
institution. It is useful in managing a
steady cash flow between a cash account
where scheduled payments are made from
and an investment account where the cash
is able to accrue a higher return.

Answer / madhulika2011

A bank account that automatically transfers amounts that exceed (or fall short of) a certain level into a higher interest earning investment option at the close of each business day. Commonly, the excess cash is swept into money market funds.

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