Account Sweeping

Account sweeping periodically sweeps the available balance of a virtual account to a designated client-owned bank account. By default, automated account sweeping is not enabled.

Sweeping funds ensures you control how much balance you maintain in your virtual account. If a virtual account used for refunds or payouts also has account sweeping enabled, there may be requests that fail whenever a virtual account does not have sufficient funds.

Make sure your virtual account is set up before following these steps. For more information on setting up an account, see Managing virtual accounts.

There are two ways you can sweep funds from your virtual account:

For each virtual account you want automated account sweeping to be enabled for, provide your Account Manager with:

• The virtual account's wallet_id.

• The account details for the designated account which funds should be swept to.

The available balance of each virtual account will be swept once a day at 12:00 AM UTC indefinitely. Once your automated sweeping is set up, you can configure it within the Plaid Dashboard.

In the UK, if the sweep amount is over the Faster Payment Service £1M limit, the sweep will be sent via CHAPS. CHAPS payments are only processed on UK business days, between 6:00 AM and 6:00 PM (06:00–18:00), UK local time.

If you prefer to manually control account sweeping, you will need to manually execute a Payout each time you want to sweep funds.