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TeachMeFinance.com - explain sweep sweep -- an arrangement to maximize the interest earned by a customer who has both a high-interest rate account and a low- or no-interest account at the same financial institution. Funds not being immediately used in the low-interest account are automatically transferred (swept) to the high-interest account, where they remain until the balance in the low-interest account drops below a certain minimum and the funds are transferred back to the first account. The funds may be swept to the high-interest account overnight, or for longer periods of time. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.