Liquidity Management

Key Facts

Auto sweeps and auto covers - Optimise your liquid resources

The Autosweep solution allows for one concentration account. To ensure full control of your accounts, operational funds may be held in the various accounts around the country and any surplus funds above a pre-agreed threshold will be swept into the main account or a call account.

The Autocover solution provides a convenient and easy method of covering cheques or payments as they are presented into your payment account for payment. Once a threshold has been agreed for the payment accounts, a cheque or payment whose amount exceeds that available in the account or should the net effect of the payment take the account below the threshold then Autocover kicks in, funds are swept into the payment account from the main account or the call account and the account goes back to the threshold.

The cheque is therefore honoured, assuming that there are sufficient funds in the covering account. It is important to note that the cover does not sweep back all the funds in the call A/C it only sweeps enough to cover the payments and bring the account balance back to threshold.

For more details contact us on:-
Tel: +260 211 366150