Last Article Update 17.07.2023
Sweep orders are a bit different from standing orders. While for standing orders you define the amount of money George will transfer to another account, you must enter an amount - a threshold - that George will keep on your account when he executes the sweep order. In other words: George will transfer any amount that lies above your defined threshold. Please read further to see how you can set up and edit your sweep orders with George Business.
1a. Access via the main menu: Go to the menu on the left side of your overview and click on "New Order". From the dropdown menu, click on "Standing Order." Select then the account with which you want to create a sweep order.
1b. Access via your accounts: From the overview of your accounts, select the one you want to create a standing order from. On the top right, you will find a button saying "+New single transfer" with an arrow next to it. If you click on the arrow, you can select "Standing Order". The initiating account for a sweep order will be prefilled with this account information.
2. You can now decide whether you want to create a sweep order or a standing order. To create a sweep order, read further, to create a standing order, please click here.
3. To create a new sweep order, click on the "Create" button below the sweep order option.
4. Click on the recipient name field to select a recipient.
5. You can now select the recipient from a dropdown. If you deal with a new recipient who is not yet in your address book, you can create a new business contact.
6. Enter the amount as threshold which shall stay regularly.
7. In the next step, you can enter a text, a payment reference, or a sender reference. This is not mandatory but might help to correctly assign some standing orders.
8. In the next step, please select the interval. Though George pre-selects "monthly", you can change it to weekly, quarterly, half-yearly, yearly, or you select "irregular". Additionally, a last execution day can be set in order to limit the standing order for a certain period of time.
9. You can now save your order, save it and create a new one, or sign it right away.
1. Go to your Standing & Sweep orders overview by clicking on "Your Orders" within the navigation on the left side of your overview.
2. Select Standing Orders.
3. You will now see all your standing orders including your sweep orders.
4. By clicking on the respective sweep order, you can either edit it or delete it.
5. After editing the necessary details, save your sweep order or sign it.
Author: Samira El-Shamy