Sweep technology

Any change of setting up ‘Sweep technology’ (similar to UBank)? If a transaction amount requested is higher than the total amount in my debit account, it automatically sweeps money from my linked savings in real time so the transaction does not bounce. It’s been a real life saver.

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This is a great idea. I find it quite tedious to have to manually move money between debit and savings accounts to make sure there’s enough in debit to cover all possible expenses while keeping as much as possible bearing interest in savings.

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Down for this, as long as it’s not forced down my throat like UBank does. I’m using Xinja primarily as a savings account not spending so having the minimum $100 sitting in my spending account doing nothing for 0% interest all the time is a right pain.

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Add my vote for automated sweeps, particularly for direct debits, BPay, & other regular payments.
As @CallumD says, having a $0 minimum for the Bank account would be good.

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I also support sweep technology (similar to UBank) being added, along the lines of previous posters in this thread ie optional sweeps and no minimum amount required in the cash account. Having a sweep functionality is a highly effective means for Xinja customers to maximise the interest which they can earn from their Stash account.

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+1 (I’ve like the original post too)
How do we get this on the roadmap? I’m thinking we get as many people as we can to like the original post by @AJ85; hopefully that’ll bring it to the top of the forum list at least! It would be a super useful feature and will truly maximise savings without having to think about it.

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+1, this is the number one user experience improvement for me I think.

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Oooh this sweep revolution is taking hold!!
We’re exploring it at the moment and will come back to this thread about adding it to the roadmap when we have an update :moneybag: :broom:

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Agree. I find the “sweep technology” the most annoying thing on Earth. Even more annoying when UBank tells you it can’t be switched off. Interestingly, when I spoke to UBank tech support about it, he did say their feedback had been that more than half their customers hated it and they were looking at removing it or at least changing it so you weren’t forced to use it.

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BUT, you’d want to be able to put a limit on the sweep amount, otherwise someone could empty your Stash account. I think this is a potential problem with UBank’s sweep feature.

BUT, you’d want to be able to put a limit on the sweep amount, otherwise someone could empty your Stash account. I think this is a potential problem with UBank’s sweep feature.

BUT, you’d want to be able to put a limit on the sweep amount, otherwise someone could empty your Stash account. I think this is a potential dangerous problem with UBank’s sweep feature.

Despite the quote from @AJ85 above, Ubank does NOT permit unlimited automatic sweeps. It only applies to some more “fixed” transfers like direct debits.
Any debit card transactions are only permitted up to the current balance of the transaction account, and do NOT sweep from the attached USaver. An overnight sweep would restore the configured balance in the Ultra, then it all starts again…
Also, a user can configure email/SMS notifications of every sweep transfer.
So, there is no way that the savings account could be “cleaned out” by some bad actor, without plenty of notification and limitations.
Obviously I disagree with @Xinjamoves. I find it way more useful than annoying. Sure, you leave some $$ to use in the transaction account without interest, but that is the same at Xinja.

If Xinja do go for this, can we make it optional please? A feature like this would infuriate me…

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@propoke24 fair call! We’re still not decided when/if/how we would implement a sweep feature but you can read more of the conversation here: Sweep from Stash to bank account :moneybag: :broom: