Sweeping
Sweeping from Riyad Bank defines the financial position of your accounts.
- Keeps surplus fund in the desired account for proper cash management
- Make informed decisions towards your liquidity
- Efficient and reliable payment processing
- Provides a high level of control and security
Minimum balance:
When the balance of your secondary account drops below set minimum, funds are transferred automatically from the primary account.
Purpose:
- Maintain a target balance in the secondary account to cover expenses.
Maximum balance:
When the balance of your primary account exceeds set maximum, funds are transferred automatically to the secondary account.
Purpose:
- The secondary account will be treated as a collection account
- Maximum balance can be set for primary and secondary accounts
Two-way sweep:
This option allows you to set minimum and maximum balance levels or maintain a fixed target balance in the secondary account.
Purpose:
- Maximum and minimum balance can be set for secondary account
- Automatic fund transfer from primary accounts to accounts with balances below set minimum
- Automatic fund transfer to primary accounts from accounts with balances above set maximum
- Maintain a target balance in the account to cover expenses
Distribution:
The ability to automatically distribute funds from Riyad Bank accounts to beneficiaries within Riyad Bank or with other local/international banks, as per the following criteria:
- Fixed amount
- Percentage
Purpose:
- The distribution of funds is according to customer’s needs
- Maintain a minimum balance in the primary account and control the distribution of excess funds to beneficiary accounts
To apply, please email our sales team on Tss-cmsales@riyadbank.com or call us directly:
- Eastern region: +966-13-833-5733 Ext. 4505
- Western region: +966-12-260-9092
- Central region: +966-11-486-5978
