2.6 Percentage

This topic provides the information about the Percentage method.

In Percentage Sweeps, a certain set percentage of funds available in the minor account is swept out to the parent account. The system supports both 1 way and 2 way sweeps.

1 Way Scenario

When the child account balance is above zero, the system sweeps a certain percentage (preset) of the balance to the parent account.

2 Way Scenario

The system tries to bring the child account to zero balance if it has a negative balance. If the balance in the parent account is not sufficient to cover the overdraft in the child account, either sweep is not executed or sweep is executed up to the balance available in the parent account.

If more than one child account is in negative balance, the transfer from the parent account is based on the priority set at the child account (Least numeric is given top priority) and the available balance on the major account.

When sweeping from major account to minor account, the major account balance cannot go below Zero if the unlimited OD is not selected at the account level. If it is checked, the sweeps can be executed without any limit to cover the child overdrafts till all the minor account balances are set to zero.