ISO 20022 · Category purpose
SWEPCash Management Sweep Account
Published definition
Classification: Cash Management. Transaction relates to a cash management instruction, requesting a sweep of the account of the Debtor above an agreed floor amount, up to a target or zero balance. The purpose is to move the funds from multiple accounts to a single bank account. Funds can move domestically or across border and more than one bank can be used.
Additional source information
CR1069
Code set and usage
Category purpose contains 49 registered codes. Its exact identifier is ExternalCategoryPurpose1Code.
Specifies the category purpose, as published in an external category purpose code list. External code sets can be downloaded from www.iso20022.org.
Use the code with the applicable message version and implementation guide. A matching code value alone does not establish the same meaning in another set.