Any such thing as a "Reverse Sweep"?

Fatboy_NSS

I was thinking about this while replying to the thread on the Abbey sweep facilities, but felt it deserved it's own thread (incidentally my 1st on MSE, despite my many posts!)

Does anyone know of any bank that offers a "reverse sweep" facility? By this I mean that if an item was presented that took the customer over their od limit, the system could automatically sweep enough money from a linked savings account into the current account. This would ensure the transaction went through, and the customer would not be charged as the account would remain within it's limits. This would be much more useful than a normal sweep, as rather than just earning you a couple percent more interest it would potentially save you being charged £20+ a time. If it was marketed well then this could be a really good advantage for the first bank to introduce it. Any thoughts?

Jacster_2

It would be a fantastic idea. However, the banks would need to calculate what they would lose on not getting x amount of charges any more, and chances are that the rest of the 'deal' would end up not very competitive.

I would love to be proved wrong - great idea!

:hello:

paulherts

there is in cricket....