Paypal provides a service called "auto-sweep" that allows you to regularly, automatically transfer the entire balance of your Paypal account into a linked bank account. Automated transfers of a fixed monthly amount are nothing new.

I'd like to find a checking account that allows me to regularly transfer the entire balance to another account. Are any such offerings available? How would I find out about that feature? Is there a list of such accounts anywhere?

  • I don't know, but I wouldn't be surprised if there are no such offerings. It's hard enough to find checking accounts that don't have a minimum balance before they start charging you fees. Banks want you to keep money in your account.
    – BrenBarn
    Commented Mar 9, 2015 at 19:31

1 Answer 1


Almost any financial institution has the technical ability to do this (simply called sweeps, auto sweeps, or deposit sweeps); the issue you face is finding an institution that is willing to do it for you. I think you will have the most luck at your primary financial institution where you currently keep the majority of your banking relationship. You will have better luck at small-town banks and credit unions. The mega banks will likely not waver from their established policies.

Deposit sweeps are common for business accounts. They are usually tied to a savings account, which is usually held within the same institution, however this is not a requirement. The sweep can send money to any US bank if you can provide the routing number and account number. The sweep will establish a peg balance, or floor balance, on the checking account. At the end of the day, any amount above the peg is swept into the savings account automatically.

I doubt you will find what you’re asking for within an online banking system. You will likely have to go into a branch and speak with a personal banker. Explain to them you want to establish a sweep on your checking account and want to send the funds to another financial institution. You will have better luck asking for a peg of $100, or some other small amount. They may not take your request seriously if you want to completely empty the checking account to zero.

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