![]() ![]() Sweep’s website is so minimal though you do feel as though you’re on your own a bit, which in the case of the new features that look set to be added on a rolling basis, feels like a bit of a shortcoming. There’s the capacity for messaging the Sweep team using a browser window chat tool, plus an area that covers FAQs does the job of answering many of your questions. While there doesn't seem to be all that much to get confused about once you’re in the Sweep app the supporting website isn't quite as intuitive as we’d have hoped for. It’s therefore easy to quickly create a dedicated folder for month-by-month tracking or, for example, a dedicated project folder for a specific event or business trip. ![]() The app lets you create projects areas within the software that allow you to manage your various travel and expense responsibilities. That means you’re always going to be getting up to date information on your finances and any new transactions. ![]() This is really the key to how Sweep works, because transactions are dynamically updated on-the-fly. The business or account owner sets a threshold level that the bank should maintain. A simple screen tap allows you to add additional accounts as and when you need to. What Is a Credit Sweep Also referred to as automated credit sweep, credit sweep refers to an agreement or arrangement between a bank and a business or corporation for the bank to use excess or idle cash in a deposit account to pay an outstanding line of credit. The software interface is nicely laid out, so going through this process for more than one account is very straightforward. The Sweep Travel package lets you book travel and accomodation (Image credit: Sweep) Ease of useĪfter downloading the app, for either iOS or Android, the first thing you’ll want to do is link to your bank accounts. This details all of your expenses, which can then be approved by the relevant department. Once you’ve got a selection of expenses, say from a month or an event, you’ll be able to produce a detailed report, which can then be distributed as a CSV file, PDF or sent by email. Sweep is handy in that it auto-populates a lot of the fields when you add new expenses, so feature-wise it does everything you’d expect from software of this type. Logging expenses can be done in the time-honored tradition of taking a photo on your smartphone or capturing them as a PDF to log online transactions. The app seems to be a bit of a work in process with more features appearing all the time. Tackling expenses can be done using Sweep’s smart payment categorization tools while there’s real-time transaction tracking too. There’s a self-service booking platform for travel-related issues plus an in-app trip and expense approval design. There are several key features that make Sweep a worthy option if you’re looking to tackle both travel and expense chores. UBS Group ( UBS), Deutsche Bank ( DB), BNP Paribas ( BNP), Banco Santander ( SAN), Barclays ( BCS) were among those whose shares tumbled to year-to-date lows.The Sweep app is wonderfully easy to get to grips with (Image credit: Sweep) Features Word of the potential lifeline came as shares of big European banks tumbled today, fueled by worry that Credit Suisse may slide into insolvency in the wake of the collapse of Silicon Valley Bank (SVB) and Signature Bank in the U.S. The ADRs trimmed their decline to 14% after the announcement from Switzerland. The Swiss lender’s American Depositary Receipts (ADRs) lost almost a third of their value on Wednesday, and its bonds were trading at distressed levels. He cited “many reasons," including the regulatory burden under Swiss law once investments top 10%. Shares of Credit Suisse ( CS) slumped on Wednesday after the chair of Saudi National Bank, the bank's largest shareholder, said his firm would “absolutely not” increase its stake above the 9.9% it took last year. In a joint statement with FINMA, the Swiss financial market regulator, the Swiss National Bank (SNB) said Credit Suisse met “the strict capital and liquidity requirements” imposed on systemically important financial institutions (SIFIs) and “will provide CS with liquidity, if necessary.” Switzerland’s central bank said Wednesday it’s ready to provide financial assistance to Credit Suisse Group, the nation’s second-largest lender, whose stock slid to all-time lows after the bank’s top shareholder indicated it wouldn’t invest further in the company. ![]()
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