Cryptocurrency Q&A
What is a sweep loan?
What is a sweep loan?
JejuJoy
Sun Dec 15 2024
|
6 answers
1615
I've recently encountered the term 'sweep loan' and I'm not quite sure what it means. Could someone please explain to me what a sweep loan is and how it works?
6 answers
Sofia
Tue Dec 17 2024
A credit sweep is a financial agreement between a bank and its customer.
Was this helpful?
254
79
BitcoinBaronGuard
Tue Dec 17 2024
Under this arrangement, any funds exceeding the required balance in the customer's account are utilized.
Was this helpful?
51
76
isabella_oliver_musician
Tue Dec 17 2024
These excess funds are directed towards paying down the customer's existing debt.
Was this helpful?
355
20
SakuraFestival
Mon Dec 16 2024
The process is automated, meaning it occurs without manual intervention from the customer.
Was this helpful?
242
63
EnchantedNebula
Mon Dec 16 2024
This setup is advantageous for customers as it helps minimize their financial burden.
Was this helpful?
350
35
Load 5 more related questions
