Standing orders are a convenient way to transfer money from one of your accounts to another account. Sweep orders are a bit different from standing orders. Please read further to see how you can set up and edit your sweep orders.
Sweep Orders
Last Article Update 10.03.2025
What is the Difference between a Standing Order and a Sweep Order?
Standing orders and sweep orders are same same but different. George classifies both as "Standing Orders". However, in practice, they work a bit differently:
Standing orders are orders that transfer a defined sum of money from your account to another account on a specific date. You tell George how much money he should transfer, and he will do so.
In the case of sweep orders, you let George know how much money he should keep on your respective account and he will transfer any amount that lies above this threshold to another account. Currently, George can only transfer money to one of your own accounts, for example a savings account.
Creating a Sweep Order
App
1. Tap on the account with which you want to create a standing order.
2. Go to the "Functions" section below your account balance.
3. Next, tap on "Standing and Sweep Orders". Now you will see all your standing orders. Tap on "Sweep Orders" to see all your sweep orders and to create a new one.
4. You can create a new sweep order by tapping on the button at the bottom of the screen.
5. Select the account you want to transfer money to.
6. Enter the threshold for the sweep order. This will be the amount that remains on your account.
7. Select the execution day. George will execute your sweep order always on the selected date, e.g "every 4th day of the month".
8. In the next step, you can change the transfer interval as well. Though George pre-selects "monthly", you can change it to:
- weekly
- quarterly
- half-yearly
- yearly
- or you select "irregular".
9. You can now enter a text if you want. Finally, tap on the "Sign" button and sign your sweep order.
Web Browser
1. Select the account with which you want to create a standing order.
2. In the navigation on the left-hand side you will find the item "Standing Orders".
3. You will now see all your standing orders. You can find a switch on the top of this overview saying "Sweep orders". Click on it to see all your sweep orders.
4. To create a new standing order, click on the "+ New order" button at the top of this overview.
5. You can now decide whether you want to create a standing order or a sweep order. To create a sweep order, read further, to create a standing order, please click here.
6. Click into the recipient name's field to enter or select a recipient, or click on the address book icon to select one of your contacts.
7. If George knows the recipient, e.g. through earlier transfers, he will automatically enter the IBAN. You can of course change it, if needed, by entering the respective IBAN.
8. Now you can enter the threshold. That's the amount you want to keep on your account when George executes the sweep order.
9. In the next step, you can enter a text. This is not mandatory but might help to correctly assign some sweep orders.
10. Afterwards, please select an execution day and then also the interval. Though George pre-selects "monthly", you can change it to:
- weekly
- quarterly
- half-yearly
- yearly
- or you select "irregular".
George will also ask you about the last execution. You can either set it to "until cancellation" or to "until", which will then be a date where George will execute your sweep order for the last time.
11. By clicking on the "Continue" button, you will be forwarded to the signing screen. Please sign your sweep order.
Editing Sweep Orders
"Nothing is set in stone" - this also applies to sweep orders. You can change sweep orders anytime.
Pausing Sweep Orders
There might be the case where you say "No, not this time". If you want to suspend a sweep order, you can initiate the pause up until two days to the next execution date.
If you want to suspend your existing sweep order, please:
1. Go to your Standing & Sweep orders overview as explained in steps 1-3.
2. Select the sweep order you want to suspend.
3. Change the execution date to the next execution date when George should execute your sweep order.
4. Sign your sweep order.
Author: Samira El-Shamy