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PayPal Auto Sweep

by CyberAlien
15 replies
I couldn't find any other topics about this so I wanted to let everyone know about this feature. I don't know what the requirements are for it, I just called PayPal and they took a look at my account and enabled Auto Sweep for me.

What is Auto Sweep?

It's a feature that can be enabled to automatically transfer all of your money to your bank each day at about midnight. It also bypasses the normal security scans that PayPal has setup for detecting high risk withdrawals.

I've had days where only a couple hundred dollars were withdrawn automatically and days where several thousand dollars were automatically withdrawn. I've been using this feature for a couple years now and it's been very useful in helping make sure that I never have too much money just left in my PayPal account.

If you have any questions about it, feel free to ask.
#auto #paypal #sweep
  • Profile picture of the author MartinPlatt
    Is this some software that you have created, or a feature that is present in PayPal??
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    • Profile picture of the author CyberAlien
      Originally Posted by MartinPlatt View Post

      Is this some software that you have created, or a feature that is present in PayPal??
      It's a feature that you have to call PayPal to enable.
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  • Profile picture of the author asiriusthoth
    Interesting... is it a feature for a 'business' account or can a premier account also use it?
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    • Profile picture of the author CyberAlien
      Originally Posted by asiriusthoth View Post

      Interesting... is it a feature for a 'business' account or can a premier account also use it?
      At the time I had it enabled I had a business account with my EIN, address, phone number, etc. verified. I also had 3 credit cards and 2 bank accounts attached to the PayPal.
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  • Profile picture of the author franktwin
    Cool Feature... Thanks for posting... banking is becoming more Innovative these days, I mean now I can take a picture of a check and send it to my bank and they either cash it or deposit it right from my snap shot.... Awesome..
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    • Profile picture of the author CyberAlien
      Originally Posted by franktwin View Post

      Cool Feature... Thanks for posting... banking is becoming more Innovative these days, I mean now I can take a picture of a check and send it to my bank and they either cash it or deposit it right from my snap shot.... Awesome..
      No problem, it's been very useful to me since I don't have to withdraw money manually ever anymore. Plus, it doesn't look weird to PayPal that my account is emptied each day since it's automated by them.
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  • Profile picture of the author WillR
    I have no idea why Paypal would be promoting this type of feature. Having people remove the money from Paypal the same day it is earnt just creates more risk for them since there are always going to be disputes, chargebacks and refunds.

    Also people need to keep in mind that regardless of whether you pull all your money out or not, if you owe Paypal money they can withdraw it from your bank account, even if you have zero funds inside it.
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    • Profile picture of the author Raydal
      Originally Posted by WillR View Post

      I have no idea why Paypal would be promoting this type of feature. Having people remove the money from Paypal the same day it is earnt just creates more risk for them since there are always going to be disputes, chargebacks and refunds.

      Also people need to keep in mind that regardless of whether you pull all your money out or not, if you owe Paypal money they can withdraw it from your bank account, even if you have zero funds inside it.
      Sounds like you answered your own question.

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    • Profile picture of the author CyberAlien
      Originally Posted by WillR View Post

      I have no idea why Paypal would be promoting this type of feature. Having people remove the money from Paypal the same day it is earnt just creates more risk for them since there are always going to be disputes, chargebacks and refunds.

      Also people need to keep in mind that regardless of whether you pull all your money out or not, if you owe Paypal money they can withdraw it from your bank account, even if you have zero funds inside it.
      I've never understand why they did this either but I assume that they check your previous refund rates and similar fraud-related stuff. But of course they have no idea when someones business may go under and they simply won't be able to cover chargebacks.

      As far as I can tell, this feature has been around at least since 2001.
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  • Profile picture of the author Sue McDonald
    Interesting thanks for the information. Then you know that your money would be secure. I will contact them and get them to set it up for me.
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    • Profile picture of the author CyberAlien
      Originally Posted by Sue McDonald View Post

      Interesting thanks for the information. Then you know that your money would be secure. I will contact them and get them to set it up for me.
      It's definitely one of the more useful features, maybe someone who calls to have it activated can find out the exact requirements.
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  • Profile picture of the author Alex Blades
    All these years I had no idea they had this feature, I always paid myself cash from the Paypal debit card.
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    • Profile picture of the author CyberAlien
      Originally Posted by Alex Blades View Post

      All these years I had no idea they had this feature, I always paid myself cash from the Paypal debit card.
      I used to just withdraw money every few days but this definitely makes like a bit easier at least
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  • Profile picture of the author GeorgiaB
    Thanks for the news. I did not know this.
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