POSB Sweep IN and Sweep Out | What is IPPB Sweep in and Sweep Out

 What is sweep in and sweep out?

There is a Facility of Sweep in and sweep out offered by IPPB. Using this you can make a deposit (transfer) your money from IPPB to Your Post office account or vice versa. 

What is POSA linkage?

Link your post office saving account with your IPPB saving account is called POSA linkage. You can only link your Single POSB account with IPPB. if you have a Joint account You can't link this account with IPPB Saving Account. 

What is "SWEEP IN"?

After linking your POSB account, you will use the option of "SWEEP IN" in your IPPB Mobile Banking or Through Postman/ post office. In this option, you can Transfer Your money from your Post office saving account to Your IPPB account. (This service will work from 08 AM to 08 PM only on post office working Days). No maximum limit for fund transfer. 

what is "SWEEP OUT"? 

Using this Option your can transfer your Money from your IPPB Saving account to Your Post office Saving account. This option will work anytime during the day and 24x7 Hours. There is also no minimum or maximum limit for fund transfer. 

But!

• You can link only your account. you can't add any other POSB account related to another person. 
• You can't make any fund transfer to another person's POSB account. (this can be made only with post office net banking or post office mobile banking app. )
• You Can't deposit money in a post office joint account through IPPB. 

Hope I answered your Query. 

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