Rakuten Bank 自動スイープ

[RetireJapan]

Still getting to know my Rakuten Bank account.

What is this auto-sweep thing (自動スイープ)? Is it automatically taking any yen cash from my Rakuten Securities account and moving it to the Bank?

Lots of dividends this month, so I've been getting a notification email pretty much every day.

[TBS]

What is this auto-sweep thing (自動スイープ)? Is it automatically taking any yen cash from my Rakuten Securities account and moving it to the Bank?

Yes, exactly this. It moves any unused cash in your Securities into the Bank account at the end of each day.

[RetireJapan]

Yes, exactly this. It moves any unused cash in your Securities into the Bank account at the end of each day.

Huh. Don't remember turning on that setting! No big deal I guess, as it is easy to move the money back if I need to.

Guess it would be useful later on if we were living off dividends or something like that

[TBS]

Huh. Don't remember turning on that setting! No big deal I guess, as it is easy to move the money back if I need to.

Guess it would be useful later on if we were living off dividends or something like that

Neither did I IIRC. And it was a big shock to login to Securities once and find my balance of X万 yen was no longer there

[adamu]

Rakuten Securities can also take the money directly out of your Rakuten Bank account, so there's no need to actually keep a balance in the securities account. This has the benefit that you can earn... 0.1%... interest on the cash balance.