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Lotteries schedule account “sweeps” to avoid cash flow and banking delays

12/19/2018

Lotteries schedule account “sweeps” to avoid cash flow and banking delays

NANA has repeatedly impressed upon NSW Lotteries/Tabcorp of the need to consider the impact of delayed banking transactions and funds availability due to public holidays and weekends. The delays are usually worst around Easter and Christmas/New Year, however any public holiday can severely impact the availability of funds, especially those arising from EFTPOS transactions.