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Cash Pool Consolidation Account

Cash Pool Consolidation Account

For managing the entire Group’s cash flow

  • Central and effective intra-pool management of liquidity
  • A complete overview of the Group’s capital movement
  • Reducing the necessity of an overdraft

Cash Pool Account is designed for a group of companies with subsidiaries, for obtaining a good overview of the financial position of the group. Cash Pool Account enables to use efficiently the current assets of the entire group.

A convenient and flexible opportunity to manage the entire Group’s cash flow. Fast and convenient movement of available funds within the Group’s companies. The Baltic cash pool solution is designed for groups who have subsidiaries in other Baltic States.

Advantages of the Cash Pool Consolidation Account

  • Best overview of the entire Group’s liquidity
  • Less need for external financing
  • Increase in external interest income – interest calculations made from consolidated accounts by currencies
  • Standardised price list of bank services
  • Opportunity to add Latvian and Lithuanian subsidiaries to the Cash Pool Consolidation Account
  • The overdraft issued to the Baltic Group can be used by Estonian, Latvian and Lithuanian subsidiaries
  • Convenient management of cash pool account in real time via the Internet bank

In the Internet bank it is possible to:

  • gain an overview of the Group’s funds in the account at the moment;
  • gain information about the turnover of all accounts for a selected period;
  • specify the limits of companies/accounts in the Group to the extent which the account holder can use the Group’s available funds (internal limits);
  • specify different interest rates for companies/accounts in the Group for calculation of intra-pool borrowing (internal interest);
  • specify the frequency of transferring accounts to zero and the structure (balancing); and
  • order various interest reports, such as internal interest, interest paid to the bank or payable by the bank to the Group (including overdraft and overnight deposit interest).

Possibilities of the Cash Pool Consolidation Account

  • Multi-currency overdraft – an overdraft that can be used in different currencies
  • Cross-usage of currencies (incl. intra-day) – using one currency on account of another
  • Intra-pool borrowing with internal limits
  • Calculation of internal and external interest and automatic transfer
  • Deferring and directing service fees
  • Balancing in different frequencies: by hour, at the end of each day, on a specific weekday, once a month etc.

The Baltic Cash Pool Consolidation Account enables the Group to manage liquidity and finances in a group which has subsidiaries in Estonia but also in Latvia and Lithuania.

The Baltic Cash Pool Consolidation Account allows the parent company to easily and conveniently manage and use the liquidity of the entire Baltic Group. One multi-currency overdraft of the entire Baltic Group minimises interest expenses and reduces currency exchange expenses.

SEB centrally calculates either positive or negative interest on the currency accounts of the Group. The parent company can change and specify the internal limits as well as interest rates applicable to the subsidiaries in real time.

Conditions for opening the Cash Pool Consolidation Account

  • The parent company’s holding in all subsidiaries is at least 51%.
  • The bank’s credit committee has made a positive decision about opening a group account.
  • All of the Group’s members have an account in SEB Pank.

Please note! As using this product entails mutual loan relations between the members of the Cash Pool Consolidation Account, it should be observed that all of the requirements of the legislation of the country of location (the necessary decisions of bodies of the company, compliance with loan limits arising from legislation, fulfilment of taxation laws etc.) are followed when using the product.

   
1. Opening of cash pool account EUR 200
2. Sub-account maintenance fee EUR 15
3. Annual maintenance fee of the group EUR 320
4. Amendment of cash pool account contract EUR 20
5. Internal interest transfers, monthly fee EUR 6
6. Administration of cash pool account via internet bank, monthly fee EUR 16
7. Cross-usage of currencies in the group, monthly fee EUR 65 + interest
8. Intra-day cross-usage of currencies, monthly fee EUR 20
9. Cash Concentration  
account registration EUR 70
monthly fees for services  
- frequency of payment: daily EUR 70
- frequency of payment: weekly EUR 40
- frequency of payment: monthly EUR 20
fee for one payment according to the price list of payments
contract amendment fee EUR 70

 

Contact

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