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Group account

Simple and effective management of funds!

The key feature of the account is the national pooling of funds from current accounts of several companies connected within a group which enables:

  • having a single view of all the group’s funds;
  • borrowing funds within the group;
  • convenient and centralized account handling;
  • reducing the need for external credit resources.

To get an offer, contact your account manager at Swedbank!

Creation of an internal lending market

The group account gives the opportunity to allocate the funds available inside the group to the member that needs them the most at the given moment.

Less need for external borrowing

Companies can use each other’s funds within the internal borrowing limits set for them.

Decreased interest expenses

In the case of a group account, the positive and negative balances of the group members offset and the amount to which the overdraft interest rate is applied is smaller.

Better overview of the group's activities

You will get an overview of the entire group’s funds, which allows you to manage the group’s assets more efficiently.

Different group account statements can be obtained through the electronic channel and they are available only to the parent company.

Group account statement reflects the movement of money of the entire group, as well as of every member during the selected period by days.

Balance statement is a consolidated statement of the average and actual balances of group members over a certain time period.

Interest statement gives an overview of the positive and negative internal interest rates established for group members and the interest earned and/or to be paid within the group during the selected time period.

Group turnover statement gives an overview of the group’s turnover showing the opening and closing balances by account groups or members and the movements and balances on the account.

Statements can be made more flexible by grouping the accounts of group members (e.g. revenue account, expense account, payroll account, etc.) and by giving names to accounts if necessary.

Product/Service Price, EUR
Applying
Opening account 200.00
Using
Fee for credit balance exceeding

The fee is calculated on a daily basis for the total amount of funds in the customer’s cash pool account that is above the limits set for the respective currency, multiplied by the central bank’s rate and divided by the number of days (360). The fee is not applied if the central bank has set a deposit rate which is equivalent to 0 or is positive for the respective currency.

Example. If the total balance of the cash pool account at the end of the day is 400,000 EUR and the ECB rate is -0.5%, then the fee for account balance on the given day is 400,000 – 300,000 = 100,000 * 0.5% / 360 = 1.39 EUR

The fee is charged by the 15th date of every month for the preceding month.

The EUR limit set in the price list is raised but in any event not more than up to 10,000,000 EUR (ten million euros), adding to the limit set in the price list the drawn limit of the Group’s credit facility made available to the customer (only the parent company) by Swedbank Latvia. The limit is only raised for financing agreements where the base rate (EURIBOR) is set at no less than 0 and is not raised for fixed-rate financing agreements.

- EUR 300 000
- CHF 100 000
- DKK 750 000
- JPY 10 000 000
ECB rate
Swiss National Bank rate
Danmarks Nationalbank's rate
Bank of Japan rate
The annual threshold fee for large increase in account balance

Customers whose total balance of funds in bank accounts (except accounts linked to the Cash Pool Account) as of 31 December exceeds 10,000,000 EUR and this balance is 30% higher than the Customer’s total balance of funds in bank accounts on the average per day during the current year, and which the bank will have notified in writing 30 days in advance, will, in addition to the fee for balance of funds, be charged an annual threshold fee for large increase in account balance at the rate of 0.13% from the difference between the total balance of funds in the accounts as of 31 December and the customer’s total balance of funds on the average per day during the current year, adding a 30% increase to the latter.

Example: if the total balance of current accounts stands at 15,000,000 EUR at the end of the day on 31 December but the customer’s balance of funds in accounts has been 5,000,000 EUR on the average per day during the current year, then the annual threshold fee for large increase in account balance on the particular day is (15,000,000 – (5,000,000 + 30% from 5,000,000))*0.13% = (15,000,000 - 6,500,000)*0/13% = 11,050 EUR.

The fee is charged by the 15th day of January for the preceding year.

0.13%
Annual fee Min. 200.00 Depending on structure.
Sub-group / second cash pool account - 200,00.
Group member's monthly fee 15.00
Contractual amendments 25.00
Closing
Closing account Free of charge

Effective from 01.08.2021

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