Flexible and efficient liquidity management
We offer cash-pooling account-solutions such as the Single Legal Account (SLA) for companies seeking to streamline their liquidity management.
The master account in each SLA is the legal account that holds the balance towards the bank, while underlying accounts are fictitious and used for separating funds belonging to each subsidiary in the group.
The consolidated information is available online and provides information on the group’s total funds in the virtual pooling account, the group’s liabilities to the bank and general cash flow. Redistribution of funds to group participants, and the management of internal interest rates for the administration of an internal credit market, is also available through Swedbank’s online group account module. The SLA cash pool can be covered by an overdraft facility.
For reconciliation purposes, we offer account statements for the underlying accounts within your cash pool structure via:
- InternetBank or Multi-Banking Solution
- SWIFT MT940/MT942
Internal credit limits
As the external credit facility is a matter between the cash pool owner and the bank, the underlying accounts have no external credit limits. The owner of the cash pool allocates internal credit limits to each underlying account.
Cover control entails that a payment will be stopped if it exceeds the total amount available/internal limit on the Detail Account. Only the owner of the cash pool can authorize a Detail Account holder to exceed the internal limit subject to that there is sufficient cover within the cash pool structure.
Internal interest rates
There is an option of fixing individual internal interest rates for each underlying account and having the bank perform your internal interest calculation and entry.
Read about our different payments solutions:
Swedbank in Finland supports SEPA credit transfers which have been adopted in Finland instead of national Finnish payment data formats. The SEPA credit transfers are based on the international IBAN account number, the international XML ISO 20022 standard as well as SEPA adherence agreements and rule books. Our Finnish branch also supports incoming foreign payments.
We also support reference payments according to the SEPA rule books including Finnish reference. These are transmitted either in incoming reference payments material or in account statement. Currently, we support AOS2 up to 9 occurrences but during Autumn 2018 up to 999 occurrences.
Swedbank in Finland supports outgoing SEPA credit transfers with or without reference number as well as international payments. Payments can be executed as single payments or in XML-file format via the InternetBank or file exchange channel.
Additionally, we offer SEPA- and foreign standing orders. Standing orders are instructions given by an account holder to Swedbank to pay a beneficiary a regular amount or total account balance on a periodic basis (daily/weekly/monthly/quarterly/yearly).
SWIFT services are available as a part of the global Cash Management system in the Swedbank Group. Thus, it can be used as an alternative to local electronic banking solutions. SWIFT is a standardized international inter-bank information exchange network accessible to all financial institutions worldwide.
Swedbank in Finland supports MT940/942 in/out as well as MT101 in/out.