Group Account

Group Account brings outright benefits

Group Account is Internet based balance netting service within Nordea, concentrating group funds per currency into the currency top account. The total overview of the Group’s liquidity can be seen on the Master Account, which is a notional account in one currency, e.g. EUR or USD. The currency top account is normally held by the parent company. Transaction accounts are used for day-to-day transactions.

Currency top account shows the total sum of transaction account balances per currency. When funds are paid in or withdrawn from a transaction account, the total available balance on the respective currency top accounts and master account are instantly adjusted.

The Group Account hierarchy is tailormade for customer’s needs. Hierarchy may have summary accounts and transactions accounts in different currencies.

Benefits

• Reduces your need for external financing
• Improves your net interest
• Reduces your group's balance sheet
• Saves you from value date delays in internal funds transfers
• Facilitates your administration
• Gives you a total overview of the group's liquidity