New service: corporate money management.

03.03.2021

PRAVEX BANK offers clients a new service for liquidity management of companies - Automatic concentration of funds on the Master account.  The service also includes a quick and convenient addition of new accounts for automatic transfer of funds from a given group of accounts to a specific Master account of the parent company.

The new service will be useful for companies that have a network of branches and divisions, a network of subsidiaries, or formed on the principle of holding, who want to combine their accounts into a single system.  This service allows you to combine all accounts into a single group and during the transaction day with a certain frequency to set up an automatic transfer of funds (positive balances) from additional accounts to the main account.

Such a system has significant advantages. Some subsidiaries have temporarily free cash until the end of the business day, while other subsidiaries are forced to raise short-term bank loans to cover cash gaps.  The system of Automatic concentration of funds minimizes the need for additional short-term loans, and, consequently, the cost of obtaining them and interest payments. Besides, the system simplifies the accounting of cash flows within the group and gives the company's management operational information about it.

PRAVEX BANK consistently implements modern liquidity management products for corporate clients to provide quality service and meet customer needs.  It should be noted that in international practice, the automatic concentration of funds has long been used by large corporations as an effective tool for optimizing the process of cash flow management.

print To print a page