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Multi-currency group account system

A multi-currency group account system is suitable for subsidiaries engaged in imports and exports. The solution provides a basis for optimising liquidity management across the group. The system consists of multiple group account systems in different currencies that are linked to a common limit account.

Benefits:

  • More effective management of the group's foreign currency exposure
  • Less currency exchange
  • Improved monitoring and control of subsidiaries
  • Simpler group reporting for subsidiaries
  • Total liquidity overview
  • Lower credit limit
  • Reduced commission and interest expenses

Reporting:

In the Internet bank, you will find information about the group's account structure and terms and conditions. Companies with a large number of accounts and the need for tailor-made reports will find our reporting tools highly useful.

Legal issues:

The establishment of a multi-currency group account system requires that the company is an independent legal entity or a corporate group as defined in the Norwegian Companies Act. Any participants from outside Norway must meet the legal requirements that apply in their respective countries.

Related products: Group account system, International Cash Pool, Zero Balancing, Multi-currency account system