Liquidity Management

Cash Pool Services

Through UniCredit’s Cash Pool services our clients can optimize their financial positions. As part of these services, our Bank sums up the balances of accounts belonging to a certain company or group of companies run in the same or different currencies, in order to reach a higher income from interest or to reduce their interest costs. Also, this will help them redeem their external credits, partly or in whole, with internal financing and be able to improve liquidity control within the group.

Further details

Effective cash pool

When choosing our Effective Cash Pool service, the balances of related accounts are actually carried over to a central “Pool Account” at the end of each day. By default, the original balances of each account are carried back to their respective accounts the next morning, but the Cash Pool function can also be used without this option. Based on a preliminary agreement, it is also possible to determine certain amounts to remain on the participating accounts, and this limit can even be customized for each account. In the latter case the balances are carried over and back according to the set limit.
When using our group cover monitoring service, the bank will check the cover of orders jointly, which means that it is enough for the group to have the necessary balance combined. A credit line may also be assigned to the group as a whole, to its subgroups or the participating accounts. For groups, UniCredit offers unified interest proposals for debits and credits. Interests are calculated on the basis of the central pool account balance and are also charged / credited to them.

Fictive Cash Pool

When using the Fictive Cash Pool service, the balances of participating accounts do not change and no account operations are carried out. Interest is calculated on the basis of a combined balance of the participating accounts, which is carried out on a Fictive (technical) Pool Account. With this option, there is no crediting between the participating accounts and thus there are no extra administrative burdens related to the service for the participants either. Group cover monitoring, credit line and other options are available with this service the same way as they are with Effective Cash Pool.

Multi-currency Cash Pool

Our bank’s Multi Currency Cash Pool (MCCP) service offers a special and unique solution for liquidity management of accounts held in different currencies. This service not only ensures group collateral reviewing across currencies, but minimizes the overdraft facilities needed. Like at the standard notional Cash Pool service, the balances of participating accounts do not change and no actual balance transfers are carried out. With MCCP the bank – noticing the pre-fixed limits – considers the total balance of the accounts in different currencies. Our systems take the balances automatically and continually during the full-scale group collateral reviewing to a common denominator and execute the payment orders on the basis of the aggregated common balance. The interest settlement of the real balances managed by fixed rules at the end of the day e.g. with the help of overnight FX SWAP prices. The product is especially useful for those companies, which need different currencies temporarily but would like to avoid the exchange rate risk due to conversion.

Interest calculation

For both Effective and Fictive Cash Pool UniCredit will, upon request, calculate the interests for each participating account before their balances are carried over to the Pool Account and, in order to help the group’s internal accounting, provide them with this information. If requested, our bank also may act as a confidential party and carry out the group’s internal accounting, even using the internal interest rates determined by the group.
Interest is calculated on the basis of a combined balance of the participating accounts, in two steps:

First, the interest of the balances of participating accounts is calculated (without being added up on cash pool accounts)
Then, the surplus interest of combined daily balances is divided in accordance with the client’s prescriptions.

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Swift messages

MT 101

Our clients may receive transfer orders from their international parent companies or partners even via the SWIFT system, in the form of an MT101 message. Using this message, both domestic and international transfers can be carried out.

MT 940 / 942

The purpose of this service is to forward the account statements of our clients to those entitled (such as the international owners of Hungarian subsidiaries or international banks) through a safe, internal channel, in the form of a SWIFT message.

MT940
opening and closing balance, itemized cash movement statement (daily extract)

MT942
an itemized statement of transactions carried out during a specifi c time (current extract)

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European Gate

Imagine being able to access all, or at least most of your European Banks abroad via one and the same banking portal - without additional dial-up, without additional legitimisation.

That´s how simple the cross-border eBanking with EuropeanGate is. The European Gate is the solution of UniCredit to fulfil corporate requirements for centralized payment management with a Shared Service Center or similar. It provides facilities to access all accounts within UniCredit via one bank connectivity.

European Gate can be linked to any existing eBanking solution. You select the location you want to use as your single point of entry. Via your banking portal at your UniCredit principal Bank, you obtain direct online access to all Banks within UniCredit in currently 16 countries in Central and Eastern Europe.

This is how it works in practice: You send us your payment orders (transfers and direct debits). We handle conversion into more cost-efficient national formats and rerouting for you. Taking the payment type requirement into account, this tool allows you to manage your foreign accounts just as if you were in your home country.

Benefits at a glance:

You will save costs because your company will have fewer banking software products to license and document.
You will save time and effort because overall handling of your banking transactions will be accelerated through access and format standardisation.
Your employee training session will be shorter and less frequent.
You will need only one contract with your bank - at the location where you have your central point of entry.
You will not need to set up an accounting unit in every country.
European Gate supports both national and global formats and can be integrated into any e-banking infrastructure.
A dedicated SAP extension will not be required.

For further details, please click here!

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