Treasurer Cash Pooling
If you have subsidiaries or accounts overseas, our treasurer cash pooling service will provide you with a greater integration between your accounts in Spain and abroad
To complement the domestic cash pooling structures or as a standalone solution to your overseas account administration needs, we make available to you a full range of tools for managing your accounts located anywhere in the world.
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Services and advantages
This service will enable you to:
• accurately control balances and movements from your own computer, using BS Online Companies in the case of the accounts of your Polish subsidiary, or set up an account to centralise the collections of your exports to the UK.
• transmit instructions from BS Online to the overseas bank in which the account is located, albeit to order a commercial payment or to order a centralisation transfer to your main account in Spain.
With the following advantages:
- Optimisation of cash, avoiding idle balances overseas, or eliminating overdrafts on account by ordering instant hedging transfers to your overseas account
- Sole multi-banking point of entry to your accounts anywhere in the world
- more effective cash management thanks to the standardisation of control and administration processes
- Greater transparency and centralisation of account information, enabling an overview of movements to be obtained
- Online availability of all information and management tools through our BS Online service
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- Operations
- The overseas bank sends daily statements by standard SWIFT MT940 messaging. The data is instantly added to your account information available on BS Online
- Account instructions are made through BS Online and a withdrawal application is made through a standard SWIFT MT101 message
- Fund transfers to the remote account are performed through BS Online using the standard SWIFT MT103
- A bilateral agreement must be held with the overseas bank. We currently hold agreements to exchange remote account management instructions with financial entities in almost 30 countries. This list can be extended at your convenience
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