Group account

Simple and effective management of funds!

Group account is a book account whose assets consist of the balances and reservations on the current account of group members and the overdraft of the group. Group account enables:

having a single view of all the group´s funds;
borrowing funds within the group;
convenient and centralized account handling;
reducing the need for external credit resources.

Please contact your manager in Swedbank for an offer.

Creation of an internal lending market

The cash pool account gives the opportunity to allocate the funds available inside the group to the member that needs them the most at the given moment.

Less need for external borrowing

Companies can use each other’s funds within the internal borrowing limits set for them.

Decreased interest expenses

In the case of a cash pool account, the positive and negative balances of the group members offset and the amount to which the overdraft interest rate is applied is smaller.

Better overview of the group's activities

You will get an overview of the entire group’s funds, which allows you to manage the group’s assets more efficiently.

Different cash pool account statements can be obtained through the electronic channel and they are available only to the parent company.

Cash pool account statement reflects the movement of money of the entire group, as well as of every member during the selected period by days.

Balance statement is a consolidated statement of the average and actual balances of group members over a certain time period.

Interest statement gives an overview of the positive and negative internal interest rates established for group members and the interest earned and/or to be paid within the group during the selected time period.

Group turnover statement gives an overview of the group’s turnover showing the opening and closing balances by account groups or members and the movements and balances on the account.

Statements can be made more flexible by grouping the accounts of group members (e.g. revenue account, expense account, payroll account, etc.) and by giving names to accounts if necessary.

Legal persons
Opening of a Swedbank, AB (hereinafter the "Bank") account (except non-residents legal persons³)	Free of charge
Documents/Data Verification fee¹:
For Legal entities registered outside Republic of Lithuania	EUR 300
For Legal entities, out of which at least one of the founders/shareholders in ownership/control structure and/or at least one of beneficial owners is not a resident³ of Republic of Lithuania OR at least one of the participants/shareholders in ownership/control structure is a legal entity registered outside Republic of Lithuania	EUR 300
For Legal entities, who's activity falls into a list of high risk activities²	EUR 300
Additional account opening for legal persons:
Using Swedbank Internet banking for Business	Free of charge
At the Bank branches⁴	EUR 20
Note: non-cash transactions via Bank accounts can be carried out in the following currencies: AED, AUD, BGN, CAD, CHF, CNY, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR. Note: transaction in EUR via Bank accounts can be carried out in cash and non-cash.
Minimum daily services fee, which includes: Maintaining a Bank account (including opening for residents and closing) Crediting of incoming payments within Swedbank Crediting of incoming payments in EUR from Swedbank Group banks⁶ Crediting of incoming payments in EUR from other banks incorporated in Lithuania Crediting of incoming payments in EUR – [ European payments]⁷	EUR 4.50 / month⁵
Account(s) Maintenance Fee⁸:
For Legal entities registered outside Republic of Lithuania and outside EU/EEA countries, but including Cyprus, Malta and Liechtenstein	from EUR 50 / month
For Legal entities, out of which at least one of the participants/shareholders in ownership/control structure and/or at least one of beneficial owners is not a resident⁹ of EU/EEA country (except Cyprus, Malta and Liechtenstein) OR at least one of the participants/shareholders in ownership/control structure is a legal entity registered outside EU/EEA countries (except Cyprus, Malta and Liechtenstein)	from EUR 50 / month
For Legal entities, who's activity falls into a list of high risk activities²	from EUR 50 / month
Account balance fee (ABF) for legal persons¹⁰
For legal entities with account balances exceeding EUR 500 000, SEK 9 500 000, DKK 7 500 000, CHF 1 000 000	Central Bank¹¹ annual interest rate (%)/ 360 days
For financial institutions¹² with account balances exceeding EUR 500 000, SEK 9 500 000, DKK 7 500 000, CHF 1 000 000	Central Bank¹¹ annual interest rate (%) minus 0.5 percentage point/ 360 days
Opening an account for legal persons via Bank
In Swedbank Group banks⁶	200 Eur
Fee for the verification of documents regarding accounts opened via Swedbank, AB, agreements, agreements on the provision of extra services as well as signature and stamp samples card change	15 Eur

Bank account-based transactions are carried out in accordance with the valid Bank’s rates of fees.

¹ Fee is charged in one of these occasions: (i) before starting verification of documents/data presented, and before making the decision to start business relationship with customer (the fee charged is not refunded despite the decision made by the Bank), (ii) if after making decision to start business relationship, founders/shareholders and/or beneficial owners of customer change as described in the criterias next to „Documents/Data Verification fee“ or business activity of customer is changed to high risk activity ² or such activity is added to customers activities.

² High Risk Activities:

arms production, arms trade, ammunition;
manufacture and sale of military machinery;
mining industry (applicable if materials are not extracted locally (for example, petroleum raw materials, uranium));
gambling houses (casinos), organization of other gambling and / or betting activities;
lottery organization, execution;
currency exchange;
payment institution / payment service provider;
e-money institution / e-money activity;
credit institution;
cash collection services;
operator of crowdfunding platform;
operator of a mutual lending platform.

³ A resident of the Republic of Lithuania is a person holding an identity document issued by the Republic of Lithuania and whose permanent place of residence is in the Republic of Lithuania OR a person holding an identity document issued by a country other than the Republic of Lithuania, but residing in the Republic of Lithuania respectively, and who is in possession of a document issued by the Republic of Lithuania, which entitles him/her to reside in Lithuania temporarily or permanently.

⁴ The fee does not apply if there is no technical possibility to open an account via Swedbank internet banking.

⁵ The fee applies to every customer account, including those where payment transactions are restricted for KYC/AML or other reasons.

⁶ Swedbank Group banks:

Swedbank (SWIFT code: SWEDSESS), Sweden, Stockholm

Swedbank (SWIFT code: SWEDFIHH), Finland

Swedbank (SWIFT code: SWEDNOKK), Norway

Swedbank AS (SWIFT code: HABAEE2X), Estonia

Swedbank AS (SWIFT code: HABALV22), Latvia

⁷ EUR-denominated transfer from the EU Member State, Andorra, Iceland, United Kingdom, Liechtenstein, Monaco, Norway, San Marino, Switzerland and Vatican if terms are acceptable, in this case the Payee’s bank SWIFT (BIC) must be indicated; the Payee’s bank account must be indicated in IBAN format; and the payment type is designated SHA.

⁸ Fee applies only to legal person which the Bank informs individually 30 calendar days in advance.

⁹ A resident of the EU/EEA countries (except Cyprus, Malta and Liechtenstein) is defined as a person who holds an identity document issued by any EU/EEA country (except Cyprus, Malta and Liechtenstein) and who is permanently resident in any EU/EEA country (except Cyprus, Malta and Liechtenstein) OR a person, who holds an identity document issued by a state other than the EU/EEA (except Cyprus, Malta and Liechtenstein) but who resides in any EU/EEA State (except Cyprus, Malta and Liechtenstein) and who holds a document issued by those states which confers the right of temporary or permanent residence in that state.

¹⁰ The fee is calculated at the end of each calendar day if the sum of the total account balances of a single legal person or financial institution¹² exceeds a specified limit in the relevant currency, multiplied by the absolute value, i.e. the modulus, of the relevant amount indicated in the table. The fee is waived if the specified central bank interest rate in the relevant currency is 0 or positive. The fee for the preceding calendar month shall be debited by the 15th day of the following calendar month in accordance with the procedure set out in the account agreement.

¹¹ EUR – Annual percentage rate of the European Central Bank for the use of the deposit facility
SEK – Sveriges Riksbank repo rate (%)
DKK – Danmarks Nationalbank Certificates of deposit rate
CHF – Swiss National Bank negative interest rate

¹² Financial institutions are undertakings (including their branches, representative offices, etc.) providing the services referred to in Article 3(1) of the Law on Financial Institutions of the Republic of Lithuania, as well as undertakings providing insurance services.

Free