Target Balancing

To automate cash management on corporate accounts, including accounts of group of companies, Prominvestbank offers ‘Target Balancing’ product.

Target Balancing offers automatic accumulation of balances of funds available on accounts of company subdivisions (subaccounts) on the main company’s account (master account).

By taking advantage of this service, corporate customers will no longer have to check account balances of company subdivisions and generate a large number of funds transfer orders, if funds need to be accumulated in the main company’s account. This service allows to accumulate, within the period of time agreed upon with the customer, balances of funds available on accounts of company subdivisions or subsidiaries on the main company’s account.

The Target Balancing service will be especially valuable to groups of companies with decentralized organization, because it allows to:

  • optimize management of company accounts;
  • strengthen financial discipline within the group;
  • organize monitoring of how funds are used by controlled companies;
  • improve transparency of current account balance maintenance;
  • save time by automating all operations.

Using Target Balancing, customers may set parameters of automatic funds transfers at own discretion by selecting the most acceptable options:

Automatic transfer amount setting:

  • 100% of subaccount(s) balance to master account (account balance amount left after automatic transfer will be zeroed);
  • fixed amount;
  • amount exceeding a fixed target subaccount balance;
  • fixed interest rate on account balance;
  • fixed interest rate on subaccount balance exceeding a target amount.

Automatic transfer period setting:

  • daily;
  • weekly, on a certain day of the week;
  • monthly, on a certain day of the month.

Automatic transfer time setting:

  • certain time of a banking day;
  • at the end of a banking day;
  • at the beginning of a banking day.

Therefore, Target Balancing is a product ‘custom-tailored’ for each customer, because to realize its functional, we select options which would fit the needs of each corporate customer to the maximum extent possible.