As a financial institution involved in international business financial organisations need to manage ‘nostro’ relationships in foreign currencies.
What’s more, maintaining accounts with other banks on a worldwide basis can be both time-consuming and cost intensive.
As a leading clearing bank for the euro, we are playing a pro-active role in the concentration process with ongoing investments into systems infrastructure and innovative solutions to assist clients in concentrating their euro payment volumes.
Clients who maintain their main currency account (euro, US dollar and/or British Pounds) with us can benefit from our flexible multicurrency offering.
Client accounts are held as individual sub-accounts of the main euro account in Frankfurt for each supported currency. Through Nostro Accounts within our local branches or dedicated Partner Banks, our Frankfurt offices has direct access into the respective local clearing system. This allows us to provide you with the same high standards of service including reporting and investigation for currencies/countries with a matured clearing system.
Extensive multicurrency clearing
We offer you the flexibility to maintain accounts in a wide range of foreign currencies through which both treasury and commercial payments can be cleared. You control the balances and provide instructions on payments in the respective currencies. Positions are maintained and traded by us (the account holder) and provides account information and inquiry services through our Internet-based payment inquiry module, Cash Inquiry.
Robust FX services
In the case of more exotic currencies, or for those currencies with limited volume flows, it often does not make economic sense to maintain individual accounts. That’s why we offer a service to process these currency transactions via a standard euro account. The currencies are executed as a debit or a credit to the euro account. We obtain the underlying FX rate automatically via our link to our trading platform as an intraday live rate. All required information on the FX is available to the account holder via the end-of-day statement MT940/MT950, the intraday MT942 or can be viewed on Cash Inquiry directly after processing.
Automated Intermediary Bank (IBK) selection
Our Intermediary Bank (IBK) Selection simplifies the routing for payments without an instruction regarding the intermediary bank. The IBK Selection is based on our own internal database which is constantly reviewed in line with SSI’s, Clearing Directories and is in accordance with instructions from our clients who have asked us previously to pay the same beneficiary. Our IBK Selection process is fully automated for more than 99% of the respective payments.
Online access to investigations and inquires
Through the use of our Autobahn Cash Inquiry App, clients can conduct research and inquire on high-value funds transfer transactions in real-time, initiate funds transfer investigations and determine the status of existing investigations. Cash Inquiry is a window into our internal funds transfer investigations platform and allows access to the same information as the service staff, allowing clients to closely monitor the status of investigations.
The Asian Banker Transaction Banking Awards, May 2016
- Best International Transaction Bank, Asia Pacific
- Best Global (EUR & USD) Clearing Bank, Asia Pacific
- Best International Cash Management Bank, Asia Pacific
FImetrix LLC, Distinguished Providers 2018
(Six consecutive years)
- Distinguished Provider of Transaction Banking Services in EUR and USD
Euromoney Cash Management Survey, Oct 2015Financial institutions
- No. 1 Best Cash Manager for Financial Institutions
- Leading EUR and USD provider for Financial Institutions
Western Europe: No 1 for EUR, No 1 for USD
Central and Eastern Europe: No 1 for EUR, No 1 for USD
North America: No 1 for EUR, No 1 for USD
LatAm: No 1 for EUR, No 1 for USD
Asia: No 2 for EUR, No 3 for USD
Africa: No 1 for EUR, No 2 for USD
Middle East: No 1 for EUR, No 2 for USD