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

Group 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.

Opening accounts

Effective as of 01.10.2020
Opening an account free of charge
Fee for enhanced due diligence measures The fee will be paid before bank makes an account opening decision. The fee is not returned if the bank decides not to open the account. The fee will not be applied for each consecutive account opening.
Estonian legal persons with non-residents included as representatives or in the ownership structure 300 €
Legal persons from European Economic Area (excl. Cyprus, Luxembourg, Malta, Liechtenstein) 300 €
Legal persons from other states (incl. Cyprus, Luxembourg, Malta, Liechtenstein) 500 €
Legal persons whose field of activity includes: Provider of payment services, payment institution or E-money institution; producing/sales/purchase of weaponry or ammunition (excl. hunting associations, shooting ranges, sports clubs); gambling; currency exchange; production of military vehicles; transportation of cash; co-financing platforms; offering fast credit; mining. 500 €
Opening an account in banks of Swedbank Group
Opening an account in banks of Swedbank Group via Swedbank Estonia 200 € + courier service fee According to courier service provider.
Entry into additional contracts, amendments and specimen signature cards in a bank in the Swedbank Group via Swedbank Estonia For a customer of Swedbank Estonia whose account is with a Swedbank Group and for a customer of a Swedbank Group whose account is with Swedbank Estonia. 15€+ courier service fee According to courier service provider.
Sending identification tools and cards to banks in the Swedbank Group via Swedbank Estonia For a customer of Swedbank Estonia whose account is with a Swedbank Group and for a customer of a Swedbank Group whose account is with Swedbank Estonia. 15€ + courier service fee According to courier service provider.
Opening a start-up account free of charge
Deposits free of charge

Account information and handling

Effective as of 26.04.2021
Account statement from internet-bank free of charge
Account statement from a branch Fee for the transmission of bank documents is added. 5 €
Monthly fee of Baltic Reports in internet-bank for business clients Baltic Reports means a daily consolidated report of the balance of funds on current and group accounts and in the overnight deposit opened in Swedbank (Estonia, Latvia, Lithuania) of a company or companies belonging to the same group. 13 €
Monthly fee of Baltic Reports for the customers of the group account module in internet-bank for business clients 6,40 €
Current account default interest rate 0.2% a day
Monthly fee for servicing a client

Fee for a legal person for whom regular enhanced due diligence measures are required due to geographical location, complicated ownership structure and/or field of activity. Applying the fee will be announced 30 days in advance. Fee is applied for legal persons:

  • who are registered in Malta, Liechtenstein, Cyprus or outside the European Economic Area
  • whose owners or beneficial owners include at least one person, who’s personal identification document has been issued in Malta, Liechtenstein, Cyprus or outside the European Economic Area and who is not a resident of Estonia; Person who does not have a passport or ID card or other identification document issued by the Republic of Estonia.
  • whose structure includes at least one company that is registered in Malta, Liechtenstein, Cyprus or outside the European Economic Area;
  • whose field of activity includes producing/sales/purchase of weaponry or ammunition (excl. hunting associations, shooting ranges, sports clubs); gambling; currency exchange; production of military vehicles; transportation of cash; co-financing platforms; offering fast credit; mining.
50 €
Account balance fee Account balance fee is presented as a percentage on a basis of year (360 days) and is equal to the respective currencies published by the central banks' interest rate. Account balance fee is calculated on the account balance at the end of a day (group account balance in case of group) and is rounded to two places after the decimal point. For calculating the fee, the total balance of all current accounts of the client in the given currency will be taken into account. Account balance fee calculated on current accounts is debited from account once a month not later than on the 10th day following the calculating month. Fee is not applied if the published central bank interest rate is 0 or positive. Application of fee will be announced 30 days ahead.
In case account balance exceeds 1 000 000 EUR
ECB deposit facility rate
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