Benefits
- Convenient pooling of surplus cash: all deposits to the sub-account will be transferred to the main account immediately.
- Eliminate the need to keep funds idle in the sub-account as the main account will automatically fund the sub-account against withdrawals.
- Reduce administrative costs.
- Reduce OD utilization by efficiently fund corporate accounts through affiliates and subsidiaries within the group company.
Conditions
- Group pooling is only eligible for companies and its direct affiliates and subsidiaries with shareholding more than 25% in the past 6 months.
- The use of the ttb cash pooling service shall cancel and supersede all existing pooling structure with the bank.
- Intraday automatic transfer system is only available for funds deposited or transferred to sub-accounts via bank counter or ATM/ADM or ttb business one, IVR or Call Center channel only.
- Intraday transfers available for deposits or drawdowns made between 05.00 a.m. – 10.00 p.m.
- The system will only transfer funds if there are sufficient funds in the account or credit limit according to the amount requested for withdrawal and transfer from sub-account only. If there is not enough money in the main account or not enough money to proceed. Automatic transfers will not be made.
Document Required
For Juristic Persons
- Copy of company registration certificate up to 3 months old and signed by authorized person or company authorized person to certify a valid copy
- A copy of the identities of authorized persons or the persons representing the Company and signing a valid copy
- Power of attorney on behalf of the Company (if any)
- Letter of intention specifying intercompany lending and borrowing rates (if any)
