European Management Account leaflet

EUROPEAN MANAGEMENT ACCOUNT
June 2011
Summary
1. For which customers?
2. The "European Management Account" service
3. Description of the Service
4. Advantages
5. Reporting Tools
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The Customers
Corporate:
Exporting companies towards France or Europe, wishing to
accelerate the collection of their receivables.
Retail Customers:
Beneficiaries receiving funds from individuals or French
organizations (pensions, transfers from foreign residents,
individuals).
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Description of the Service
• The centralising account opened in the name of your
exporting customer is a sub-account of your LORO account
in the books of Natixis
• Credit transactions are booked on the centralising account,
and are zero-balanced to your LORO account on a pre-set
periodicity (daily, ten days or monthly periods) or when the
balance reaches an amount agreed about.
• Your centralizing account can also be zero-balanced and
credited to your LORO account on transaction by
transaction basis.
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11 July 2012
European Management Account allows :
• For your exporter customers to centralize their debts due in
France and in Europe.
• For individuals to receive funds from other individuals or
from French organizations (pensions, allowances).
• To collect cheques denominated in euros drawn on banks
located in France as well as receive transfers in euros from
France and Europe.
• Various reporting tools are at the disposal of your exporting
customers.
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How does it work ?
example: Corporate
Sends the invoice together with the identification form providing:
- Payment Instructions (cheque or transfer)
-Centralising account number to be credited at Natixis
Foreign Exporter
French Importer
-- Invoice reference
2
1
Pays by cheque and sends
it with the identification
form in order to credit the
centralising account
Debits the centralising
account and credits your
LORO account + reports
by MT 940
Correspondent Bank
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4
Transfers the due
sum to the credit of
the centralising
account
3
French Bank
How does it work ?
Example: Individuals
Correspondent’s
web site
Your foreign customer
4
Your customer in France
1
Sends the MT940
and credits your
LORO account in EUR
Correspondent Bank
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3
Sends a domiciled order via
CORE (Compensation
Retail System) to the credit of the
centralising account
2
French Bank
How does it work ?
Balance Transfer to your LORO account
Cheque
Cheque
Transfer
Cheque
Transfer
Customer Centralising
Account
D
C
100
200
500
250
800
1850
MT 940
Correspondent Bank
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Detailed Centralising Account
reporting
100
200
500
250
800
LORO account of the
correspondent bank
D
C
1850
MT 950
LORO account reporting
Advantages
Simplicity:
Opening of resident's account without needing standard documents
(status translated, marginal note of the Hague, account supplying
forms).
Safety:
Fewer intermediaries, and your cheques are issued and collected in
France. Forgery, theft and loss risks are limited.
Shorter process time:
Cut down on any postal delays.
Faster payment process in France and in Europe due to the IBAN
provided at the opening of the sub-account.
Low cost:
One single clearing system from A to Z.
Possibility to use the "French and European System of
compensation", and to benefit of a more competitive price.
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Reporting Tools
To receive detailed information for each movement of your customers
conducted on their centralising account, we offer several alternatives:
Feedback by SWIFT
• MT 940
• MT 950
Feedback by Internet
•
•
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Consultation of your account from the Bank Area
Sending account statements by e-mail
11 July 2012
Reporting by MT940
<I:FOlNATXFRPPAPAR2454306740> REF :
X232119001
00
<2:I940XXXXXXXXXXXXN>
Etat: AKR le 21/02/1998 a 04h05
<3:
pour BANK NAME
<108:X232119001»
<4:
Reference de Ilemetteur..
Reference d'origine ......
Identification IBAN.
No d'extrait (node page).
Premier ancien solde .....
Ecriture.
Info supplement
Ecriture.
Info supplement
:20: X232119/001
:21: YOUR EXPORTER CUSTOMER
:25: 91112345
:28C: 00036/001
:60F:C 19/02/98 EUR 1126864,06
:61: 20/02/04 20/02 D 1207552,2 NMSC 00091100000//EXTAUTO
:86: EXTOURNE DECADAIRE
DU SOLDE
SUR LE COMPTE:00091100000
:61: 25/02/04 20/02 C 14558,4
NCOL CHEQUE//B004270
:86: CPTE CENTRALISATEUR CHEQUES
SBF
FREDRIC SARL FACT 6395/6065
:61: 25/02/04 20/02 C 4187,1
NCOL CHEQUE//B004264
:86: CPTE CENTRALISATEUR CHEQUES
SBF
PEGEFFE SA FACT.7834
:61: 25/02/04 20/02 C 4760,
NCOL CHEQUE//B004264
:86: CPTE CENTRALISATEUR CHEQUES
SBF
SA CHONCHE FACT.8131
:61: 20/02/04 20/02 C 10576,
NMSC 10 00//0219000012
:86: VIR D'ORDRE NARDINI
Nouveau solde final ......
NV.solde.D: ............
NV.solde.d: ........ ......
NV.solde.d: ............
NV.solde.d: ............
REF P7240 7172
VIREMENT NARDINI
:62F:
C
20/02/04
:64:
D
20/02/04
65D
23/02/04
:65:
D
24/02/04
:65:
C
25/02/04
Ecriture.
Info supplement
Ecriture.
Info supplement
Ecriture.
Info supplement
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EUR
EUR
EUR
EUR
EUR
0,
38333,75
33772,75
23505,5
0,
Receiver’s reference
Value date - Amount
Operation reference
Sender - Invoice
Reference
Reporting by MT 950
<I:FO1NATXFRPPAPAR2454306241> REF :
Etat: AKR le 21/04/2011 a 03h58
X231735002
00 <2:1950XXXXXXXXXXXXN>
<3:
pour VOTRE BANQUE <108:X231735002»
<4:Reference de l’emetteur..
:20: X231735/002
Identification IBAN.
:25: 91100000
No d’extrait (ncde page).
:28C: 00037/002
Anc solde intermediaire..:
60M:
D
Ecriture.:
61:
20/04 20/04 C 1207552,2 NMSC 00091112345//EXTAUTO
Nouveau solde final…:
62F:
D
20/04/11 EUR 24919247,39
NV.solde.D:…
:64:
C
20/04/11 EUR 232007,29
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20/04/11 EUR 40546831,82
Reporting by Internet
Commercial Portal – Espace banque – Consultation of
accounts by Internet
Accounts statements and details of transactions in real time 24/24.
Researchs and checking entries on past dates.
Visualisation of detailed informations related to the accounting side (references
debits & credits as well as balances).
SMTP, Statement of Accounts by e-mail
All the movements on an accounting day.
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Contact us
Phone
Fax
Name
Function
Paul Cabedo
Head of Transactional banking
+33 1 58 19 85 58
+33 1 58 19 32 80
[email protected]
Frank Avanzini
Network Manager
+33 1 58 19 13 35
+33 1 58 19 32 80
[email protected]
Network Manager
+33 1 58 19 32 20
+33 1 58 19 32 80
[email protected]
Network Manager
+33 1 58 19 37 60
+33 1 58 19 32 80
[email protected]
Network Manager
+33 1 58 19 47 91
+33 1 58 19 32 80
[email protected]
Relationship Manager
+33 1 58 19 35 78
+33 1 58 19 32 80
[email protected]
Maryna Pozas
Customer support
+33 1 58 19 37 22
+33 1 58 19 32 80
[email protected]
Sylvie Rousset
Customer support
+33 1 58 19 31 91
+33 1 58 19 32 80
[email protected]
Colette Vanoosten
Network Manager
+33 1 58 19 38 87
+33 1 58 19 32 80
[email protected]
USA, Canada, Germany,
Poland, Turkey
Annie Da Costa
Italy, Greece, Malta,
DOM-TOM, French Banks
Eric Denormandie
Belgium, Netherlands,
Luxembourg, Austria,
Switzerland, Africa
Emeline Elizée
Great Britain, Ireland,
Scandinavia, Russia, Eastern
Europe, Near and Middle East
Patrick Lara
Spain, Portugal, Andorra,
E-mail
Latin America, Asia
Cameroon, Congo (RDC), Mali,
Sénégal, Côte d’Ivoire
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11 July 2012