{"id":52854,"date":"2026-05-18T09:00:42","date_gmt":"2026-05-18T07:00:42","guid":{"rendered":"https:\/\/www.sqorus.com\/international-notional-cash-pooling-flexibility-governance-and-financial-performance\/"},"modified":"2026-05-04T15:44:07","modified_gmt":"2026-05-04T13:44:07","slug":"international-notional-cash-pooling-flexibility-governance-financial-performance","status":"publish","type":"post","link":"https:\/\/www.sqorus.com\/en\/international-notional-cash-pooling-flexibility-governance-financial-performance\/","title":{"rendered":"International notional cash pooling: flexibility, governance and financial performance"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|0px|0px|0px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row module_class=&#8221;enbref&#8221; _builder_version=&#8221;4.27.5&#8243; custom_margin=&#8221;||5%||false|false&#8221; custom_padding=&#8221;0px|||||&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text module_class=&#8221;enbref-content&#8221; _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||12%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>In brief<\/strong><\/p>\n<p>A look back at the AFTE Commission on international notional cash pooling. Find out how this multi-currency cash management solution enables international groups to optimize their liquidity, reduce banking costs and strengthen their financial performance, despite complex legal and regulatory challenges. <\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>In an environment marked by market volatility and the growing complexity of international financial flows, finance departments are constantly seeking ways to optimize their <strong>liquidity management<\/strong>.<\/p>\n<p><strong>Notional cash pooling<\/strong> has emerged as one of the most structuring responses to these challenges, and one of the key levers in a high-performance <a href=\"https:\/\/www.sqorus.com\/en\/business-solutions\/cash-management\/\" title=\"Our Cash Management expertise\">cash management<\/a> strategy.<\/p>\n<p>The <a href=\"https:\/\/www.afte.com\/commissions-l-fonctions-et-expertises-de-la-tresorerie\" target=\"_blank\" rel=\"noopener\">AFTE &#8220;Cash Management International&#8221; Commission<\/a> focused on just such a topic, in a session dedicated to the benefits of <strong>notional cash pooling<\/strong>. JP Morgan and several major groups shared their practices and concrete feedback. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>What is notional cash pooling?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_margin=&#8221;||3%||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>To put it simply: in <strong>physical cash pooling<\/strong>, the cash balances of a group&#8217;s various entities are actually moved to a centralized account.<\/p>\n<p>In <strong>notional cash pooling<\/strong>, nothing physically moves. The credit and debit balances of each entity are <strong>offset virtually<\/strong>, a process also known as merging of interest scales, enabling the group to benefit from a consolidated net position without any actual movement of funds. <\/p>\n<p>The advantage? As soon as the group&#8217;s overall position is in credit, it can access other currencies, drastically limiting the often very high overdraft charges at local banks. A single debit rate and a single credit rate apply to all participating currencies.  <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; background_color=&#8221;#f7fbff&#8221; custom_margin=&#8221;||12%||false|false&#8221; custom_padding=&#8221;5%|5%|5%|5%|true|true&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>The <strong>result:<\/strong> simplified multi-currency management, with a consolidated view of liquidity at group level.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Cash pooling: which structure to choose?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>Notional cash pooling<\/strong> can take several forms, depending on the degree of centralization required:<\/p>\n<ul>\n<li><strong>Single entity<\/strong>: a single entity holds all notional accounts. It is the sole signatory of the banking documentation and the sole contact for the bank. <\/li>\n<\/ul>\n<ul>\n<li><strong>Multi-entity<\/strong>: each subsidiary participates directly in the mechanism and benefits more directly from the Group&#8217;s cash surpluses.<\/li>\n<\/ul>\n<ul>\n<li><strong>Hybrid model<\/strong>: for groups wishing to retain a degree of local autonomy, a central treasury entity can participate in the pool without directly exposing all subsidiaries.<\/li>\n<\/ul>\n<p>The choice of model depends above all on the maturity of the treasury function, the legal structure of the group and country-by-country regulatory constraints. An in-depth diagnosis of your treasury processes is often the essential starting point for identifying the most appropriate cash pooling structure. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Governance, legal and regulatory issues?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Beyond the financial mechanics, the <strong>implementation of notional cash pooling<\/strong> raises fundamental questions that should not be underestimated:<\/p>\n<ul>\n<li>The distribution of interests between entities included in the pool, which requires a clear, documented internal policy.<\/li>\n<\/ul>\n<ul>\n<li>Contractual complexity, which tends to increase over time as the pool&#8217;s scope evolves.<\/li>\n<\/ul>\n<ul>\n<li>The bank&#8217;s ability to demonstrate to the regulator, in the event of difficulty, the effective offsetting of all balances and the return to a net position.<\/li>\n<\/ul>\n<p>Furthermore, some countries outright prohibit this type of <strong>cash pooling<\/strong> structure, as do certain banks, particularly when the JSL (Joint and Several Liability) mechanism is not applicable. In-depth regulatory analysis is therefore essential, country by country, before any implementation. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; background_color=&#8221;#f7fbff&#8221; custom_margin=&#8221;||12%||false|false&#8221; custom_padding=&#8221;5%|5%|5%|5%|true|true&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>It<strong>&#8216;s also worth noting<\/strong> that inter-company flows, where they exist, are based exclusively on physical movements, in a logic of inhouse banking, and not on notional amounts. This is an important distinction that needs to be integrated into the governance of the system. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Feedback: what major companies are saying<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>The testimonies gathered during the AFTE Commission illustrate in concrete terms the added value of <strong>notional cash pooling<\/strong>:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Fabienne L\u00e9on<\/strong> (Head of Group Cash Liquidity &amp; Settlements) described a group operating with 3 main currencies, 19 exotic currencies and 16 banking partners. In 2023, the implementation of a multi-currency notional cash pooling solution to complement the existing physical cash pooling provided significant operational flexibility on a day-to-day basis. <\/li>\n<\/ul>\n<ul>\n<li><strong>Herv\u00e9 Toukara<\/strong> (Head of Treasury, ESG) presented a structure built around two pools: a classic euro cash pool and a notional multi-currency cash pool, to cover distinct needs.<\/li>\n<\/ul>\n<ul>\n<li><strong>Olivier Salmon<\/strong> (Head of Treasury, Edenred), a fervent supporter of notional cash pooling, is piloting a scheme involving some twenty currencies and around 120 accounts, with clear governance over entity participation.<\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;3_5,2_5&#8243; make_equal=&#8221;on&#8221; admin_label=&#8221;Image block + text&#8221; module_class=&#8221;bloc_2_colonnes&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#a4d0fa&#8221; custom_margin=&#8221;||8%||false|true&#8221; custom_margin_tablet=&#8221;||10%||false|true&#8221; custom_margin_phone=&#8221;||15%||false|true&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;50px|50px|50px|50px|true|true&#8221; animation_style=&#8221;fade&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; locked=&#8221;off&#8221; collapsed=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_5&#8243; module_class=&#8221;colonne_texte&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||||false|false&#8221; custom_padding_tablet=&#8221;||||false|false&#8221; custom_padding_phone=&#8221;||||false|false&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text admin_label=&#8221;Titre &#8211; H2&#8243; module_class=&#8221;Titre_40&#8243; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||10px||false|false&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Contact us for your cash management project<\/h2>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Texte&#8221; module_class=&#8221;TexteCorps&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;0px||||false|false&#8221; animation_style=&#8221;fade&#8221; animation_direction=&#8221;left&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Get visibility on your cash and make reliable forecasts to centralize your liquidity with SQORUS support.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/contact\/&#8221; button_text=&#8221;Contact&#8221; button_alignment=&#8221;left&#8221; module_class=&#8221;Bouton fond_blanc&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_color=&#8221;#f36245&#8243; button_border_width=&#8221;1px&#8221; button_border_color=&#8221;#f36245&#8243; 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position_origin_a=&#8221;top_right&#8221; position_origin_r=&#8221;top_right&#8221; vertical_offset=&#8221;30px&#8221; horizontal_offset=&#8221;-12px&#8221; z_index=&#8221;1&#8243; vertical_offset_tablet=&#8221;30px&#8221; vertical_offset_phone=&#8221;20px&#8221; vertical_offset_last_edited=&#8221;on|phone&#8221; horizontal_offset_tablet=&#8221;55px&#8221; horizontal_offset_phone=&#8221;0px&#8221; horizontal_offset_last_edited=&#8221;on|phone&#8221; position_origin_a_tablet=&#8221;top_right&#8221; position_origin_a_phone=&#8221;top_right&#8221; position_origin_a_last_edited=&#8221;on|tablet&#8221; position_origin_f_tablet=&#8221;&#8221; position_origin_f_phone=&#8221;&#8221; position_origin_f_last_edited=&#8221;on|tablet&#8221; position_origin_r_tablet=&#8221;top_right&#8221; position_origin_r_phone=&#8221;top_right&#8221; position_origin_r_last_edited=&#8221;on|tablet&#8221; custom_padding=&#8221;25px|24px|25px|24px|true|true&#8221; custom_padding_tablet=&#8221;2rem|2rem|2rem|2rem|true|true&#8221; custom_padding_phone=&#8221;16px|15px|16px|15px|true|true&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; positioning_tablet=&#8221;absolute&#8221; positioning_phone=&#8221;absolute&#8221; positioning_last_edited=&#8221;on|tablet&#8221; border_radii=&#8221;on|200px|200px|200px|200px&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_icon][et_pb_image src=&#8221;https:\/\/www.sqorus.com\/wp-content\/uploads\/2024\/05\/Parcours-Votre-evolution-chez-SQORUS-1.png&#8221; alt=&#8221;SQORUS logo&#8221; title_text=&#8221;SQORUS logo&#8221; align=&#8221;center&#8221; align_tablet=&#8221;center&#8221; align_phone=&#8221;center&#8221; align_last_edited=&#8221;on|tablet&#8221; disabled_on=&#8221;off|off|off&#8221; module_class=&#8221;image_fond&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; background_enable_image=&#8221;off&#8221; positioning=&#8221;relative&#8221; width_tablet=&#8221;80%&#8221; width_phone=&#8221;80%&#8221; width_last_edited=&#8221;on|phone&#8221; animation_style=&#8221;slide&#8221; animation_direction=&#8221;right&#8221; animation_duration=&#8221;2000ms&#8221; animation_intensity_slide=&#8221;20%&#8221; border_radii=&#8221;on|300px|300px|300px|300px&#8221; border_width_all=&#8221;10px&#8221; border_color_all=&#8221;#d9e0e5&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|||||&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>The concrete benefits of notional cash pooling<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>The gains identified by stakeholders converge in several areas:<\/p>\n<ul>\n<li><strong>Reduced overdraft fees<\/strong> and better return on credit balances<\/li>\n<\/ul>\n<ul>\n<li><strong>Fewer FX transactions<\/strong> (especially swaps), which eases the operational burden on teams<\/li>\n<\/ul>\n<ul>\n<li><strong>Smoother payments<\/strong> and fewer payment incidents<\/li>\n<\/ul>\n<ul>\n<li><strong>Reduce manual tasks<\/strong>, freeing up time for higher value-added activities<\/li>\n<\/ul>\n<ul>\n<li><strong>Significant cash flow<\/strong> to the holding company, while respecting local constraints<\/li>\n<\/ul>\n<p>Financial gains are quickly realized, even if setting up a <strong>cash pooling<\/strong> system requires a substantial initial investment.  <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Setting up notional cash pooling: key prerequisites<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>Notional cash pooling<\/strong> is not a turnkey solution. Its success depends on several conditions: <\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>Well-anticipated IS integration: TMS, ERP, accounting interfaces &#8211; IT plays a key role, particularly for flows between systems.<a href=\"https:\/\/www.sqorus.com\/en\/finance-transformation-consulting\/\" title=\"Our expertise in Finance transformation\">Assistance in choosing and implementing a TMS<\/a> is often a project in its own right. <\/li>\n<\/ul>\n<ul>\n<li>A well-chosen banking partner, considered essential by all concerned.<\/li>\n<\/ul>\n<ul>\n<li>Accurate, reliable reporting, a guarantee of confidence and effective management.<\/li>\n<\/ul>\n<ul>\n<li>Structured change management, as the interdependence between entities and the need for a strong cash culture within the group should not be underestimated.<\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Team training, limits and prospects<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Increasing the skills of treasury teams is a challenge in its own right. It is based above all on <strong>clear, educational reporting<\/strong>, as well as on mastery of concepts specific to <strong>notional cash pooling<\/strong>: ZBA (Zero Balance Account), interest calculation, balance valuation. Concepts which may seem technical, but which quickly become reflexes once the system is in place.  <\/p>\n<p>In terms of <strong>operational limitations<\/strong>, speakers pointed to a number of points to watch out for: bank cutoffs, certain local technical constraints, and the documentary and tax complexity of countries such as Brazil, India, Turkey and Canada.<\/p>\n<p>As for the <strong>medium-term outlook<\/strong>, expectations focus more on improved interbank cooperation and smoother processes than on artificial intelligence, which is judged to be still too immature to provide significant added value in these areas. This pragmatic stance contrasts with the sometimes excessive enthusiasm surrounding AI in other areas of finance. <\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Notional cash pooling: a governance choice first and foremost<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; inline_fonts=&#8221;Roboto&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><strong>Notional cash pooling<\/strong> is not a technological revolution. It is above all a <strong>choice of governance<\/strong>, which requires rigor, cross-functionality and a long-term vision. It is naturally aimed at groups with a structured treasury function and sufficient maturity in <strong>cash management<\/strong> issues.  <\/p>\n<p>When properly designed and managed, it makes a lasting contribution to <strong>financial performance<\/strong>, <strong>operational resilience<\/strong> and the<strong>overall efficiency of liquidity management<\/strong>&#8211; three issues at the heart of today&#8217;s financial management priorities.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=&#8221;on|desktop&#8221; module_class=&#8221;cta-bleu&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#20299f&#8221; background_image=&#8221;https:\/\/www.sqorus.com\/wp-content\/uploads\/2026\/04\/Bandeau-Guide-ISO-20022.png&#8221; background_size=&#8221;contain&#8221; background_position=&#8221;center_right&#8221; width=&#8221;100%&#8221; width_tablet=&#8221;90%&#8221; width_phone=&#8221;90%&#8221; width_last_edited=&#8221;on|phone&#8221; custom_margin=&#8221;||5%||false|true&#8221; custom_padding=&#8221;50px|400px|50px|55px|true|false&#8221; custom_padding_tablet=&#8221;50px|55px|50px|55px|true|true&#8221; custom_padding_phone=&#8221;40px|55px|40px|55px|true|true&#8221; background_last_edited=&#8221;on|phone&#8221; background_enable_image_tablet=&#8221;off&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text module_class=&#8221;Titre_40 Titre_blanc&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; header_2_font_size=&#8221;30px&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>ISO 20022: 6 steps to avoid rejected payments<\/h2>\n<p>[\/et_pb_text][et_pb_text module_class=&#8221;FondBleu&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_text_color=&#8221;#d6d8f4&#8243; text_line_height=&#8221;30px&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>On November 18, 2026, unstructured addresses will be definitively rejected by banks. No exceptions. No further delay. Secure your migration with our guide!   <\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/?p=52275&#8243; button_text=&#8221;Download&#8221; button_alignment=&#8221;left&#8221; button_alignment_tablet=&#8221;center&#8221; button_alignment_phone=&#8221;center&#8221; button_alignment_last_edited=&#8221;on|tablet&#8221; admin_label=&#8221;Bouton de t\u00e9l\u00e9chargement&#8221; module_class=&#8221;Bouton Fond_blanc&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_size=&#8221;15px&#8221; button_text_color=&#8221;#f36145&#8243; button_bg_color=&#8221;#FFFFFF&#8221; button_border_width=&#8221;1px&#8221; button_border_color=&#8221;#f36145&#8243; button_border_radius=&#8221;50px&#8221; button_font=&#8221;||||||||&#8221; button_use_icon=&#8221;off&#8221; custom_margin=&#8221;20px||||false|false&#8221; custom_padding=&#8221;13px|25px|13px|25px|false|false&#8221; custom_css_free_form=&#8221;selector:hover{||  background-color: #FFF6F5 !important;||}&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Section &#8211; Blog &#8211; Cta Actu&#8221; module_class=&#8221;Fond_bleu Fond_icone&#8221; _builder_version=&#8221;4.27.0&#8243; custom_margin=&#8221;5rem||5rem||true|true&#8221; custom_margin_tablet=&#8221;4rem|40px|4rem|40px|true|true&#8221; custom_margin_phone=&#8221;|20px||20px|false|true&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;3rem||3rem||true|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row make_equal=&#8221;on&#8221; admin_label=&#8221;Text block&#8221; module_class=&#8221;LargeurBox&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; animation_style=&#8221;fade&#8221; locked=&#8221;off&#8221; collapsed=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;|9rem||9rem|false|true&#8221; custom_padding_tablet=&#8221;|0rem||0rem|false|true&#8221; custom_padding_phone=&#8221;|0rem||0rem|false|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text admin_label=&#8221;Sous-titre&#8221; module_class=&#8221;SousTitre&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_orientation=&#8221;center&#8221; custom_margin=&#8221;||10px||false|false&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Contact<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Titre &#8211; H2&#8243; module_class=&#8221;Titre_40&#8243; _builder_version=&#8221;4.26.1&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>A project? A request?A question?<\/h2>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Texte&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; text_text_color=&#8221;#d2d4ec&#8221; text_orientation=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Our finance experts will help you analyze your needs, choose the right structure and implement your project.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/contact\/&#8221; button_text=&#8221;Contact SQORUS&#8221; button_alignment=&#8221;center&#8221; module_class=&#8221;Bouton fond_orange&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;30px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.27.5&#8243; custom_margin=&#8221;10%||||false|false&#8221; custom_padding=&#8221;0px|0px|0px|0px&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.5&#8243; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>FAQ &#8211; Notional cash pooling<\/h2>\n<p>[\/et_pb_text][dsm_faq dsm_make_accordion_toggle=&#8221;on&#8221; dsm_open_faq_item=&#8221;on&#8221; dsm_enable_schema_markup=&#8221;on&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][dsm_faq_child dsm_title=&#8221;What&#8217;s the difference between physical cash pooling and notional cash pooling?&#8221; dsm_content=&#8221;<\/p>\n<p><strong>Physical cash pooling<\/strong> involves actual transfers of funds between subsidiary accounts and a central account. <strong>Notional cash pooling<\/strong>, on the other hand, virtually offsets balances without any cash movement: interest is calculated on the group&apos;s consolidated net position. <\/p>\n<p>&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/dsm_faq_child][dsm_faq_child dsm_title=&#8221;Is notional cash pooling right for international groups?&#8221; dsm_content=&#8221;<\/p>\n<p>In fact, it&apos;s one of its key strengths. It makes it possible to manage several currencies simultaneously without multiplying FX transactions, while preserving the operational autonomy of local subsidiaries. Beware, however, of regulatory restrictions specific to certain countries.  <\/p>\n<p>&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/dsm_faq_child][dsm_faq_child dsm_title=&#8221;What tools are needed to set up notional cash pooling?&#8221; dsm_content=&#8221;<\/p>\n<p>A Treasury Management System (TMS) is generally at the heart of the system, complemented by interfaces with ERP and accounting systems. The choice and implementation of these tools are key stages in the project. <\/p>\n<p>&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/dsm_faq_child][dsm_faq_child dsm_title=&#8221;What are the main risks of notional cash pooling?&#8221; dsm_content=&#8221;<\/p>\n<p>The main risks relate to legal and fiscal complexity (particularly in international markets), interdependence between entities, and the need for reliable reporting to effectively manage the system. In-depth upstream analysis and expert support are highly recommended. <\/p>\n<p>&#8221; _builder_version=&#8221;4.27.5&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/dsm_faq_child][\/dsm_faq][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Find out how notional cash pooling optimizes liquidity management for international groups. Feedback and Council. <\/p>\n","protected":false},"author":122,"featured_media":52455,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[579],"tags":[],"metiers":[224],"sujet":[215],"class_list":["post-52854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cash-management-en","metiers-finance-en","sujet-business-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>International notional cash pooling: all you need to know - SQORUS<\/title>\n<meta name=\"description\" content=\"Find out how notional cash pooling optimizes liquidity management for international groups. 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