Corporate & Investment Bank

International Cash Management

J.P. Morgan offers a full range of international cash management services including:

Bank Accounts

Australian based organisations trading with overseas counterparties or operating abroad usually need accounts held offshore to facilitate trading, treasury management or in-country operating activities.

At the same time, they want to exercise regional or global control in accordance with their corporate treasury policies by ensuring they have full visibility, and sometimes control, over transactions and balances held in offshore accounts.

J.P. Morgan supports these aims by providing a range of account options including:

  • In-country bank accounts across more than 50 countries to support in-country business activities
  • Multiple currency pooling accounts domiciled in major financial centres like London to support intercompany lending and cash concentration activities
  • Multi-currency clearing services to streamline centralised cash management activities

In-country accounts are ideal for organisations with ground operations requiring domestic collections and payments. These are typically operated by the in-country finance team and monitored by the organisation's regional or global treasury centre.

Pooling accounts are typically held within a financial centre to concentrate balances across subsidiaries for each major trading currency.

J.P. Morgan's Multicurrency Clearing Account Services (MCAS) are designed to streamline cash flows in more than 40 currencies by holding accounts in one location rather than in the country of origin for each currency. This suits situations where an organisation is dealing in a range of currencies but does not require a full domestic cash management solution for each country or wishes to manage a set of centralised cash management activities separate to in-country activities.

As a result, the client can:

  • Access accurate transaction details quicker, enabling them to make faster credit, investment and funding decisions
  • Benefit from the simplicity of maintaining a single relationship and make the best use of available funds throughout the day to minimise liquidity issues
  • Encounter less paperwork as a single legal agreement covers all multicurrency accounts

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J.P. Morgan supports a range of payment services around the world. Generally speaking it supports most domestic payment types in each of the countries where it operates.

J.P. Morgan also supports a range of centralised disbursement solutions that enable clients to initiate and send payment instructions from any country supported by J.P. Morgan to any other country supported by J.P. Morgan's network of global operations. This means that a global shared services centre in Australia can initiate domestic payments in multiple currencies and payment types (e.g. cheque, draft, wire or giro) for domestic delivery in a variety of countries where it might be operating.

Payment files can be sent via J.P. Morgan's internet banking platform, ACCESS, or via host delivery from an ERP or treasury management system. J.P. Morgan also support payments generated via SWIFT Corporate and other multi-banking arrangements.

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J.P. Morgan supports a range of in-country collection solutions for the 50 countries where it has domestic operations. All collections are visible through J.P. Morgan's internet banking platform, ACCESS, or via host to host delivered collection files for uploading into ERP systems, providing clients with visibility over collections wherever they are processed.

In many countries J.P. Morgan also offers automated matching and reconciliation of inward payments to outstanding receivables using its online receivables matching software, Receivables Edge, which clients can access via J.P. Morgan's internet banking system, ACCESS. This enables clients to reduce the level of manually matched items and speed the reconciliation process, leaving staff to focus on more important activities such as following up late payments and servicing customers.

These services can also be centralised for use with Shared Services Centres or centralised treasury centres.

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Liquidity Management

J.P. Morgan offers a range of in-country physical cash concentration (sweeping), end of day cross-border sweeps, and notional pooling depending on the local legal, tax and regulatory environment.

Similarly J.P. Morgan supports a broad range of investment options for surplus funds including interest bearing accounts, terms deposits, commercial paper, and money market funds. These also tend to vary from country to country with more sophisticated financial centres supporting a broader range of options.

In some markets such as London, J.P. Morgan also provides an investment service called Cash Trade Execution which enables an organisation to outsource the day to day management of an agreed investment mandate with J.P. Morgan. Under this scenario, J.P. Morgan automatically concentrates and invests excess funds with an agreed list of external counterparties according to parameters set out in the client's investment mandate.

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U.S. Dollar Clearing

J.P. Morgan is the leading US dollar settlement bank for financial institutions and corporations globally, processing approximately 350,000 high value transactions daily valued at USD 3.2 trillion with peak settlement days exceeding these averages by 50% or more.

J.P. Morgan maintains the most extensive correspondent banking network in the industry, with over 4,500 relationships worldwide and is a key provider of payments solutions across most convertible currencies, including the provision of multi-currency accounts.

The distinctive nature of large value treasury payments requires a specialised mix of advanced technology and responsive relationship management. J.P. Morgan's integrated payment, funds control and reporting systems continuously update client positions on a real-time basis throughout the day to enable the proper control and management of key accounts. This enables J.P. Morgan to ensure the smooth and reliable processing of time critical, high value treasury-related payments.

J.P. Morgan also has extensive practical experience in the most effective methods for effecting U.S. dollar commercial and retail transactions. It has leveraged this experience to develop a market leading suite of commercial payment services that will help clients to:

  • Enhance their operational efficiency
  • Improve service to their own client base
  • Reduce payments charges

J.P. Morgan's same-day global payment capabilities, industry leading automated payment repair technology, extended processing windows and deep pools of liquidity ensure that beneficiaries receive their funds on time, with full and proper details, minimising the problematic and costly enquiries that in the past have tended to be a feature of this type of funds transfer activity.

J.P. Morgan's flexible beneficiary deduction options also enable banks to subtly apply a range of different charging options on U.S. dollar payments that reflect the sensitivity of their clients.

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Euro Clearing

J.P. Morgan is the second largest clearer by value of high value Euro payments and a leading player in the low value SEPA system.

J.P. Morgan Euro Clearing service covers the electronic transfer and settlement of European funds between the originator and the beneficiary of a Euro payment. Euro Clearing Services offer urgent, same-day settlement of funds to and from accounts denominated in Euro to allow clients to securely move money, electronically, to destinations around the world.

Euro Clearing supports an international client base, providing both a correspondent banking service to banks for their own business or that of their own corporate client base. It also provides payment and receipt services to corporate and financial services organisations. Clients can choose from a variety of payment options, including priority or urgency of payment as well as solutions to control charges levied by the receiver's bank.

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