Virtual pooling allows customers to combine account balances of pool participants (various legal entities, a holding structure or a company with a branch network) to accrue interests on balances without physical cash flow. The total interest rate depends on the total balance of accounts and is valid for all participants to the pool.

The financial assets which comprise the pool remain on current accounts and are available to customers during the operating day.

“Customers are offered competitive rates with actually no actions needed on their part - everything takes place automatically under agreed conditions. In accrual of interests on the balances within the virtual pool, all amounts are accounted for that are credited to participating accounts up to the end of the day. Every participant of the pool receives interests accrued at a uniform rate which depends on the total balance on all participating accounts. Additionally, customers are provided with detailed information on all settlements, facilitating internal accounting for accrued interests. These factors distinguish virtual pooling from typical deposits”, commented Philipp Litvinenko, Head of Transactional Banking and Deposits Department at Credit Bank of Moscow.

The interest rate is defined depending on the total balance amount, while the frequency of payments varying from daily to annual transfers is selected by customer. Interest rates can be fixed or variable, depending on the current value of MosPrimeON, an indicative rate for ruble loans (deposits) for the overnight period.