Management Information and Control Services
Mirror Account Service
Mirror Account Service is a concentration service that enables you to pool your funds from accounts maintained by your various subsidiaries, divisions or related entities while maintaining operating account autonomy among the participants. By consolidating funds, you are able to earn higher interest returns or minimize the use of operating bank credit lines through inter-entity lending, while maintaining autonomy in day-to-day banking activities.
What Mirror Account Service Offers You
- Accommodates five tiers of corporate structure and is fully automated
- Allows you to maintain accounts in U.S. or Canadian Dollars at any TD Canada Trust branch in Canada (separate hierarchies are required for each currency)
- Permits inter-entity lending/borrowing to minimize the use of operating bank credit lines
- The Interest Allocation Service
enables you to track transfers and interest owed or earned by the participating entities
The Benefits of Mirror Account Service
- Minimizes workload as funds are automatically consolidated into a single concentration account
- Appreciate higher interest earnings potential on deposit balances
- Reduces your borrowing costs by substituting inter-entity lending for bank financing
- Monitors subsidiaries’ activity without affecting their autonomy
- Simplifies operations as only one operating line of credit is required at the concentration account level
For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.