Shared Pool Account

A shared pool account means that all clients deposit their funds into the same IBAN/account number, with each client's unique reference number included in the transaction. All client funds are aggregated into a single Client Money Account, and the service provider is unable to track individual client balances. The main disadvantage of this model is that the account holder's name is the financial institution, not the client. As a result, clients do not receive named IBANs/account numbers.

Service Providers

Nium MassPay is the only service provider running on this model.

Account Model Diagram

• Transactions: All incoming/outgoing transfers and exchange transactions are processed through the Client Money Account.
• Internal Transfers: Since client funds are pooled together in the Client Money Account, internal transfers between different client accounts are not sent to the service provider. These transfers only update the IF ledgers of client accounts.
• Fund Collections such as fee and card transaction collections, are processed from the Client Money Account to a dedicated operational account for the specific purpose.
• Scalability: This model reduces complexity in managing funds for thousands of clients because the daily financial operations are less affected by the number of client accounts.
• For more details on how different transaction types are processed in this model, refer to Shared Pool Account - Flow of Funds.