CpD account

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The term CpD account (Conto-pro-Diverse) (much less often also “hinge account ”) describes a combined accounts receivable and payable account in the general ledger. One-time processes are collected in it.

This is a collective account on which payments from and to business partners are posted for whom no separate debtor (customer) or creditor (supplier) account is maintained, or in cases of doubt in which the specific account is initially unknown is.

Banks

At banks , unclear postings are posted to CpDs. This applies above all to incoming payments whose recipient is not clearly identified.

If the transferring party provides incorrect recipient data (e.g. a nonexistent account number), the receipt cannot be credited to the recipient's account. In the payment transaction departments of the banks, these amounts are therefore first posted to CpD and an attempt is made to determine the recipient.

Usually, amounts are returned to the sender after a certain period of time (e.g. a week) if the recipient cannot be identified.

CpD and money laundering

Due to the Money Laundering Act, banks are obliged to check the origin of funds. Until the Money Laundering Act came into force, it was often common for a CpD to be used as a clearing account for securities accounts. In this way, it was not possible to allocate income from securities to the beneficial owner . Today it is neither allowed to use a CpD as a clearing account for securities transactions nor as an entry account for payments in order to prevent money laundering and tax evasion .