Zero Balance Account | ABC Bank

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Important Reminder: All ABC Credit Card holders should have received a new card with a new account number.  If you have not received your new card, please contact us at 888-902-2552. To register and access your Credit Card Account online, select the Credit Card option in Personal or Business Banking and click on the blue box at the bottom of the section.

 

 
 
 
 
 

Zero Balance Account

How can a Zero Balance Account help your business?

A Zero Balance Account can help minimize idle funds and administrative expenses normally associated with monitoring multiple accounts. This service is useful for companies with multiple locations and branches that have a need to maintain separate accounts for record keeping or audit purposes but want to automatically concentrate these funds at the end of the day.

Benefits of a ZBA Account

  • Concentrate funds automatically at the end of the day
  • Automate manual transfers to fund accounts
  • View corporate liquidity as a single account; not multiple accounts
  • Maintain separate deposit and payment records
  • Avoid idle fund balances pending payment of checks
  • Gather funds from multiple locations or branches

Features of a ZBA Account

  • Target balance can be set at any amount, usually zero
  • Multiple secondary accounts can tied to a primary funding account
  • Detailed check and deposit records are available for each account
  • Multiple tier account arrangements are available

How to get started

To take full advantage of the concentration of funds into a primary account through ZBA, you may also want to use our Automated Sweep to insure that idle balances are always fully invested.

  • Establish a secondary account for your company’s stores, offices and locations that need the flexibility to make deposits and write checks
  • Assign each secondary account a target balance
  • Establish primary concentration account to pool funds
  • At the end of the day, funds are swept into or out of the primary account based on each secondary account’s target level.