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Zero Balance Account Need more checks and balances in your bookkeeping process? Looking for ways to minimize idle cash balances? A Zero Balance Account (ZBA) might be a good solution for your business. This service is commonly set up to fund a separate payroll account and eliminates the need to manually transfer funds from one account to another. Establishing a systematic link between two commercial checking accounts creates a ZBA. The ZBA is a sub level account that is linked to a master funding account. The ZBA maintains a balance of zero. Each day, an automatic transfer from the master account funds the total amount of the checks that are presented for payment against the ZBA. Since the ZBA is a separate account, a bank statement is generated that lists the account's checks paid and other transactions. The funding link between the sub and the master account also works in reverse. If deposits are made in the ZBA, the funds will be automatically transferred to the master account. Need More Information? For more information on zero balance accounts, please send us a request through the Middle Tennessee (615) 743-6200 |
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