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Zero Balance Account

   Also found in: Acronyms 0.01 sec.
Zero Balance Account
An account that maintains no funds in it because the account holder transfers only enough funds into it to cover checks written on it. A zero balance account exists so companies can prevent excessive balances on accounts and more effectively control how they distribute funds.


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You need to transfer or change it to zero balance accounts to avoid higher rates of interest.
Current problems relate to special situations such as double billing and erroneous billing by computer conversion input personnel and the inability by computer personnel to promptly correct debit errors and computer generated erroneous interest charges by input credits to the computer system to zero balance accounts.
All three Professionals Preference Program segments feature lending products with quick, local decision-making; cash management services including online access, wire transfers, Zero Balance Accounts, and lockbox services; other specialized services such as merchant card and payroll services; a complete portfolio of business and personal insurance products, and access to investment services and wealth management.
 
 
 
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