Zero Balance Account


Also found in: Acronyms.

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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Germany-based Deutsche Bank (NYSE: DB) has announced a plan to launch a zero balance account for professionals in India.
A bank represenative approached me around March 2010 with a proposal to open a zero balance account.
Concentration Account and credited to the Zero Balance Account.
for the performance of zero balance account, managed care audits.
Zero Balance Account Service, Paid Check Image Services, Reconcilement Services, Positive Pay
Associated With This Account Are Currently 24 Zero Balance Accounts Dedicated To The Clearing Of Warrants And Checks For County Departments And Junior Districts.
The number of zero balance accounts that continue to exist with most banks is glowing evidence to this persistent issue.
More than 2,000 zero balance accounts of local people were opened at the branch and a fake website with its server in the USA was also created to dupe the investors," the local district superintendent of police Upendra Kumar Sinha told the media yesterday.
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.
We used zero balance accounts, or ZBAs, to control the cash movements centrally.
When you eliminate identified zero balance accounts that average rises to $2,283, a 7% year over year increase.