Zero Balance Account

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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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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.
Pricing information is available for services related to commercial checking accounts, cash services, zero balance accounts, automated clearing house (ACH), account reconciliation, controlled disbursement accounts, sweep accounts, information reporting, imaging services and wholesale lockbox.
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.
BB&T's treasury management services, designed to manage corporate cash and information flow, include lockbox and electronic concentration services as well as disbursement management products, such as automated wire transfers and zero balance accounts.
be any deposits made to the Zero Balance Accounts, except for transfers from the
P K Malhotra, State Bank of India operations deputy managing director said that the zero balance accounts has raised the bank's operational expenses, even though it has failed to boost the current and savings account ratio.
to perform a review and recovery of the hospital's zero balance accounts.
Zero balance accounts could be enjoyed by the people in the villages in the ultra-small branch, in accordance with the RBI s directives, and the transactions would be conducted through the branch, he said.