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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Global Banking News-August 9, 2017--Kotak Bank offers debit card at INR99 for zero balance accounts
According to him, the same day the representative informed him that the bank policy had changed and that the account could no longer be opened as a zero balance account.
institution will operate a Zero Balance Account, to which funds are automatically
Tenders are invited for Managed Care Payment Audits of Zero Balance Accounts
New Delhi [India], Feb 7 ( ANI ): Paytm Payments Bank, a digital bank which provides zero balance accounts and zero charges on digital transactions, partnered with the Mumbai Dabbawala Association, the pioneers of home-cooked food delivery.
The number of zero balance accounts that continue to exist with most banks is glowing evidence to this persistent issue.
MUMBAI -- People belonging to weaker sections in the country can also open zero balance accounts in foreign banks such as HSBC, Citibank and Standard Chartered Bank and avail free ATM-cum-debit card facility.
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.
Summary: New Delhi [India], Dec 5 (ANI): India's largest digital bank Paytm Payments Bank is the only bank providing zero balance accounts and zero charges on digital transactions.