Zero-balance account

Zero-balance account (ZBA)

A checking account in which zero balance is maintained by transfers of funds from a master account in an amount only large enough to cover checks presented.

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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BSBDA is also referred as zero-balance account but banks may offer the zero-balance flexibility to other types of savings account variants.
Along with a free, zero-balance account, Jan Dhan account holders also get an accident insurance cover of Rs100,000, with an overdraft feature of Rs5,000.
When connected to a zero-balance account, this service will "sweep" any available funds from an operating account to either an investment account or from a working capital account, depending on whether the operating account has a surplus or a deficit.
The proportion of zero-balance accounts declined from 32% to 24% over 2016, i.
The zero-balance accounts have a deposit limit of INR50,000.
They organised massive camps where every Ram, Peter and Mohammed was brought into the banking system with zero-balance accounts.
While talking about schemes benefitting the poor, he referred to Jan Dhan and said bankers, who earlier used to be reluctant to open accounts of the people from lower economic strata, are now going house-to-house to open zero-balance accounts.
8 percent of zero-balance accounts in 2012, which means over half of those with a zero balance in 2012 had a zero balance in 2007.
Now all of the Bank's Current, Savings, Savings Plus and Call Account holders enjoy zero-balance accounts that provide them with the same benefits as before.
Managing Your Funds In Mexico: It can also come as a surprise to some Canadian companies that most Mexican banks do not offer automatic zero-balance accounts.
This case assumes that, although the demand to hold central bank base money overnight or longer may dry up, the demand to use zero-balance accounts at the central bank in the settlement process would remain.
Cash management services encompass the provision of sweep accounts, zero-balance accounts, lockbox services, and other services designed to automatically invest liquid funds in liquid, interest-bearing assets.