A Zero Balance Account (ZBA—sometimescalleda sweep transfer account) is a business checking account dedicated to funding a specific expense, such as payroll, petty cash, travel reimbursem*nt,or any other business need.
YourZBAislinked toyourcompany’s main operating account,which disburses funds to the ZBA for the exact amount needed to cover that day’s transactions. At the close of each business day, after paying all obligations, the ZBA alwayshasa zero balance(which is where the term “zero balance account” comes from).
You can use a ZBAto concentrate deposits made to multiple accounts into a single operating account.The transfers between accounts are automated, relieving your staff of the need to reposition fundsmanually.
Is a Zero Balance Account Right for My Business?
Learn how Zero Balance Accounts can benefityour business’sdaily banking operations by contacting our Treasury Services team.
