Zero Balance Account

Improve Control for Disbursements & Cash Flow

As a business owner, you can eliminate idle balances by automatically moving money from your primary account into a disbursement, or zero balance account. What is a Zero Balance Account (ZBA)? When checks are presented against your disbursement (ZBA) account for payment, funds are automatically transferred from your Primary account to cover the items so they can be paid. Think of it as a buffer between you and the payee or “Just in Time” accounting. At the end of the business day, your Primary account will transfer only what is needed to cover the items presented that day for payment. Ultimately, your ZBA account will return to a zero balance. Also, payees only have information on an account that carries a zero balance and not on the accounts where your operating balances are maintained. This reduces your exposure to fraud on higher balance accounts. If you prefer not to use a check, Zero Balance Accounts can also be used for direct deposit funding. Any of these actions can take place on a daily basis.

ZBAs give you greater control over your monies and more accurate information about your cash position at any time. Managing business dollars using this account will save you valuable time for other business-related responsibilities while reducing opportunities for fraud or potential overdrafts.

Inquire about how to set up a Zero Balance Account for your business today.

Managing Money Made Easy

Now, you don’t have to keep track of which account you are going to use for certain business activities. A Zero Balance Account keeps monies manageable from one central account. Read further to learn why this type of account will work well for your business:

• Managing one account, enhanced with the benefits of our zero balance account product, makes monitoring and reconciling disbursements more efficient.
• Avoid accidental and costly overdraft charges with funds that are automatically transferred to your Zero Balance Account.
• Reduce opportunities for fraud by placing a “buffer” between check and ACH recipients and your primary account.
• Keep your money constantly working for you. Funds that might otherwise be left idle are now available for business use.

Call First Clover Leaf Bank at 618-656-6122 now to discuss how to create a Zero Balance Account for greater money management.