Concentrate funds into one location while maintaining separate accounts for payroll, operations, and accounting purposes.
Details
WHAT ARE ZERO BALANCE ACCOUNTS?
Zero Balance Accounts are not a consumer product, they are strictly a business product. ZBAs are a type of account in which a balance of zero is maintained by transferring funds to and from a master account. The purpose of Zero Balance Accounts is to promote risk mitigation, as they are typically heavily automated, limiting clerical and operational errors.
WHAT CAN I DO WITH ZERO BALANCE ACCOUNTS?
- Eliminate the need for manual transfers between bank accounts
- Maintain required funds for disbursements while eliminating idle balances
- Multiple account balances can be concentrated into one centralized account
DETAILS
- Enjoy the convenience of having separate statements for each account while the balances are consolidated for more efficient cash management*
- Perfect for companies with multiple divisions, stores, or operating units
- Multiple account balances are concentrated into one, centralized account
- Funds are disbursed to individual ZBA accounts only when necessary to cover checks or debits
- Eliminate the need for manual transfers between bank accounts
- Maintain required funds for disbursements while eliminating idle balances
*Service is subject to bank approval
Contact First Lonestar Bank to get started!
Call a Relationship Manager at 469-389-3660 or visit us at our branch in Frisco, Texas, today!
