A Zero Balance Account (ZBA—sometimes called a sweep transfer account) is a business checking account dedicated to funding a specific expense, such as payroll, petty cash, travel reimbursement, or any other business need.
Your ZBA is linked to your company’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 always has a zero balance (which is where the term “zero balance account” comes from).
You can use a ZBA to 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 funds manually.
Is a Zero Balance Account Right for My Business?
Learn how Zero Balance Accounts can benefit your business’s daily banking operations by contacting our Treasury Services team.
