Zero Balance Accounts are funded by another account automatically and consistently maintain a “zero” or a preset balance. You can pool cash into a central master account while simultaneously isolating the cash inflows and outflows of your operating subsidiaries and divisions. The object of a zero balance account is to centralize balances that would otherwise remain idle in operational accounts. Balances are automatically maintained at a preset amount by an internal transfer of funds to or from a master account at the close of each business day.
Benefits:
- Reduces manual internal transfers
- Reduces idle cash in various accounts
- Provides a clear audit trail
- Provides a central pool of funds to improve investment opportunities
For more information, call (918) 748-4185.