Zero Balance Account
A Zero Balance Account (ZBA) is a checking account that is designed to maintain a zero balance, even as checks are written against it. The ZBA is funded by a primary account that generally receives all deposits and disburses funds to the ZBA only when necessary to cover checks that have been presented for payment. More than one ZBA can be linked to a centralized primary account.
How Does a ZBA Work:
Each day, debits accumulate in the ZBA as checks clear against it. At the close of the business day, funds from the primary checking account are swept to the ZBA, bringing its balance back to zero. This sweep function eliminates any possibility of overdrafts as long as the primary account is properly funded.
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