Zero Balance Account
Concentrate funds through a master account while maintaining a zero balance in your checking account.
Broadway Bank’s Zero Balance Account (ZBA) allows you to maintain normal checking account functions while maintaining a zero balance. Checks, wires, ACHs – activity posts as usual – are settled, and the account is automatically cash-positioned at the close of business each day. Funds are disbursed from a primary account to cover any obligations and bring the balance to zero. Alternatively, excess funds are transferred to the primary account to net out a zero balance at the end of the day and concentrate funds.
Benefits of a ZBA
- Spend less time managing your accounts, predicting daily cash needs and manually transferring funds.
- Optimize cash flow with automatic transfers, reducing the potential for overdrafts and concentrate funds to maximize earnings or pay down debt.
- Effectively manage the need for multiple accounts while retaining control.
How Does a ZBA Work?
- A master funding account is defined along with any number of sub or zero balance accounts.
- At the close of each business day, the sub-accounts are automatically cash positioned and corresponding credit posts from the master account to cover any shortfall. At the same time, excess funds are transferred into the master account to achieve the zero balance.
Easy Solutions
With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.
Local Decision Making
As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.
Experienced Partner
Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.
