Zero Balance Accounts
Who is it for?
Zero Balance Accounts are ideal for business with multiple accounts looking to maximize idle funds and maintain greater control over disbursements.
How does it work?
A Zero Balance Account (ZBA) arrangement automatically transfers funds to and from your central concentration account to bring your secondary accounts to a zero balance at the end of each business day. A ZBA allows your company to segregate and monitor deposit and disbursement activity for multiple business accounts, such as payroll, credit card activity, etc.
What are the benefits/features?
- Increased cash flow: You can consolidate your idle cash and maximize investment opportunities.
- Time savings: Avoid making manual transfers to fund accounts
- Reduced banking relationships: You can eliminate need for working balances in multiple accounts with multiple financial institutions.
- Financial control: You can monitor your total cash position more accurately.
Discover why Middlesex is the best bank for business.
To learn more about all the benefits of our Cash Management services and banking at Middlesex, contact Betsy Raymond, Cash Management Officer at 508-315-5463 or email her at Betsy.Raymond@Middlesexbank.com.
