Zero Balance Account Sweep
Make Investment and funding decisions simpler.
What is a Zero Balance Account?
North Shore Bank's Zero Balance Account (ZBA) automatically funds check disbursement accounts and transfers funds deposited from multiple accounts into your main operating or concentration account.
How Does It Work?
A Zero Balance Account (ZBA) ensures that funds do not stand idle in multiple accounts. Yet they maintain the integrity of multiple accounts by eliminating the need to manually initiate internal account transfers. You can use a Zero Balance Account (ZBA) for collections, disbursements or BOTH.
How your Company benefits.
- Eliminate idle funds in your checking account.
- Better manage liquidity and overall operating cash.
- Investment and funding decisions are made simpler; all funds are concentrated into one main account.
- Automated transfers save time and money.
- Track cash flows easily with detailed accounting reports.
- Zero Balance Account (ZBA) account activity can be grouped into one account analysis statement.
Additional benefits:
- Keep your companyís cash working for you with our Line of Sweep services.
- Make cash management even easier by paying bills and collecting funds electronically with ACH Origination.
- North Shore Bank offers Paycheck Plus™ Payroll Card that allows employers to pay employees with direct deposit, even if they do not have a bank account.
- Enjoy all the advantages of a North Shore Bank's Business Credit Card. Apply online or call 1-800-892-3263 any day between 7:00am and 11:00pm CST and reference priority code FRL9.
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Member FDIC | © 2009 North Shore Bank | Phone: 877.672.2265