ZBA. A checking account which always maintains a balance of zero. Whenever the corporation needs to write a check, they transfer money into the account for the exact sum for which the check will be written, so that once the check is cashed there will once again be a balance of zero in the account. This helps the corporation avoid having money in too many different places.
Related information about Zero Balance Account:
- Zero Balance Account (ZBA) Definition | Investopedia
A checking account in which a balance of zero is maintained by automatically transferring funds from a master account in an amount only large enough to cover ...
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- Zero-Balance Account - Financial Dictionary - The Free Dictionary
A checking account in which zero balance is maintained by transfers of funds from a master account in an amount only large enough to cover checks presented.