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A zero balance account is 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 checks presented.
A zBA is used by corporation to eliminate excess balance in separate account and maintain greater control over disbursement.
a checking account in which zero balenced is maintained by transfers of fund from master amount in the amount of large.
* A checking account will always maintains a balance of zero.
* Whenever a corporation needs to write a cheque, they transfer money into account for the exact sum for which the cheque will be written.
* Once the cheque is cashed there will once again be the balance of zero in the account.
* This helps the corporation avoid having money in too many different places.
ZBAs help companies avoid having money spread out over several different bank accounts, which costs the company interest and creates more bookkeeping work.
Zero balance account is maintained when a company handles endorsements with a large amount.
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