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Zero Balance Account


Open a Zero Balance Account and consolidate all of your company’s funds into one centralized account.



Shop Columbia street bannerMany businesses have a general operating checking account, as well as separate accounts for payroll, petty cash and other purposes. We know trying to keep track of all of these accounts takes valuable time away from your business. A Zero Balance Account helps you alleviate having money in too many different locations, allowing you to earn the maximum interest on your money, easing your workload and eliminating mistakes.

  • Maximizes funds available, as excess funds in the central operating account can be invested to increase returns and maintain liquidity.
  • Eases the payment of outstanding loan balances, as they can all be paid from one centralized account.
  • Minimizes the risk of overdraft fees.
  • Saves you valuable time and money, as everything is electronic and seamless, thus allowing employees to focus on other business matters.
  • Makes tracking of transfers and reconciling statements easy by cross-referencing account numbers on bank statements.

How It Works

A Zero Balance Account is a checking account which always maintains a balance of zero. All of your business funds are deposited into one central operating account. Any additional business accounts you may have, such as payroll, petty cash or others will each be a Zero Balance Account and will always maintain a balance of zero in each account.

  • On a daily basis, the total amount for all checks presented against each Zero Balance Account is offset by a debit to the central operating account.
  • To ensure accuracy, each transfer from the central operating account to any of the Zero Balance Account is cross-referenced by the account number on the bank statement.
  • Deposits which are accidentally made to any of your zero balance accounts will be automatically transferred to the central operating account.

To sign up for a Zero Balance Account, contact your local SCBT business banker.

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