Zero Balance Account. If an Account has a zero balance for 90 days or more, it will be closed. You can reinstate a zero-balance Account when you log in at XxxXXXX.xx.xxx.
Zero Balance Account. The Zero Balance Account Product uses a combination of a main account tied to one or more sub-accounts, which are used by authorized employees to write checks and make deposits. The sub-accounts on which checks are written and to which deposits are made, is maintained at zero dollars by transferring funds to or from the business entities’ Primary Operating Account during The Bank’s nightly accounting cycle.
Zero Balance Account. We shall establish one or more demand deposit accounts as Your Zero Balance Account(s), and a separate demand deposit account as Your Master Account. At the close of each banking day, We shall create a zero balance in each Zero Balance Account by depositing funds from or transferring funds to the Master Account. You agree to maintain in the Master Account and Zero Balance Accounts at all times and in collected, immediate-ly available funds, an aggregate amount sufficient to pay all charges to and checks or other items presented against each Zero Balance Account and Mas-ter Account. You authorize and direct Us, at any time and without prior notice to You, to transfer to each Zero Balance Account from the Master Account, or other deposit accounts of You, funds in the amount sufficient to pay any checks, items or charges presented against or payable from each Zero Balance Account. Upon prior written agreement with Us, You may add, remove, or change the designation of an account as a Zero Balance Account or We may affect any such changes without prior notice to You. All deposit slips and all check slips drawn on Zero Balance Accounts must be in a format approved by Us. You will provide a sample of checks or deposit slips to Us from each check printing for the purpose of testing MICR quality and Our approval. If at any time the Master Account, after deducting any amounts payable from or chargeable to the Master Account, fails to contain collected, immediately available funds in the amount re-quired to pay the total aggregate amount of checks, items and charges payable against or chargeable to the Master Account and each Zero Balance Account, You shall be liable for Our demand deposit checking account “insufficient funds” charges as is in effect from time to time and We may, in Our sole discretion, (i) pay in any order any one or all of such checks, items, or charges and charge the amount of any such payment to the applicable account thereby causing an overdraft to be created in such account subject to Our overdraft policies and charges; and/or (ii) dishonor in any order any one or all of such checks or items and return the same to the presenter thereof, in which case the policies, charges, and rules provided for in Our deposit agreement shall apply, including provisions relating to insufficient funds and return policies or charges.
Zero Balance Account. This Service Agreement as part of the Master Treasury Services Agreement sets forth additional terms and conditions under which the Customer authorizes the Bank to automatically transfer available funds between a funding Account (the “Master Account”) and other Account(s) (each a “Zero Balance Account” and, collectively, the “Zero Balance Accounts”) to cover debits presented against the Zero Balance Accounts (“Service”).
Zero Balance Account. “Zero-Balance Account” means a zero-balance checking account maintained by Member at the Bank and designated as a Zero-Balance Account.
