A Citizens Zero Balance Account is a checking account that automatically transfers funds from your primary checking account to Purpose accounts to cover transactions your company makes throughout the day.

How do Zero Balance Accounts work?

There is one Primary account. This is the main account that holds all your funds.

There are Purpose accounts for individual expense items such as payroll. You can have as many Purpose accounts as you need. Each Purpose account is a separate account with its own account number and its own checks.

As checks are presented to the Purpose account, the required funds are automatically transferred from the Primary account to the Purpose account in the amount of the presented checks. This allows the Purpose accounts to maintain a “Zero Balance.”

ZERO BALANCE ACCOUNT BENEFITS

• Consolidates your company’s cash into one Primary account.
• Eliminates the excess balances from the separate accounts.
• Allows for greater control over disbursements.
• Simplifies account reconciliations.
• Allows for separation of duties.

FEATURES

• Transfers are automatically performed.
• Use Business Online Banking to review activity.
• Service fee of $10 per month for Purpose accounts and $20 per month for the Primary account.