A FirstMerit Zero Balance Account enables you to consolidate the company's cash into one primary account from various other accounts (i.e. payroll, depository and expenses, etc.)
Funds are automatically transferred to or from the primary account as checks or deposits are processed, thus, maintaining a zero balance in the other accounts.
Benefits:
Consolidate cash into one primary account
Transfers are conducted automatically
Account reconciliation is simplified
Separation of Duties
When used with a sweep account, you can maximize your company's capital.
