Zero Balance Account Service Sample Clauses

Zero Balance Account Service. Our Zero Balance Account ("ZBA") Service enables you to consolidate your funds automatically each Business Day from designated deposit accounts ("Zero Balance Accounts" and/or "Subsidiary Accounts") into a designated master deposit account ("Concentration Account"). When checks (each individually, an "Item" and collectively, the "Items") drawn on a ZBA are presented for payment, funds are automatically transferred from the Concentration Account to cover exactly the total amount of the presentment. Deposits made to ZBAs are also automatically transferred to the Concentration Account. You will maintain deposit accounts consisting of a Concentration Account and one or more Subsidiary Accounts. Each Business Day, we will transfer funds from the Concentration Account to each Subsidiary Account or from each Subsidiary Account to the Concentration Account, as appropriate, so that the ledger balance in each Subsidiary Account at the close of the Business Day is zero or a predetermined target amount. If there are not sufficient funds in the Concentration Account to cover a predetermined target amount on a Subsidiary Account, transfers will only be made up to the amount of the funds available in the Concentration Account. You authorize us to execute the funds transfers to or from the designated Subsidiary Account(s) and Concentration Account(s). We will keep the Subsidiary Accounts open despite the zero balance. We shall not be required to make any transfer from the Concentration Account in excess of the funds therein, and in the event there are not sufficient collected funds in the Concentration Account to make all of the transfers required, we may allocate the funds among your designated Subsidiary Accounts in our sole and absolute discretion. You shall maintain sufficient available balances in the Concentration Account to cover the amounts transferred by us. If the amount of funds available for transfer from the Concentration Account or the amount of funds available above the predetermined target amount in the Concentration Account is not sufficient to pay all Items presented for payment on any given Business Day, we may return the Items for insufficient funds. You acknowledge that deposits to the Concentration Account(s) and/or Subsidiary Account(s) may not be made available to you until the funds in the deposit are collected, whether or not such funds are transferred to another deposit account as part of the Service. We determine when funds deposited are made a...
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Zero Balance Account Service. 56 .Appendix .Funds Transfer Agreement........................................................................................................................................58 Version 1.11 City of Miami Beach(ivg 1.4.13 v.2) Page 1 of 61 IdIG TREASURY MANAGEMENT xx XXX RUST TERMS AND CONDITIONS General Terms and Conditions for All Services 1. Introduction.. SunTrust Bank offers a full range of treasury (g) .Implementation/Setup Forms.. An implementation/setup management services to our clients. Throughout these terms and form is an internal document that we use to record additional information conditions, (a)SunTrust Bank is referred to as"we,""us"or"our,"(b)the and/or instructions you give us with respect to a particular service. treasury management services described in these terms and conditions are referred to as the"services,"(c)these terms and conditions and the (h)
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Zero Balance Account Service. Zero Balance Account (“ZBA”) service allows Customers to concentrate balances across multiple checking accounts consisting of a lead (“Master Account”) and one or more sub-accounts funded by the Master Account. Two-way automatic transfers ensure that the sub-accounts maintain a zero balance or a balance otherwise designated by Customer. One-way transfers can also be made from the Master Account to the sub-account, from the sub-account to the Master Account or from the Master Account to the subaccount with deposits allowed in the sub-account. Deposits to accounts designated for transfers from the Master Account to the sub-account with deposits will not transfer to the Master Account and shall remain in the sub-account until a subsequent disbursement is made. Bank reserves the right to terminate ZBA services without prior notice to Customer. In addition to the limitations on the Bank’s liability established elsewhere in this Agreement, the following limits shall apply to the ZBA Services:
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Related to Zero Balance Account Service

  • Account Security User agrees and acknowledges that to the extent applicable, it will: (i) maintain strict confidentiality of all names, passwords, or other credentials of User’s Authorized End Users; (ii) instructing its Authorized End Users not to allow others to obtain or use their credentials or to access the Software. User is responsible for any costs or damages incurred due to unauthorized use or access through User’s Authorized End Users’ account credentials or systems.

  • Accessing the Website and Account Security We reserve the right to withdraw or amend this Website and any service or material we provide on the Website in our sole discretion without notice. We will not be liable if for any reason all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, or the entire Website, to users, including registered users. To access the Website or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the Website and any resources downloaded from the Website that all the information you provide on the Website is correct, current, and complete. You agree that all information you provide to register with this Website or otherwise, including but not limited to through the use of any interactive features on the Website, is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy. If you choose, or are provided with, a user name, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Website or portions of it using your user name, password or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information. We have the right to disable any user name, password or other identifier, whether chosen by you or provided by us, at any time in our sole discretion for any or no reason, including if, in our opinion, you have violated any provision of these Terms of Use.

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