Frequently Asked Questions
- Does Zero Balance Account service move ledger or collected balances?
Zero Balance Account service will transfer ledger balances. Uncollected balances are inherited by the receiving account on a same-day basis.
- Can I use Zero Balance Accounts to automate transfers and leave some funds in the sub-account (e.g. not sweep to $0)?
Yes, you may use Zero Balance Accounts to automate transfers by selecting a target balance in the sub-account. Zero Balance Account service will similarly push and pull funds to and from the main account in the amount needed to restore the target balance in the sub-account daily.
- How many Zero Balance Account sub-accounts can be setup under a Zero Balance Account’s main account?
Structures can be created with a maximum of 250 sub-accounts linked to one main account. Three tiers of sub-accounts are possible; meaning the maximum number of sub-accounts in one structure is 750 sub-accounts.
- Can I transact both debits and credits in my Zero Balance Account sub-account?
Yes, you can transact both debits and credit to your Zero Balance Account sub-account. The default is to allow debits. You may request that debits be blocked by speaking with your Payments Advisor
- If the balance in the Zero Balance Account sub-account is $0, will incoming debits reject for insufficient funds?
No, if the balance of your Zero Balance Account sub-account is $0 incoming debits will not be rejected. When determining funds availability, KeyBank’s system considers all the accounts in the Zero Balance Account structure, plus any available credit if a Credit Sweep is in use. Posting/rejection is then controlled by setting on the Zero Balance Account Main account at the top of the structure.
- When during the day do Zero Balance Account transfers occur?
Zero Balance Account transfers occur after all other transactions have posted, with the exception of Credit Sweeps and Investment Sweeps.
- What reporting is available for the Zero Balance account service?
In addition to being able to view transfers to and from your accounts on the KeyNavigator Previous Day Report, two daily reports specifically designed for Zero Balance Account service are available.
- The Zero Balance Account Report provides for each sub-account a summary of the subtotals of checks, deposits, other credits and debits, as well as the resulting automated transfer to and from the Zero Balance Account main account. Grand totals and the final ledger balance are also provided.
- The Zero Balance Account Notional Balances report contains some of the above plus a notional balance for each sub-account – what it would be without the Zero Balance Account service.