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ZBAs - Zero Balance Accounts are separate checking accounts that are tied to a general operating account.
Most common use is with payroll accounts
Eliminates the need to fund the account through deposits
Funds are automatically pulled from the general operating account as checks are
presented for payment on the ZBA
Retains its own account number with monthly itemized statements
Monthly Maintenance Fees
$25.00 monthly fee
- The lockbox agreement authorizes the Bank to establish a P.O. Box in the
Company's name and then retrieve the mail and process the deposit
Monthly Maintenance Fees
$100.00 monthly fee
$.20 per item handling fee ($75.00 minimum)
$ .10 per line of data (if entered on a spreadsheet)
$ 1.50 per faxed page
- A tri-party agency agreement, which moves funds to and from an interest
bearing investment account set up in the Company's name with the Investment
Is tied to the Company's general operating account
A minimum collected balance is established as the threshold at which excess
funds are swept to the account at the Investment Agent, or shortfalls are swept
back to the account with the Bank
Receive a monthly earnings credit for the average daily collected balance
maintained in the Bank account (less the 10% reserve requirement), which is
used to offset monthly charges. The earnings credit is based on a 13-week
average of the 91 day Treasury Bill Rate.
Earn a market rate of interest on swept funds (less Investment Agents fee).
Funds are typically invested in Dreyfus Treasury Prime Cash Management Fund, an
institutional mutual fund.
Swept funds are held under fiduciary responsibility and are not subject to bank
The monthly Bank fee is charged against the Bank Account and is eligible for
offset by the earnings credit
Trust Sweep Fees
$100.00 monthly Bank fee
½ of 1% or 50 basis points annual Investment Agent fee payable monthly against the fund
Cash Management -
A complete easy to use PC based software system that allows businesses and high
net worth individuals to perform many banking functions from their own PC.
Easy access to balance and transaction reporting
Includes account reconciliation features
Transfer funds between depository accounts
$25.00 monthly fee, $7.00 per ACH File originated.
61st Street Location - 10615 E. 61st Street Tulsa, Oklahoma 74133
Yale Location - 4812 E. 81st Street Tulsa, Oklahoma 74137
Utica Location - 2020 East 21st Street Tulsa, Oklahoma 74114
Bixby Location - 13112 South Memorial Bixby, Oklahoma 74008 http://www.vnbtulsa.com