Disbursement Services

Cash Managment - Collection Services - Information Services - Control Services

Zero Balance Account

Zero Balance Accounts (ZBAs) are designed to help you eliminate manual transfers of funds between accounts, reduce idle cash and prevent overdrafts. At the end of each business day, Fidelity Bank automatically transfers funds from your master account into another account(s) in the exact amount(s) needed to cover your disbursements. ZBAs simplify funds transfer activity and help you maintain account autonomy. They are especially useful for funding multiple disbursement accounts on an “as needed” basis. ZBAs allow you to consolidate all of your company’s bank balances and create one pool of funds from which to determine your daily cash position and optimize investments.

Features & Benefits
• Prevents overdrafts and related costs.
• Eliminates idle balances in disbursement accounts to increase investment income and reduce borrowing costs.
• Reduces administrative time and costs by creating one consolidated account for monitoring and cash position determination purposes.
• Eliminates the need to initiate transfers.
• Allows customers to maintain separate bank accounts for internal auditing purposes.

Automated Clearing House

The Automated Clearing House (ACH) system is a nationwide electronic payment and collection network that allows transactions to be posted to accounts at virtually all U.S. financial institutions. The ACH system enables you to originate three primary types of transactions when you transmit data:

1. Employee/Consumer Direct Deposit:
• For issuing payroll, expense reimbursement, dividends, interest, annuities, etc.
• Electronically credits recipients checking or savings account.

Features and Benefits
• Reduces costs of payroll administration and distribution time.
• Eliminates check purchases and processing time.
• Provides complete audit trail for payments.

2. Consumer/Preauthorized Payments:
• Electronic collection of receivables such as insurance premiums, utility bills, mortgage and rental payments, etc.

Features and Benefits
• Accelerates funds availability.
• Accommodates variable and fixed rate payments.
• Helps reduce bad check expense.

3. Corporate Cash Concentration:
• Electronic transfer of funds from a non-Fidelity Bank account to a Fidelity Bank account. Used by companies to gather cash from outlying deposit accounts into a central concentration account.

Features and Benefits
• Less expensive alternative to depository transfer checks or wire transfers.
• Eliminates idle finds in outlying accounts.
• Keeps track of funds from multiple locations.

Mutual Disbursement

Allows one central account for a business’s check writing while having certain information broken down for multiple locations, divisions, profit centers, etc. on serial encoded checks.

Contact info:

Contact your business relationship banker or your local branch for more information.