Zero Balance Accounts
Pegasus Bank offers Zero Balance Accounts as a solution to provide greater control over payments and collections for businesses with multiple entities or locations.
How it works.
Each subsidiary or location receives its own bank account. Deposits are made to the separate accounts, allowing the business owner to clearly see deposits and transactions associated with each account. At the end of each business day, excess funds are swept from the linked subsidiary account to the master account. If the subsidiary account needs funds from the master account to cover a deficit, an automatic transfer will occur bringing the balance back to zero.
Clients may link an unlimited number of subsidiary accounts to a master account.