What is a Zero Balance Account?

The zero balance account refers to an account opened by a financial department or a financial department for a budget unit in a commercial bank for the settlement and settlement of budget funds. The day-end balance is settled after clearing with the single account of the treasury established by the central bank.

Zero balance account

Right!

Zero balance account means the financial sector or

Zero balance account refers to the financial department or financial department for budget units in commercial banks to handle the settlement and settlement of budget funds

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Provincial first-level budget units and administrative institutions without competent departments must fill in the "Bank Account Examination Form" and report to the Provincial Department of Finance (basic budget units fill in the "Bank Account Examination Form" and report to the competent department, and the competent department must also complete the "Financial Authorized Payment Bank Account Opening Summary Application Form ", together with the" Basic Account Examination Form "of the grass-roots budget unit, submitted to the Provincial Department of Finance); the" Bank Account Examination Form "is submitted to the People's Bank of China after being approved by the Provincial Department of Finance, and the People's Bank of China issues and issues it "Account Opening Permit", the budget unit holds the "Account Opening Permit", and in the branch of the agency bank determined by the Provincial Department of Finance, independently selects the account opening bank of the budget unit's zero balance account to handle the account opening and seal reservation of the zero balance account formalities.