concentration account

concentration account definition - business

concentration account

A central bank account into which funds are transferred from regional accounts. A concentration account allows a business to gain quicker access to funds received from customer payments in different locations.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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