A. General Requirements The College prefers that the financial institution have a local branch network in order to meet the organization’s cash management needs and to serve its employees and students. B. Deposit Services Currency and coin deposits will be delivered to the financial institution by a College employee. Annual in-bank deposits are approximately $2.5 million. Required services include • Process foreign and domestic wires received and sent by the College, • Image deposited items, • Provide online access for deposit and account reconciliation including images of deposited items. C. Disbursement Services The College currently disburses 500 checks per month. Positive pay services are not available for its current disbursement account.
