Specifications include, but are not limited to: 2.1 General Account Services Financial Institution must agree to establish and to maintain such accounts(s) as are necessary to accommodate OHFA. Said account(s) are to be in the form of Demand Deposit Accounts (DDA). Financial Institution must provide secure access to accounts. Describe the process that ensures only authorized users have access to OHFA accounts and how the users are maintained. (i.e. Financial Institution’s personnel, OHFA administrator) 2.2 Automated Clearing House (ACH) Services General Requirements Financial Institution must provide the following information in relation to ACH services: a) Describe ACH process, including when funds post to account(s); Describe Financial Institution’s online ACH services; Describe ability for OHFA to build a database of repetitive ACH transactions; Security procedures in place to minimize risk of unauthorized ACH transactions; Services to protect OHFA accounts from unauthorized ACH debits; Ability to import ACH file; Cut-off time for OHFA to initiate ACH transactions; Automatic redeposit of items returned for insufficient or uncollected funds; and How ACH can be managed/administered internally by OHFA. Technical Requirements Record Formats – The Financial Institution must be able to initiate and receive the National Automated Clearing House Association (NACHA) Standard Entry Codes (SEC) formats. Online ACH System The Financial Institution must supply an online software application to facilitate the entry of ACH transactions with appropriate security for multiple agencies and users. 2.3 Wire Transfer Services General Requirements Financial Institution must provide the following information in relation to wire transfer services: Cut-off time for OHFA to initiate wire transfers to ensure same day execution; How wire transfers can be initiated by OHFA and verified by OHFA; How the Financial Institution will accommodate a repetitive wire set-up function; Describe Financial Institution’s procedures and time frames for correcting incoming and outgoing wire transfers, including prioritization and verification of such wire transfers; and Security procedures in place to minimize risk of unauthorized wire transfers. Federal Wires The Financial Institution must be able to initiate and receive federal wires. The Financial Institution must be able to accept and process an electronic file of wire transfers for settlement on same day basis. Notification of Wires The Financial Institution shall receive and immediately credit OHFA’s account(s) for incoming wire transfers. Include the ability to supply an electronic file or wire transfer activity report for same day and previous day activity. Online wire transfer system The Financial Institution must supply an online software application to facilitate the entry of wire transfers with appropriate security for multiple agencies and users. Include the ability to supply a downloadable, non-manipulative, exportable file of wire transfer activity for same day and previous day activity. 2.4 Remote Deposit Capture Services General Requirements Financial Institution must provide the following information in relation to remote deposit capture services: Remote deposit capture service options, including the model and descriptions of the remote deposit capture equipment offered or authorized for use; Cut-off time for OHFA to transmit deposits to ensure same day ledger credit; Any “per item” threshold; Any daily deposit limits; Any limit to the number of files or batches an Account Holder can submit on a daily basis; Any limit on the number of checks for each batch; The daily processing operation, including procedures for scanning items, finalizing the deposit, verifying deposit totals, clearing images/image cash letters, IRDs, conversions to ACH, use of MICR line, truncation, or any other means of clearing the checks; Ability to add to a “deposit” before it has been finalized or whether items in a deposit can be added or changed after the deposit has been completed; Ability to delete from a deposit once transmitted; How software upgrades handled for the remote deposit capture application; Ability to provide images of all deposited items. Discuss the format that will be made available and the duration. Describe the archiving and retrieval processes and options. Include any costs associated with long-term archiving within the Fee Proposal; How returned items are handled. How would OHFA be notified of such items. The availability of online images for returned items and timing of availability. The ability to offer automatic redeposit of returned items; and Ability to view and receive current- and previous-day deposit activity reporting. Technical Requirements Financial Institution must provide the following information for software and hardware requirements needed to operate the remote deposit application: The type of operating platform the software runs on (locally, off a network, or web-based); Dedicated computers needed for remote deposit including details on processor speed, memory, USB connections, and thin/zero client requirements; The remote deposit capture application’s ability to process money orders; The ability for the Financial Institution’s scanning equipment to magnetically read the characters of the MICR line and the accuracy rate of the MICR reading; The availability of CAR/LAR for the remote deposit capture application process to reduce the amount of necessary keying and the recognition rate; and Options for printing “endorsements” on the back of the physical item as it is scanned, or whether the same endorsement that appears on the image is presented to the payor.