The requirements include the establishment and maintenance of State accounts for disbursement services, and the accurate and timely processing of all statewide banking services related to the accounts including, but not limited to; controlled disbursement, payee positive pay, zero balance sweep accounts, banking API integration, earnings income credit rate, bank reconciliation for all disbursement accounts including Automated Return of Payment (ARP), Account Validation services (AVS), ACH debit blocks, ACH fraud controls, ACH Pre-note processing, ACH origination capabilities, access to the bank’s Web-based Portal System to complete transaction inquiries and research (i.e. account detail/summary look ups, pre-note failures, paid check images, outstanding checks and transaction detail information) and the ability to process transactions (i.e. check stops and wires) along with a variety of electronic reporting and communication needs.
