Specifications include, but are not limited to: The Delaware State Treasury (Treasury) seeks professional services to obtain a qualified commercial bank to provide statewide Over-the-Counter (OTC) collections banking services. Agencies making Over-the-Counter (OTC) deposits will be required to use the OTC collections bank. The services described in this section are not related in any way to the States electronic collections, investments or lockbox operations. Deposit Items. The bank shall: a. Process all submitted items and make multiple daily deposits. b. Provide same day ledger credit for items deposited during normal banking hours at all locations. c. Provide next day ledger credit for items deposited after normal banking hours. Checks paid. The bank shall: a. Provide check payment and processing for checks through the normal demand deposit account (DDA) banking system. b. Establish the States General Collection Account (and other collection account(s) as specified by the State Treasurer) as Preferred Status account(s). That is, honor all overdrafts (if any) without penalty to the State.
