3. Automated Cash Management Information Access The City requires web-based, automated cash management services and prior day balance reporting for timely access to balance information and transactions. It requires a high degree of automation within the various service areas such as ACH and reconciliation. Imaging of all checks and image retention is required. Imaging of deposit slips and deposit items is preferred. Preferably statements and account analyses will be available in electronic form. Minimum on-line services should include balance reporting, stop pays, positive pay exceptions, account transfers, and wire transfers. Daily balance reporting should include detail on all transactions with summary reporting on closing ledger and collected balances along with one-day float, at a minimum. a. Fully describe the bank’s on-line service capabilities. List system capabilities (i.e. balance reporting, wires, positive pay, stop pay, etc.) and describe any differentiation on transaction and summary account types. b. Are all reporting processes and services web-based? c. Detail the availability of prior day and intra-day detail and summary reporting. When is prior day information available? What is included? Is intra-day information real-time or delayed? Specify. d. Define the image and history retention features available. e. Can customized reports draw across reporting modules and activities (cross functionality)? Describe and detail. f. Can the bank consolidate information? At what level and on what schedule? g. Describe back-up procedures for use by the City with any interruption in the automated system delivery of information. h. Describe provisions for off-site backup and continuation of services in local or regional disaster situations. i. Describe the security protocol for online services. How is authentication and authorization provided? How is the administration of the security module established and maintained? j. What are the hours of available technical support? How is it provided? k. Submit samples of major screens and reports available or provide a website link and sign-on information for an on-line review of all the City functions, if available. If not available, submit screen prints. 4. Optical Imaging Describe the bank’s optical imaging process and what items are able to be captured (checks, statements, deposit slips, deposited items, etc.). a. Describe the service and provide sample reports and screen layouts. b. Are check images available on-line? If so, when? How long are images available on line? c. Is a monthly CD provided? What is on the CD? When is it available? d. How are images charged? (as created, as viewed, as retained)? e. Is there a fee for more than one CD provided? 5. Collection and Deposit Services Standard deposit services are required. The City anticipates a daily deposit by staff with an average of five individual deposits and a potential for more deposits during summer months. All deposits received by the bank's established deadline should be processed same day. The bank shall guarantee immediate credit on all incoming wire transfers, on-us items, and U.S. government securities maturities and coupons. All other checks clearing will be based on the bank’s published availability schedule. Failure to credit the account will require payment reimbursement to the City at the then-current Fed Funds rate. Returned items are to be redeposited automatically. a. What is the bank’s daily cut-off time to assure same day ledger and, pending availability, collected credit at (a) banking center, (b) branch, and (c) remote facilities? b. Does the bank require or prefer strapping and rolling? What are the cost options/benefits/requirements for separating cash and checks? Coin and check? c. When are credit/debit advices sent to the City from the various deposit location types? Are these advices available on-line? Preference will be given to electronic delivery. Are originals or images of originals with each advice? d. Do daily reports include activity by account and location? Are all deposits designated by location and tracked as such through the reporting? e. Does the bank offer deposit location tracking and deposit reconciliation? f. How does the bank handle discrepancies in deposit amounts? What settlement process is followed? g. How and when does notification of return items take place? List the elements reported (date, status of return, reference number, account numbers and routing number, amount, etc.) h. What type deposit bags are used or required? Are these available from the bank? At cost? i. Are dual verification security measures used on all receipt of deposits at each type deposit location? j. Are any deposits or credits delayed for any reason? k. If provisional credit is given on deposit before verification, when does verification occur? l. How much advance notice is required on coin and currency orders? Can orders be placed on line? Is there any minimum purchase requirement? What is the turn-around time on orders? m. Include a list of all the bank's deposit locations. n. Price the total fees which would apply to the following sample deposit as outlined below. (This does not reflect a normal City deposit and is used for comparison purposes only.)
