Specifications include, but are not limited to: A. Demand Depository Provide a complete schedule of the types of demand deposit services offered by the financial institution, including checking, savings, certificate of deposits, money markets and sweep investments. Include in the schedule a list of your current interest rates offered for collected balances that are available to a government / public funds agency. Indicate if these rates are per account, or aggregate balance. FWHS anticipates maintaining a total average collected balance in excess of one (1) million, however, interest must be posted at the account level. FWHS is subject to the Public Funds Investment Act of the local government code. Ensure all proposed investments vehicles meet the provisions of the act. B. Wire Transfer FWHS currently receives incoming wires, initiates outgoing wires and completes intra-book transfers. The response to this RFP must describe the financial institution’s proposed services including: 1. Policy on daylight overdrafts, including aggregation of accounts and wire deadlines. 2. Ability of FWHS to initiate and monitor wire transfers online 3. Ability to create and store recurring/repetitive wire instructions/templates. 4. Ability to create and store future-dated wire instructions 5. Security measures for wire initiation and approval. C. Automated Clearing House (ACH) FWHS currently initiates one set of landlord payments via ACH files transmitted electronically for its Housing Choice Voucher (HCV) and Special program.
