a. Deposit Services: o Process and deposit of cash and checks at branch locations and credit funds to specified accounts. Offerors should provide a listing of branches, night drop locations, and payment vaults within Hanover County. If courier services are recommended, please describe. o What is the ledger cut off time for deposits? o Can checks, currency, and coin be included in the same deposit or are split deposits required? o Does the bank accept loose and/or rolled coin for deposit at branch locations? Is there a fee difference for depositing loose or rolled coin? o What type of deposit bags does the bank allow/require? Does the bank provide these bags? Does the bank charge for these bags? Are there any restrictions on deposit bags provide by the customer? o How are deposits credited? Are items immediately verified? If provisional credit is given, when does verification take place? b. Return Item Processing o Can returned items be automatically re-deposited? If so, how many times and at what cost? o Does the bank offer any service options that may increase the collection of NSF items? Does the bank offer represented check entries (RCK) services (A physical check that was presented but returned because of insufficient funds may be represented as an ACH entry)? o Can the bank provide a detailed return item transmission to the County? Can this report identify the payer’s name, depositing location, deposit date, and the type of item being returned? o Can the bank provide online access to electronic images (back and front) of returned items to the County? How soon after an item is returned can these images be accessed? c. Electronic Transfer of Funds (Wires/ACH/ intra-bank account transfers) o What is the recommended delivery method (i.e. direct transmission, online or other)? o What training does the bank provide? o What reporting options are available? o What controls are in place to protect against lost files and duplications of transmissions? o On incoming ACH credits, what level of detail is available with ACH Addendums (invoice number, etc.)? How is this information transmitted to the County? Can information be downloaded and automatically coded for entry into the County’s general ledger? What file formats are available? o Describe the financial institution’s ability to block unauthorized ACH debits? If the bank provides ACH debit blocking, what level of filtering can be applied? o Does the bank offer ACH Positive Pay (ability to make pay/no pay decisions on unidentified ACH transactions)? o Does the bank offer Universal Payment Identification Code (the ability to mask visible account numbers to reduce the risk of unauthorized direct debits)? o How are returned and rejected ACH transactions handled? What information does the bank provide to assist in identifying returned and rejected ACH transmissions? When and how is this information available? o If wire transfers can be initiated online, describe the system’s security features. Can varying degrees of authorization be set on (i.e. multiple authorizers, maximum dollar amounts, etc.)? o Describe the process of initiating an intra-bank account transfer? Does the bank offer its customers dual control release options (secondary approval levels) for electronically initiated transfers? If so, describe. d. Online Services for Account Information and Reconciliation o Does the bank offer full and partial account reconciliation program (ARP) services? Please discuss options and provide sample reports. o Describe how reconciliation data is transmitted to the County. e. Check Imaging o What is the recommended delivery method (i.e. direct transmission, online or other)? o Can the bank provide online access to electronic images (back and front)? How soon after an item is processed can these images be accessed?
