Banking Services

The Vendor is required to provide banking services for include:
- Bank account information
1. One (1) interest bearing sweep account
•    Must have the option for an earnings credit rate (ECR) peg balance to be maintained to cover the monthly service fees.
2. One (1) zero balance (ZBA) general checking account
•    Vendor checks – average 500 per month
•    Automated clearing house (ach) – average 20 per month
•    Wire transfers – average five (5) per month
•    Vault services discussed in detail under services
•    Depository services discussed in detail under services
•    Currency coin orders discussed in detail under services
3. One (1) ZBA payroll account
•    Used to fund ADP wires weekly for four (4) different pay groups
•    Issue on average 10 manual replacement checks monthly.
4. One (1) ZBA credit card activity account currently
•    Used to receive deposits from six (6) JP Morgan Paymentech MIDs
5. One (1) ZBA workers comp account
•    Used to fund payments issued by our third party administrator for workers compensation claims.
- Requirement:
1. Vault services
•    Average around 170 coin and currency deposits each month
•    Includes a combination of standard straps, nonstandard straps, standard coin bags and mixed coin bags. 
•    Provide deposit slips with unique location identifiers that are reflected on the daily bank statements. 
•    These identifiers are used to track which garage or service the deposits relate to. 
•    Provide plastic bags and straps as needed. 
•    Shipments are currently taken to the vault 5 days per week by agency contractor for armored transport services. 
•    Provide images of requested deposit slips, bags and currency and coin breakdown within 3 business days to research discrepancies.
2. Depository services
•    Agency currently averages between 250 and 300 remotely deposited checks per month. 
•    Funds should be available to agency immediately.
•    Solution should be able to read business checks, personal checks and money orders 
•    Ability to search and view checks from previous deposits. 
•    Provide equipment and software for remote deposit services. 
•    Scanner should be able to endorse the check with agency and date.
3. Currency and coin orders
•    The bank must be able to provide up to $100,000 in dollar coin and up to $20,000 in quarters annually as requested and within 2 business days.
4. E-bank statements
•    Provide electronic bank statements for cleared checks daily.
•    Generate a direct transfer into SAP ECC that lists the checks that have cleared.
•    Must be a txt (tab delimited) output file.
•    Check numbers should be 10 digits, no preceding zeros.
5. Positive pay
•    Positive pay on the ZBA accounts.
•    Provide a flat file for all checks issued out of our ERP system, currently SAP ECC, through secure host-to-host transmission. 
•    Website must offer a manual entry option in addition to an automated option. 
•    Accounts must be configurable to have both payee and non-payee match.
•    The bank shall notify agency daily of any exceptions and allow agency to decision the checks for payment, with a default set to: do not pay.