Banking Services

The Vendor is required to provide banking services to municipal government clients.
- State branch locations within the City and surrounding areas.
- Various account types available: operating, interest-bearing, LOC, virtual accounts and alias structures.
- State sweeps/liquidity: zero-balance, target balance, automated transfers between CAD/USD, investment sweeps.
- Payments
•    File standards, submission methods, return and reject handling, Pre-Authorized Debits (PADs), controls, cut-off times.
•    Outline cheque issuance: cheque printing services; secure stock; Positive Pay (with payee protection); images; stop payment workflow.
•    Deposit: branch, remote deposit capture; image quality; daily limits.
•    Fraud Tools: payee match, alerts; cheque clearing timelines.
•    Wire networks, formats, fees, cut-offs and SLA’s 
- Provide a description of current or upcoming enhanced security measures.
- The security features to ensure the secure and transparent management of public funds.
- The file formats, frequency and delivery methods for financial reporting, processing payments, including preauthorized debits and processing bank statements.
- The methods supported: visa, MasterCard, AmEx, Interac e-Transfer for business, digital wallets.
- Connectivity and management: Ethernet/cellular/Wi-Fi; remote fleet management; software updates.
- Reconciliation: terminal/site-level reporting; daily close files; GL mapping.
- Use Cases: citizen receivables, refunds, vendor payments (small value).
- State transaction limits and daily limits, and approval workflows.