Banking Services

The Vendor is required to provide banking services for banking accounts:
• Account statements
• Monthly account analysis to include bank earning credit or compensatory balances, itemized fees and interest credited to the authority.
• Include a sample statement.
• This account analysis statement shall only be required if itemized fees are being charged to the authority.
• Interest on all accounts shall be credited to the individual accounts.
• A bank statement for each account as of the last calendar day of each month. Within the statement, deposits, debit or credit memos, ach payment and paid checks should be listed (checks may be summarized by date paid).
• The authority would like to continue with our positive pay service to eliminate the possibility of fraudulent checks being presented against our account.
• The authority would like this information to be transmitted via secured web transactions with the ability to interface from our current (and future) financial software system.
• The successful financial institution will provide standard size deposit bags.
• Web-based (on-line) banking capability
• Access shall be provided to a computerized cash management system via a secure web connection, enabling the authority to receive and transmit financial information.
• The authority shall be able to access this system to obtain balance information, as well as transaction details, such as deposit and check paid, with printing functions.
• The capability of retrieving statements and account balances through a secure online account.
• Capability to manipulate dates electronically, to initiate wire transfers or ach transactions, process online stop payment orders and initiate transfer between accounts
• Financial institution shall have the capability to originate incoming and outgoing wire transfers.
• Designation of a bank employee liaison with the ability and authority to continuously troubleshoot the authority’s accounts. This liaison shall serve as the authority’s main contact at the bank.