The vendor is required to provide banking services
- Online Treasury Manager:
•Bank activities for all Commission accounts
•Wire service with multi-factor authentication
•ACH authorized debits service available
•Positive Pay: activity reporting (3 factors used), and manual entry of checks/voids/stop payments
•Manage Users: set access and permissions, set monetary limits
•ACH and Wire automated email notifications of activity
•Remote check deposit
- ACH Fraud Control:
•ACH Positive Pay Managed Authorized Access
•ACH Control Totals Debit/Credit
•Daily Positive Pay email notifications of activity
•Debit block on operating account
- Managed File Transfers:
•Positive Pay Files
•ACH Payables Files (NACHA)
•Full check reconciliation file downloads from Positive Pay file
- Courier Communications Services:
•User set up for statements and emails, etc.
•Electronic bank statement setup
•ACH reconciliation reporting issued for all ACH activities
- Purchasing Card Program: Enterprise Spend Platform (ESP)
•The services required to accommodate the Commission’s banking needs are described below. In the Banking Services RFP Response Proposal Form, please describe the financial institution ability to perform
- Commission uses Positive Pay and needs continued access to this security system. Online banking must allow for import of a positive pay file.
- financial institution shall enter a wire transfer agreement with the Commission. The terms of this agreement will be mutually negotiated and agreed upon. Transfers may be in the form of repetitive, non-repetitive, internal, ACH, or EFT. The bank must be a member of the Federal Reserve System and have direct wire capabilities
- Check Cashing. The successful financial institution shall honor all accounts payable and petty cash checks that are on the positive pay listing provided by the Commission and presented by payees at any of its offices when accompanied by appropriate identification, without charge to the payee.
- Online Banking Services. Online banking shall include cash management support. The financial institution must be capable of providing balance, float, and activity figures electronically on a daily basis. Online inquiry, transaction initiation, and reporting systems shall be accessed via internet to include at a minimum:
1. Daily reporting of account balances, collected and available,
2. Account detail for current month and, at minimum, eleven prior months
3. Wire transfer initiation and authorization,
4. Commission originated stop payments and void of checks,
5. Returned items charged against accounts,
6. Check reconciliation files that must be compatible with Microsoft Dynamics GP & Microsoft
Dynamics 365,
7. Online check images (front and back) for disbursements and online check images for deposit items,
8. Records of all account activity must be accessible online. It is preferred these records be available for eighteen months but required for twelve months for audit purposes and,
9. Additional reports to be accessible on the online platform; ACH Controls, Positive Pay, Wire Reports, Stop Payment, Voids, Account Transfer, Image Retrieval and ability to customize reports.
- Contract Period/Term: 5 years