Specifications include, but are not limited to: The banking services to be provided are listed on the Bid Form; see the attached estimated monthly volumes. The following identifies and discusses the services to be provided and the City of Palestine RFP BANK Depository 03-25-2024 (002) Page 7 of 8 requirements to be met. Please attach copies of reports and separate agreements that apply to each service, if applicable. 1. Controlled disbursement. 2. On-line reporting system which will provide the daily ending ledger, debit and credit detail, and collected balances from the prior day. Ability to customize multiple users' account access, functions, and dollar limits by City staff administrator. 3. Processing of all deposited items of checks and cash to include encoding services, credit and debit advice given to the City within three business days of the debit or credit, clearing returned items twice, and return of stamped duplicated deposit slips to the City within one business day of the deposit. 4. General ACH services 5. General wire transfer services including on-line initiation of repetitive wire transfers with twoperson initiate/approve controls. 6. Account reconciliation services 7. The City will require calendar-month-end monthly bank statements. Bank statements on all accounts shall be rendered within five (5) working days after the close of the cut-off date. Statements shall include transaction activity made on the last day of the period. The accompanying checks and deposit slips shall be arranged in numerical order for the operating account and payroll account. All other account statements should include debit/credit advices.
