Specifications include, but are not limited to: Standard commercial deposit services must be available although checks are deposited almost totally by remote deposit. However armored car services are used for deliveries to the branch bank. Deposits may consist of a small amount of coin and currency as shown on Attachment A (averaging $38,000 per month). Coins are not rolled and may be in partially filled bags. Deposits are batched with tapes attached. Rolled coins are frequently required from the local branch. Deposits are sent to the bank by armored car service. The District currently accepts debit and credit cards over the internet, at the POS (counter) and by telephone. The District uses Heartland as its merchant services provider. The District had used a lockbox service in response to Covid for student tuition payments by check but is no longer using the service and it is not to be included under the contract. The District expects all deposited checks to clear based on the bank’s current published availability schedule, but, any expedited availability options should be noted in the proposal. All cleared deposits received by the bank's established deadline must be processed for same day credit. The bank shall guarantee immediate credit on all incoming wire transfers, ACH transactions, on-us items, and U.S. government security maturities and coupon payments. Failure to credit District accounts in a timely fashion will require interest payment reimbursement to the District at the then-current daily Fed Funds rate.
