Vendor needs to provide depository services to the government authority located in Biloxi, MS.
Sweep Account:
- The sweep account must be done in the background, not affecting any individual bank account balances so that bank statements can be reconciled without the sweep transactions. All bank accounts must be kept separate from each other.
- Banks will be required to provide the actual check images (both front and back) with the bank statement and make them available for viewing through online banking.
- Bank statements will be required to reflect activity through the last working day of each month.
- Deposit corrections should be sent to the district within two working days. All inquiries, problems, and corrections should be directed to District revenue bookkeeper.
- Banks will be required to provide computerized online access to all bank accounts.
Lead Bank:
- The lead bank transactions between banks must be done in the background, not affecting any individual bank account balances so that bank statements can be reconciled without the intra-bank transactions.
- Bank statements will be required to reflect activity through the last working day of each month.
- Banks will be required to provide to the district, if that bank is selected as the lead bank, such items as new counter checks, deposit books, locking bank bags, and stamps. Bank will not charge separately for these items.
↧