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<br /> RFP 24-06-01 BANKING SERVICES 19 <br /> <br /> <br />2. Other <br /> <br />a. The City has Edmunds & Associates MCSJ financial systems management software <br />package. The successful bank shall demonstrate past experience with integrating <br />with the Edmunds system or a comparable system in the following ways: <br /> <br />i. Electronic processing of Positive Pay files <br />ii. Electronic processing of check reconciliation files <br />iii. Export and import of ACH electronic payment files <br /> <br />b. The demonstrated experience must include accepted Edmunds MCSJ accepted <br />file layouts, statement showing banking systems accept standard Edmunds <br />exports, and listing of previous customers using banking services with Edmunds <br />MCSJ system or a comparable system in each instance. <br /> <br />B. Bank Accounts <br /> <br />The City currently maintains one operating account (depository), a secondary merchant <br />account, one money market account and two (2) zero balance (ZBA) accounts. <br /> <br />1. Operating Account <br /> <br />a. This account is used for check and cash deposits and other activity to include, <br />but not limited to, incoming and outgoing wire transfers, incoming and outgoing <br />ACH transactions, and other electronic credits and debits. It’s also used for any <br />return item charge backs. This is the main account to which the zero balance <br />accounts are linked. <br /> <br />b. The proposer will provide the interest rate offer for this account as well as <br />discuss any other options to gain a higher yield with limitations governing those <br />options such as maximum monthly withdrawals, minimum balances to be <br />maintained, etc. <br /> <br />c. The proposer will describe its process for FDIC charges and whether the <br />proposer plans on passing these fees to the City. <br /> <br />2. Secondary account – Merchant <br /> <br />This account is used for credit card deposits only. The City currently has nine (9) <br />merchant accounts all held with TD Bank. <br /> <br />3. Money Market Account <br /> <br />This account is used for a small percentage of deposits of excess cash, and it is an <br />interest-bearing account. The proposer will advise of the money market interest <br />rate and any additional options to maximize interest earnings.