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D.Deposit Processing and Remote DepositCapture <br />1.The bank will provide the ability to deposit checks using remote deposit capture. A check scanner <br />and appropriate software will be provided to the City to digitally capturethecheckimagesfor <br />deposit.Thedepositwillbebalanced,andanelectronic depositslipcreated.Thefilewouldthenbe <br />transmittedtothebankthrough a secure websiteforpostingtotheCity’soperatingaccount. <br />Proposershalldescribeitsremote deposit capture services to include related costs to theCity. <br />Synovus Gateway Remote Deposit <br />Synovus offers flexibility to deposit paper checks electronically directly into the City’s Synovus <br />account(s). An easy way to deposit paper checks electronically with a desktop scanner, or <br />anywhere business finds you using your mobile devise and the Synovus Gateway Mobile <br />application. This will help save time and money and allow for an extended deposit deadline of <br />6:00 PM ET each business day, for same-day ledger credit. <br />Authorizedemployees will scan checks for deposit by using a bank approved scanner. Next, you <br />willconfirmthecheckamountsandverifythatthedepositbalances.Youwillthensubmitthe <br />deposit to Synovus with confirmation oftransmission. <br />Highlights <br />One consolidated view of activity from multiple locations into multiple accounts. <br />Virtual endorsements <br />Same-day account credit available. <br />Email deposit notifications. <br />What it Does: <br />Eliminates frequent bank trips, travel expenses, and employee risk. <br />Enables error corrections before deposit submission. <br />Simplifies recordkeeping with online archive of scanned images, deposit info, and reports. <br />Reduces paperwork. <br />Speeds funds availability. <br />Increases working capital and improves cash flow. <br />Prices are detailed in our Proforma. <br />2.The Proposer will specify the requirements for depositing checks and currency along with its <br />availability schedule for deposited items: cash, in-state checks, out-of-state checks,foreignchecks, <br />etc.Thebankwillallowdepositswithanattachedbreakdown of individual checks rather than <br />itemizing each check on the depositslip. <br />Funds Availability Schedule <br />Synovus’ funds availability schedule is to make funds from your cash and check deposits available <br />to you on the first business day after the day we receive your deposit. Electronic direct deposits <br />will be available on the day we receive the deposit. <br /> <br />For determining availability of your deposits, every day is a business day except Saturdays, <br />Sundays, and federal holidays. If a deposit is made before 5:00 PM ET on a business day that we <br />July 12, 2024Page 23 <br />City of Sunny Isles Beach RFP 24-06-01 <br />Banking Services - Synovus Bank Submission <br /> <br />