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Q.PositivePay The bank will provide Positive Pay to ensure the City’s protection and security against fraud and theft. The City will transmit check files bi-weekly on Wednesdays for payroll disbursements and weekly on Fridays, or more frequently, if necessary, for accounts payable disbursements. The bank shall have the capability to accept an uploaded file from the City’s accounting system as well as manual entries into the Positive Pay software for checks issued during interim periods. The Proposer shall provide details of the bank’s process as it relates to this system and discuss alternative procedures should the City be unable to transmit the file electronically (i.e. during a disaster). The bank will contact the City via phone or email if theCityhasnotprovidedinstructiontopayorreturn a checkpriortothePositivePaycut- off deadline. The file that is sent to the bank includes the check date, check number, payee and amount. Positive Pay Fraud Protection Synovus offers a robust Positive Pay service through our Synovus Gateway platform. Listed below are the solutions we offer: Positive Pay allows you to stop any unauthorized payments before checks are paid. Before releasing checks to payees, you send us an issue file of those checks. We then compare checks received to this issue file daily. You will be alerted on any unmatched items are presented for their review and a “pay/no pay” decision. Payee Positive Pay gives an even higher level of fraud protection by requiring the payee’s name to be included in the issue file. If we receive any checksthat are not in the issue file or do not match data in the file, we present them to you for “pay/no pay” decisions. This service extends to the teller line, preventing checks from being cashed in Synovus banking centers. Reverse Positive Pay allows you to review all prior day checks that were presented for payment. It eliminates the requirement of a check issue file. If any of these presented checks do not match your issued checks, you can investigate further byviewing an image of the check. You can then elect to pay or return the check. ACH Positive Pay compares electronic transactions against previously authorized payments (payment rules). ACH transactions the Cityauthorizes in advance are processed normally. Transactions the Citydid not authorize will be blocked and displayed through Synovus Gateway, Positive Pay. Through Synovus Gateway, the Citywill decide to pay/no pay the items. Positive Pay Process and Time Windows For Check and ACH Positive Pay, if there is a discrepancy with a presented item (posts to account), an exception will be identified. Exceptions are delivered to the Cityvia Synovus Gatewayby 10:00 AM ET each business day. Each “User” who is authorized tomake pay/no pay decisions can set up alerts that will notify them when there are exceptions to be decisioned. The City’s pay/no pay decisions must be completed by 2:00 PM ET each day. Synovus Gateway can be accessed using a computer, tablet, or mobile phone to complete positive pay decisions.If a decision is not made on an exception during the decision window, then the default decision of no-pay is applied. Exception items are “next day” decisions. Positive Pay file options are: Manual Entry – The Citymanually enters one check at a time through the online banking portal. File Import – The Citycreates a file from their ERP, saves it to their desktop, and uploads it into the online banking portal. FTP (File Transfer Protocol) – The Cityuses a secure file transfer process to automatically upload check issue file information to Synovus. July 12, 2024Page 35 City of Sunny Isles Beach RFP 24-06-01 Banking Services - Synovus Bank Submission