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10.The Proposer will furnish the City an Availability of Funds Schedule for the clearing of deposits. The <br />scheduleshallcontainthelatesttimeofthedayfordepositstoincurtheleastnumberofdaysfor <br />clearing each of the following deposit items: Please provide the availability of funds schedule for <br />clearing of deposits. <br />Checks drawn on: <br />A.The Selected Bank (on-usitems):Next day availability <br />B.Local (Palm Beach County)Checks:Next day availability <br />C.StateChecks: Next day availability <br />D.U.S. GovernmentalChecks Next day availability <br />E.InterstateChecks Next day availability <br />F.Do you provide forfractionalavailability?No <br />If YES, provideexplanation <br />G.Credit carddeposits.Next day availability <br />Funds Availability <br />Synovus’ funds availability schedule is to make funds from your cash and check deposits available to <br />you on the first business day after the day we receive your deposit. Electronic direct deposits will be <br />available on the day we receive the deposit. <br />For determining availability of your deposits, every day is a business day except Saturdays, Sundays, <br />and federal holidays. If a deposit is made before 5:00 PM ET on a business day that we are open, we <br />will consider that day to be the day of your deposit. However, if you make a deposit after 5:00 PM ET <br />or on a day we are not open, we will consider that the deposit was made on the next business day we <br />are open. <br />Incoming wire transfers and ACH will be credited tothe City’s account on the same day if they are <br />received by 6:00 PM ET. <br />Remote Deposit allows foranextendeddeposit deadline of6:00PM ETeachbusinessday,forsame <br />dayledger credit. <br />11.Electronic Funds Transfer: Describe the services you provide for the payment to vendors through the <br />Automated Clearinghouse by means of electronic funds transfer. (If additional space is required, please <br />include as an appendix to your proposal.) Include a description of the services you are able to provide <br />in implementing an ACHprogram. <br />ACH Origination including deposit of payroll, vendor payments, federal taxes, and state taxes is <br />offered through our internet banking platform, Synovus Gateway, or throughan FTP (File Transfer <br />Protocol) to allow the Cityto transmit funds between banks through the Automated Clearing House <br />(ACH) Network. ACH Origination through Synovus Gateway offers PPD, CCD and CTX payment types. <br />With each of these payment types, the Citywill have the ability to use templates to import or <br />originate. Synovus follows the rules for posting ACH transactions received and originated from both <br />Nacha and the Federal Reserve. ACH transactions are posted based on the effective date of the item <br />or batch, and when the item was received or originated from the Federal Reserve for posting. <br />ACH transactions received and originated from both Nacha and the Federal Reserve. ACH transactions <br />are posted based on the effective date of the item or batch, and when the item was received or <br />July 12, 2024Page 66 <br />City of Sunny Isles Beach RFP 24-06-01 <br />Banking Services - Synovus Bank Submission <br /> <br />