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Who manages it? The City’s relationship manager is the primary contact for any reconcilement issues. What is the timing for completion of reconciliations after receipt of input information from the customer? Synovus accepts issue files 24 hours a day, 7 days a week. Items must be uploaded to Synovus by 9:00 AM ET each business day to be included in the AOR for that day. E.Should the City’s main accounts be the target of counterfeit drafts, what are your procedures to limit losses to all parties concerned and what is the effect and cost to theCity? Protection you can rely on Safeguarding against fraud and human error is critical to ensure the financial integrity of your company. We can help your team stay on top of all business account activity and stop problems before they start by performing prompt, automatic checks and balances of your records and alerting you of any discrepancies. Guard against check fraud with Positive Pay for Checks. After we receive an electronic file from you listing the details of each check issued, we compare incoming checks to the listing on a daily basis and single out any unmatched items for your review. We’ll release payment on an unmatched check only with your approval, helping you prevent unauthorized payments from happening in the first place. Reduce the possibility of unauthorized ACH transactions with Positive Pay for ACH. We compare electronic account transactions against payments you previously authorized and suspend any item that’s not a match. We’ll present the questioned transaction to you and pay it only with your approval. If your business has multiple locations or internal divisions that make deposits, our Deposit Reconciliation services can helpsimplify matters, reduce bank costs and improve accuracy. Using a location code embedded on the MICR line of your company’s deposit tickets, we’ll track and subtotal your deposits and provide a recap report listing each deposit made to your account, sorted by the assigned location code. Streamline the process of settling your bank balance to your ledger balance with our Account Reconciliation service. With Full Reconciliation, we offer complete reporting of all debits and credits recorded during the accounting period, comparing your electronic file with checks paid and other activity on your account. You’ll receive electronic reports in a format compatible with your accounting system, allowing you to reduce administrative time and processing costs while improving accuracy and gaining greater control of the reconciliation process. F.Describeyourprocessforresolvingdepositdiscrepancies,especiallywhencashisinquestion. Cash deposits are credited immediately, and most check deposits are next day availability. If the City makes a deposit by physically bringing it into a branch, we will notify the City of the difference and ask them how they want to proceed. Any deposit discrepancy other than night drop discrepancies are July 12, 2024Page 73 City of Sunny Isles Beach RFP 24-06-01 Banking Services - Synovus Bank Submission