HomeMy WebLinkAboutTD BANKPREPARED BY
Treasury Management Services
City of Sunny Isles Beach
RFP No. 24-06-01
July 12, 2024
Proposal information enclosed is proprietary
to TD Bank
PROPOSAL FOR
Pamela Ramkalawan
Vice President, Government Relationship Manager
5900 N. Andrews Ave., 2nd Floor
Ft. Lauderdale, FL 33309
Phone: (954) 233-2064
Cell: (561) 866-8368
Email: Pamela.Ramkalawan@td.com
Table of Contents
Topic
Minimum Qualification Requirements (MQRS) .............................................................................................. 01
Transmittal Letter ............................................................................................................................................ 04
•Executive Summary .......................................................................................................................... 07
Company Information ...................................................................................................................................... 09
Personnel Experience and Qualifications ....................................................................................................... 15
Approach / Methodology ................................................................................................................................. 19
Pricing and Fees ............................................................................................................................................. 46
References ...................................................................................................................................................... 53
Contract Forms ............................................................................................................................................... 55
Questionnaire Form ........................................................................................................................................ 73
Exceptions ....................................................................................................................................................... 91
Minimum Qualification Requirements (MQRS)
1.Minimum Qualification Requirements (MQRS)
Firms must read the MQRs first to ensure your firm meets these requirements in order to
provide a response to this RFP. Firms that do not meet all the MQRs stated will be
determined non-responsive and disqualified from the evaluation process and will not be
considered. Proposer must provide all MQRs as requested, in addition to the information
requested below.
Please refer to the following pages for TD's response to the City's MQRS.
Proposed by: TD Bank, N.A.Page 1
Minimum Qualification Requirements (MQRS)
2.3 MINIMUM QUALIFICATION REQUIREMENTS (MQRS)
1.Please read the MQRs to ensure the Firm meets these requirements prior to submitting a
response to this RFP.
TD Bank acknowledges the above.
2.All Minimum Qualification Requirements (MQRs) must be submitted with Firm’s response.
TD Bank acknowledges the above.
3.Firms that do not comply with MQRs may be determined non-responsive and disqualified.
TD Bank acknowledges the above.
4. Awarded firm will be required to maintain Minimum Qualification Requirement a and b
during the term of the Contract and any Contract renewals.
a.The Proposer shall hold the proper license/qualifications to perform the Scope of
Work set forth within this solicitation to including but not limited to the following:
•Federal or State of Florida Charter Bank;
•Certified as a “Qualified Public Depository” under Chapter 280 Florida
Statutes, “Security for Public Deposits”;
•Member of FDIC; and
•Member of Federal Reserve System.
The Proposer must provide a copy of the applicable license(s) or status with Firm’s
response.
TD Bank acknowledges the above.
b.The Proposer shall have a branch bank located in Sunny Isles Beach. Be a Federal or
Florida chartered bank with a principal Branch office located within a ten (10) mile
radius of the city of Sunny Isles Beach, Florida, from the zip code 33160. Preference
may be given to proposing banks with a principal Branch office within the city limits of
Sunny Isles, Beach.
c.The Proposer must have received an unqualified opinion in its audited financial report
for each of the last two (2) years.
Proposer must provide a copy of the opinion with Firm’s response.
TD Bank's most recent financial information including annual audit financial
reports for the last two years are available online at:
https://www.td.com/investor-relations/ir-homepage/ir-homepage/investor-
index.jsp
d.The Proposer must have at least five (5) years’ experience having provided the scope
Proposed by: TD Bank, N.A.Page 2
Minimum Qualification Requirements (MQRS)
of services as outlined in the RFP and provide details of this experience. The City will
review the bank’s incorporation date filed on Sunbiz.org by month and year. As of the
submittal due date is the period of time counted for the five-year experience.
TD Bank acknowledges the above.
e.The Proposer shall provide reference letters for five (5) verifiable clients with a
minimum of three (3) municipalities/local governments, for projects of similar scope
as outlined in this RFP. Please ensure the contact information provided is up to date
and accessible. Proposer must complete the Questionnaire Form # 22 to meet this
requirement.
TD Bank acknowledges the above.
f.The Proposer must submit most recent audited financial statements to substantiate
the financial stability of the Proposer. Please note, financial statements are exempt
from public records request.
From this report, please indicate its effective date and amount of capital and
surplus for your institution.
Capital $ 46,280,4371
Surplus $ 34,002,753
Total $ 367,174,651
Date: as of 12/31/23
1Balances include Noncontrolling Interest
Proposed by: TD Bank, N.A.Page 3
Transmittal Letter
2.Transmittal Letter
A letter of transmittal, signed by an authorized officer of your company, briefly stating
the Proposer’s understanding of the services to be performed and a positive commitment
to perform the services described herein. Provide the name(s) of the person(s) who will
be authorized to make representations for the Proposer, their titles, office and E-mail
addresses and telephone numbers.
Please refer to the following pages for TD's Transmittal Letter.
Proposed by: TD Bank, N.A.Page 4
Transmittal Letter
July 12, 2024
City of Sunny Isles Beach
Attn: Genesis Cuevas, MPA, CPPB, NIGP-CPP
Purchasing Manager
18070 Collins Ave.
Sunny Isles Beach FL 33160
RE: RFP # 24-06-01 Banking Services
Dear Ms. Genesis Cuevas:
TD Bank, N.A. is pleased to be included in the Request for Proposal for Banking Services for the City
of Sunny Isles Beach (also referred to as the City). We are confident that TD Bank can continue to
meet the outlined requirements and exceed the expectations of the City when it comes to providing all
banking services.
TD Bank, America’s Most Convenient Bank®, is committed to outstanding customer service. TD Bank
has been named the best bank for customer satisfaction by such notable organizations as J.D. Powers
and Consumer Reports. At a time when many banks are cutting back, TD Bank continues to invest in
innovative technology and the expansion of our branch network. We pledge to the City of Sunny Isles
Beach that our staff will be responsive to your needs and will deliver excellence day after day. TD
Bank will continue to commit numerous resources to provide an unparalleled banking experience to
the City of Sunny Isles Beach and our other clients.
Government Banking has been an important line of business at TD Bank for many years. Our team
approach to working with municipalities has allowed us to manage over $29.6 billion in public funds
as of May 2024. We are leaders in Government Banking in Maine, New Hampshire, Vermont,
Massachusetts, New York, New Jersey, Pennsylvania, and Delaware. Our Government Banking
business continues to grow in markets of Florida, Maryland, Virginia and the District of Columbia. TD
Bank is ranked the 3rd top holder of public deposits in Florida and the United States.
A team of our finest professionals have been assembled to manage the City's relationship, Pamela
Ramkalawan, Vice President, Government Banking Relationship Manager has over 23 years of
banking experience. Pamela will be the Relationship Manager and is authorized to legally bind TD
Bank to this proposal. Andrea Tyrell-Grant, Vice President Treasury Sales Officer, will continue to
serve as the Treasury Officer responsible for Treasury Management services. Seana Lassiter and Sue
Gibbs will act as sales and service support to the City. Together, this team will be able to deliver TD
Bank's Legendary Customer Service.
In our recommended solution, the TD Municipal Advantage Checking account will continue to provide
the City maximum flexibility along with the increased control to achieve the best possible return on
funds. In this tailored solution, the City will receive an Earnings Credit Rate of 300 basis points*.
Proposed by: TD Bank, N.A.Page 5
Transmittal Letter
All of the City of Sunny Isles Beach's funds that are not required to off-set service fees will automatically
receive an interest rate of 300 basis points*. Key details of TD's offer to the City of Sunny Isles Beach
are:
Substantial Net Interest Benefit over current financial institution
"Managed” Earnings Credit Rate (ECR) with a rate of 300 basis points*
Competitive 300 basis points* Interest for Excess Funds Not Needed to Offset Banking
Services
TD Bank provides the City of Sunny Isles Beach a 9 month waiver of Account Analysis fees,
not including Courier fees, from the date of contract signing. TD Bank will provide the City a
monthly banking account analysis
No FDIC Charges for the Life of the Contract
Customized, In-Person or Virtual Trainings on all TD Bank Services (if needed)
Local Relationship Management Team, in Ft. Lauderdale
The City will NOT incur any transition costs or the need to allocate valuable time and resources
to a conversion.
Waiving All One-Time Implementation Costs Related to any additional Banking Services
At TD Bank, we are convinced that our innovative approaches and commitment to detail set us apart
from the competition. Our Government Banking team will work side-by-side with the staff from the City
to ensure complete satisfaction. In addition, we pledge to keep you abreast of the latest developments
related to Banking Services.
As part of the new contract process: execution/updates of signature cards, a corporate resolution, and
a TD Bank Cash Management Master Agreement will be required. Copies of these documents will be
made available after our initial meeting discussing any updates needed and the implementation
process.
Thank you for the opportunity to present our bid to City of Sunny Isles Beach. We are confident that
the City of Sunny Isles Beach will continue to find comfort in knowing that TD Bank is one of the world's
strongest financial institutions and will continue to be a safe and sound financial partner. We look
forward to your favorable response. Should the City of Sunny Isles Beach require any additional
information, you may continue to contact your relationship manager, Pamela Ramkalawan.
Sincerely,
Pamela Ramkalawan
Government Banking Relationship Manager
TD Bank's FL Diversity and Inclusion WIL Chair
5900 N. Andrews Ave. 2nd Floor
Ft. Lauderdale, FL 33309
Phone: (954) 233-2064
Cell: (561) 866-8368
Fax: (954) 233-2037
Email: Pamela.Ramkalawan@td.com
Proposed by: TD Bank, N.A.Page 6
Confidential
Executive Summary
TD Bank is qualified to meet the financial service needs of the City of Sunny Isles Beach. Throughout our
proposal, TD Bank will demonstrate its unmatched commitment to customer service, our knowledge and
understanding of banking for our Governmental Clients, our state-of-the-art treasury management
products and services, our innovative approaches, and – most importantly – our desire to be your bank
of choice. The following summarizes our proposal response:
Relationship Management, Customer Service, and Community Engagement
TD Bank prides itself on creating positive banking experiences for our clients. The TD Bank team is here
to help and will continue to deliver best-in-class service to you while working to better the communities
where we collectively live and work.
We know Government entities have unique needs and have developed a Government Banking group to
help entities comply with numerous statutes that dictate how they conduct financial affairs. Our
Relationship Team is well-versed in public finance and how to structure accounts and treasury
management solutions that provide cost savings, maximize interest earnings, and simplify the way our
Government Clients conduct business. Careful attention is paid to the details that matter, and our
Government Bankers will provide on-going support the City of Sunny Isles Beach's employees. Periodic
relationship reviews will be conducted to ensure that you have the appropriate products and services and
to keep staff abreast of new technologies and innovations in treasury management as well as other new
services offered by the bank.
The Ready Commitment
TD Bank is committed to enriching the lives of our clients, colleagues, and communities. We aspire to
help create an inclusive future where individuals and communities feel confident that they can succeed
in a changing world. We deliver on this purpose through The Ready Commitment, grounded in four
interconnected drivers of change:
•Financial Security
•Vibrant Planet.
•Connected Communities
•Better Health
The Ready Commitment creates value for businesses and communities across our footprint by driving
social and environmental impact for all of our communities. We uncover ways to use our core business
from product development to lending and investing to create shared value. As an environmental leader,
we're committing $100 billion (CDN) in our business transient to a low carbon economy by 2030.
With long-term view, we use our philanthropy to open doors to a more inclusive and sustainable
tomorrow. We will deliver $1 billion (CDN) in community giving by 2030. We leverage the strength of our
employees to make an impact and are targeting 4 million volunteer hours globally by 2030.
Proposed by: TD Bank, N.A.Page 7
Executive Summary
About TD Bank
TD Bank, America’s Most Convenient Bank, is one of the 10 largest
banks in the U.S., with more than 27,000 colleagues providing over 10
million customers with a full range of retail, small business and
commercial banking products and services at more than 1,100
locations throughout the Northeast, Mid-Atlantic, Metro D.C., the
Carolinas and Florida.
In the U.S., TD Bank has a long history of prudent risk management
and a strong mix of deposit clients and customers across all industries
and sectors. TD Bank has maintained a dedication to stability while
satisfying our customers, our employees, our shareholders and our
communities.
TD Bank’s parent, The Toronto-Dominion Bank of Toronto, Canada,
was named by Global Finance Magazine among the “World’s Safest
Banks.”
TDBG Key Facts
• Second largest bank in Canada by assets
• Global Systemically Important Bank (G-SIB), which means that
it is held to a higher regulatory standard and higher capital
requirements and more stringent stress tests.
• Historically maintained a stable balance sheet that is not overly
invested in long-term assets, which facilitates liquidity.
• TD Bank Group has an investment grade credit rating (AA-).
• TD’s investment portfolio as a percentage of assets is 18%, which includes significantly higher
deposits than loans, which facilitates liquidity.
An Important Decision
At TD Bank, we offer the best of both worlds: the hands-on, client-first mentality you would expect from
a local bank combined with all the capabilities of a globally recognized financial institution. From meeting
your borrowing needs to discussing capital strategy to investing excess cash, we're ready to help.
Combined, these factors make TD Bank the ideal choice as the City of Sunny Isles Beach's preferred
financial services provider.
TD Bank Quick Facts
• $409.4 billion in assets*
• $324.4 billion in deposits*
• $192.4 billion in loans*
• $35.5 million in charitable
contributions (2023)
• ~10 million customers*
• ~27,502 employees*
• 1,173 US locations*
• Credit Ratings (US): Moody’s
Aa2 / S&P AA-*
Environmental
Stewardship
• Opened the nation’s first net-
zero energy bank location that
produces more electricity on
site than it consumes
• First large North American
bank to be carbon neutral
• Purchases renewable energy
credits for 100% of the
electricity consumed by our
Stores, ATMs, and operations
*As of 04/30/24. Additional information is available at www.td.com/investor-relations
Proposed by: TD Bank, N.A.Page 8
Company Information
3. Company Information
In response to this Proposal, all Proposers must provide the following:
• Name of Financial Institution (including any "Doing Business As" names)
TD Bank, N.A.
• Headquarters and local Branch Locations
Headquarters
TD Bank, N.A.
1701 Route 70 East
Cherry Hill, NJ 08003
Local Relationship Management
Pamela Ramkalawan
Vice President, Government Relationship Manager
5900 N. Andrews Ave., 2nd Floor
Ft. Lauderdale, FL 33309
Phone: (954) 233-2064
Cell: (561) 866-8368
Email: Pamela.Ramkalawan@td.com
TD Store
TD Sunny Isles store
16830 Collins Ave
Sunny Isles Beach, FL 33160
Phone: (305) 956-5770
Less than 1 mile away from the City's Government Center.
• Internet Web Site Address (if any)
www.TD.com
• Details of Entity Business Structure (Corporation, Partnership, LLC)
TD Bank is a National Association.
• Date Founded
1852.
Proposed by: TD Bank, N.A.Page 9
Company Information
• Headquarters address and telephone number, and local branch address and
phone number
Please refer to the Headquarters and branch assigned to the City in
the response above.
To view a full listing of TD stores in the area, the City can go online to
view this information with the link below:
https://www.td.com/us/en/personal-banking/store-locator#/
• Proof of insurance
As financial institutions, the Toronto-Dominion Bank and its wholly
owned subsidiaries are required to maintain minimum regulatory
capital levels to fund potential losses stemming from credit, market
and operational risks. In addition to maintaining strong capital and
liquidity positions, we manage a broad portfolio of insurance programs
commensurate with the scope of business activities and operations
typical to a financial institution of our size and that also meet statutory
requirements.
Within our portfolio of insurance programs we maintain the following
types of traditional coverage:
• Comprehensive General Liability for bodily injury and property
damage including personal injury, blanket contractual and
products and completed operations.
• Professional Liability covering liability for financial loss
stemming from errors, omissions or negligence in the
performance of professional services.
• Workers Compensation or alternative plans or coverage
permitted in the forms required under the applicable
jurisdictional regulations.
• Comprehensive Crime and Fidelity including Computer Crime
covering losses that the Bank might incur as a result of
fraudulent or dishonest acts of external parties or Bank
employees committed against the Bank.
• All Risk Property Insurance covering the Bank's premises,
equipment and contents utilized in the execution of its
operations.
Within our insurance programs, the Bank may deem it appropriate to
self-insure components at levels deemed acceptable by the
organization and that are well within the capacity of the firm to absorb
the risk. All insurance that is retained must be provided by insurers
that meet minimum claims paying capability acceptable to the Bank.
Please refer to TD Bank's Certificate of Insurance in the Contract
Forms section.
Proposed by: TD Bank, N.A.Page 10
Company Information
•Indication of how long it would take to implement service after authorized to
begin
TD Bank has the privilege of being the incumbent service provider for
the City. This represents business as usual to the City without any
disruption to your daily banking needs. In the event the City wishes to
add additional treasury management services, your Relationship
Management Team will work closely with you to ensure a smooth and
seamless implementation as well as delivering our promise of legendary
customer service.
•List of any outstanding litigation that would threaten the viability of the firm or
the performance of this contract
TD Bank, N.A. has routinely engaged in legal proceedings occurring in
the ordinary course of its business, both throughout its footprint and
elsewhere in the United States, none of which have a material impact on
the financial condition of TD or on TD’s ability to perform under the
proposed contract.
•Financial Stability of the Bank along with audited financial statements
TD Bank's most recent financial information including annual audit reports are
available online at: https://www.td.com/investor-relations/ir-homepage/ir-
homepage/investor-index.jsp
Proposed by: TD Bank, N.A.Page 11
A1
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Business Profile
April 30, 2024
About Us
TD Bank 1 , America’s Most Convenient Bank®, is one of the 10 largest banks in the U.S.2, providing
over 10 million customers with a full range of retail, small business and commercial banking
products and services at more than 1,100 convenient locations throughout the Northeast, Mid
Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank,
N.A., ofers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also
ofer customized private banking and wealth management services through TD Wealth®. TD Bank
is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us . Find TD Bank on Facebook
at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US /.
TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 financial services company in
North America 3 . The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges
under the ticker symbol “TD”. To learn more, visit www.td.com/us.
Our Business Model
We’re committed to delivering everything customers would expect from a bank—plus,
everything they wouldn’t—while also protecting the health and well-being of our customers
and colleagues in today’s environment. We’re dedicated to our customers, communities and
colleagues, to inclusion and diversity and to our environment. And we focus on always being
more customer-centric, more convenient and more Unexpectedly Human than any other bank.
•Legendary Service
•Longer Hours
•Live Customer Service 24/7
•Online & Mobile Banking
•Instant Debit Card Issuance
•Mobile Check-in availableat Stores
Key Statistics
TD Bank (see footnote 1)(As of 04/30/2024)
Total Assets ~$409.4 billion
Total Deposits ~$324.4 billion
Total Loans ~$192.5 billion
Commercial ~$97.5 billion
Personal ~$95.0 billion
Retail Stores 1,173
ATMs (see footnote 4 )2,650
Customers (see footnote 5 )~10 million
Employees 27,502
2023 Charitable Contributions (see footnote 6 )$35.5 million
Credit Ratings (see footnote 7)
Moody’s S&P Fitch DBRS
The Toronto
Dominion Bank
Long Term Deposits Aa1 AA-AA AA (high)
Legacy Long Term Debt (see footnote 8)Aa2 AA-AA AA (high)
Long Term Debt (see footnote 9 )A1 A AA-AA
TD Bank, N.A.Long Term Deposits Aa2 AA-AA AA
Long Term Debt AA-AA-AA
For further details on financial information and credit ratings for The Toronto-Dominion Bank andTD Bank, N.A., please visit our Investor Relations website: td.com/investor
1 TD Bank refers to the U.S. retail business segment of TD Bank Group. Amounts are in U.S. dollars unless otherwise noted.Total Deposits and Total Loans reported are averages for the second quarter ended April 30, 2024. Total Loans include personaland business loans. Total Deposits include personal and business deposits as well as the insured deposit account agreement withSchwab. Total Assets based on TD Bank U.S. Holding Company.
2 Based on total assets as of February 29, 2024. Source: S&P Global, 50 largest US banks by total assets.
3 Based on assets as of April 30, 2024 (for Canadian peers).
4 Total ATM numbers as of April 30, 2024 and include Live, Mobile and TD-Branded ATMs.
5 TD Bank retail customer counts are approximate and includes Consumer Banking, TD Auto Finance, and Wealth Consumer customers.
6 U.S. Community Giving processed through the TD Ready Commitment Network; includes TD Bank giving and TD CharitableFoundation grants as reported from November 1, 2022 through October 31, 2023.
7 Ratings on long-term debt and deposits of The Toronto-Dominion Bank and TD Bank, N.A., as of April 30, 2024. Credit ratings are notrecommendations to purchase, sell, or hold a financial obligation inasmuch as they do not comment on market price or suitabilityfor a particular investor. Ratings are subject to revision or withdrawal at any time by the rating organization.
8 Includes (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 whichis excluded from the bank recapitalization “bail-in” regime.
9 Subject to conversion under the bank recapitalization “bail-in” regime.
U.S. Retail Banking Lines
of Business:
Retail Banking
Commercial Banking
Wealth Management
TD Auto Finance
Operates retail Stores in15 states & the District of
Columbia:
Connecticut
Delaware
D.C.
Florida
Maine
Maryland
Massachusetts
New Hampshire
New Jersey
New York
North Carolina
Pennsylvania
Rhode Island
South Carolina
Vermont
Virginia
TD’s Commitment to Communities it Serves:
In March, TD announced the grant recipients of its 2023 TD Ready Challenge, an annual North American initiative that seeks to support non-profit and charitable organizations developing innovative, impactful and measurable solutions for communities across the U.S. and Canada. This year, five U.S. non-profit organizations each received a $1 million grant to provide innovative solutions that address systemic barriers to afordable housing across the continuum from transitional to permanent homes.
Awards and Recognition:
2023 American BankerMost Powerful Women inBanking Top Team
62-23646 (04/24)Proposed by: TD Bank, N.A.Page 12
Metric (TDGUS)4Q 2023 Regulatory Minimum
LCR (quarterly avg.)117.80%100%
NSFR (quarterly avg.)104.08%100%
CET1 17.06%7 %
Background
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., with 28,000 colleagues providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida.
In the U.S., TD Bank has a long history of prudent risk management and a strong mix of deposit clients and customers across all industries and sectors. TD has maintained a dedication to stability with a focus on satisfying our customers, our colleagues, our shareholders and our communities.
2024
TD Bank Remains Committed to Financial Stability
TD Bank consistently maintains liquidity and capital regulatory ratios in excess of regulatory minimums, with a focus on maintaining sufficient liquidity and capital to help it withstand stress.
TD Bank, America’s Most Convenient Bank 1:
• In the US, TD Bank has total deposits of $334 billion and a loan-to-deposit ratio of 58% as of 12/31/23.
• TD Bank prudently manages its balance sheet and financial resources, with a focus on maintaining sufficient liquidity and capital to helpit withstand stress.
• TD Bank is subject to the Liquidity Coverage Ratio Rules (LCR Rule) of the Federal Reserve and the Office of the Comptroller of the Currency
(OCC), which set minimum standards to ensure banks maintain adequate liquidity under a 30-day period of stress.
o TD Bank consistently exceeds the LCR 100% regulatory minimum: In Q4 2023, TD Bank had an average LCR of 117.8%, with average weighted
eligible High Quality Liquid Assets (“HQLA”) of $86.4 billion of which $71.5 billion (~83%) was comprised of Level 1 assets in the form of cash and
highly liquid securities (e.g., U.S. Treasury securities and other government-guaranteed investment securities) that can be converted into cash during
a period of stress.
o For more information please view the TD Bank LCR Disclosure and LCR Calculation.
•TD Bank is subject to the Net Stable Funding Ratio Rules (NSFR Rule) of the Federal Reserve and the Office of the Comptroller of the Currency
(OCC), which sets minimum standards designed to ensure that banking organizations maintain adequate levels of stable funding over a 1‐year period.
o TD Bank consistently exceeds the 100% regulatory minimum: In Q4 2023, TD Bank had an average NSFR of 104.08%, with average weighted
eligible Available Stable Funding (“ASF”) of $280.3 billion and Required Stable Funding (“RSF”) of $269.3 billion.
o For more information, please view the most recent TD Bank NSFR Disclosure and NSFR Calculation.
•TD Bank is required by the Federal Reserve to complete an annual Dodd-Frank Act Stress Test to ensure the bank is sufficiently capitalized in
times of severe stress.
o TD Bank consistently exceeds the regulatory minimum of 7%. In Q4 2023, TD Bank had a Common Equity Tier 1 (“CET1”) ratio of 17.06%, which
equates to excess capital of $27.2 billion over the regulatory minimum.
• TD Bank maintains a suite of contingency plans articulating the actions that can be taken to generate additional liquidity and/or capital when
contemplating a stress event.
TD Bank is a member of TD Bank Group (TDBG) and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada.
TDBG Key Facts:
• Second largest bank in Canada by assets.
• Global Systemically Important Bank (G-SIB), which means that it is held to a higher regulatory standard and has higher capital requirements
and more stringent stress tests.
• Historically maintained a stable balance sheet that is not overly invested in long-term assets, which facilitates liquidity.
• TD’s investment portfolio as a percentage of assets is 18%, which includes significantly higher deposits than loans, which facilitates liquidity.
• TD has industry-leading credit ratings. TD is rated Aa1 by Moody’s Long-Term Deposits Ratings and Counterparty Risk Rating, AA- by S&P’s
Issuer Credit Rating, AA by Fitch’s Long-Term Deposits Rating and AA (high) by DBRS’ Long-Term Issuer Rating
• For more information, please view Credit Ratings for TD and TD Subsidiaries Information.
•View our most recent financial reports, regulatory disclosures and investor presentation here.
As a global financial institution and G-SIB, TD Bank Group and TD Bank, America’s Most Convenient Bank, must adhere to strict regulations both in the United States as well as Canada.
“Our bank – your bank – is one of the strongest in the world with ample liquidity, and a robust capital position – both critical measures of a successful Bank.” -- Bharat Masrani, TDBG President and CEO, 2024 Shareholder Address
1 Refers to TDGUS; OCC governs the subsidiary banks.Proposed by: TD Bank, N.A.Page 13
1 The financial data referenced is based on publicly disclosed financial information available on our website or via publicly available regulatory information, such as Call Reports and
Y-9C Reports.
TDGUS:
• TD Group US Holdings LLC (“TDGUS”) is TD’s top-tier U.S. bank holding company and “Intermediate Holding Company” (IHC) under Regulation
YY of the Board of Governors of the Federal Reserve System (Federal Reserve).
LCR:
• TDGUS is subject, on a consolidated basis, to the Liquidity Coverage Ratio Rule (LCR Rule) of the Federal Reserve, and its U.S. banking
subsidiaries, TD Bank, N.A. (TDBNA) and TD Bank USA, N.A. (TDBUSA), are each subject on a consolidated basis to the LCR Rule of the Office of
the Comptroller of the Currency (OCC).
• The LCR Rule sets forth minimum liquidity standards designed to ensure that banking organizations maintain adequate liquidity under a 30
calendar day period of stress.
• For calendar Q4 2023, TDGUS had an average LCR of 117.8%, with average weighted eligible High Quality Liquid Assets (“HQLA”) of $86.4 billion
and net cash outflows of $73.3 billion. The Company continues to maintain a stable average LCR above the regulatory minimum of 100%.
• For more information, please view the Quarterly Disclosure.
NSFR:
• TDGUS is subject, on a consolidated basis, to the Net Stable Funding Ratio Rule (NSFR Rule) of the Federal Reserve, and its U.S. banking
subsidiaries, TD Bank, N.A. (TDBNA) and TD Bank USA, N.A. (TDBUSA), are each subject on a consolidated basis to the NSFR Rule of the Office
of the Comptroller of the Currency (OCC).
• The NSFR Rule sets forth minimum standards designed to ensure that banking organizations maintain adequate levels of stable funding over
a 1‐year period.
• For calendar Q4 2023, TDGUS had an average NSFR of 104.08%, with average weighted eligible Available Stable Funding (“ASF”) of $280.3
billion and Required Stable Funding (“RSF”) of $269.3 billion. The Company continues to maintain a stable average NSFR above the regulatory
minimum of 100%.
• For more information, please view the Quarterly Disclosure.
Capital:
• TD Bank is required by the Federal Reserve to complete an annual Dodd-Frank Act Stress Test to ensure the bank is sufficiently capitalized in
times of severe stress.
• As of Q4 2023, TDGUS had a Common Equity Tier 1 (“CET1”) ratio of 17.06% vs. a regulatory minimum of 7%. This equates to excess capital of
$27.2 billion over the regulatory minimum.
• This is pulled from the FRY-9C.
Contingency Planning:
• TDGUS maintains liquidity and capital contingency plans and actions to manage through both liquidity and capital stresses.
Proposed by: TD Bank, N.A.Page 14
Personal Experience and Qualifications
4. Personnel Experience and Qualifications
Provide an explanation of why the Proposer is the best qualified to perform the contract
and demonstrate its qualifications including an item-by-item disclosure outlining how the
firm meets or exceeds the requirements of this RFP. The proposal should give a
description of the firm, including the size, range of activities, etc. and emphasize how the
firm-wide experience and expertise in this type of project will be brought to bear on the
proposed project.
Include organizational chart with local, district, and corporate levels for Proposer.
Describe how the organizational structure will ensure orderly communications,
distribution of information, effective coordination of activities, resource management,
accountability, and decision-making authority. Describe the designated team
representatives who are technically competent to assist the College in all activities
associated with the service and maintenance of this account.
The composition of the team should include:
The names of the employees in the area responsible for this contract
Their function in the company
The name of the person who will be responsible for the coordination of work
through to implementation.
TD Bank prides itself on creating positive banking experiences for our clients.
The TD Bank team is here to help and will continue to deliver best-in-class
service to the City while working to better the communities where we collectively
live and work. TD Bank realized years ago that Government entities have unique
needs and require a higher level of client service. In addition, TD Bank
recognized that many of these entities had to comply with numerous statutes
that dictated how they conducted their financial affairs.
In order to meet these needs, Government Banking was developed. Our
Relationship Management Team is well-versed in public finance and how to
structure accounts and treasury management solutions that provide cost
savings, maximize interest earnings, and simplify the way our municipal clients
conduct business. Careful attention is paid to the details that matter, and our
Government Bankers will provide on-going support to the City's staff members.
Periodic relationship reviews will be conducted to ensure that the City has the
appropriate products and services and to keep staff abreast of new technologies
and innovations in treasury management and other new services offered by the
bank.
Proposed by: TD Bank, N.A.Page 15
Personal Experience and Qualifications
Pamela Ramkalawan, will serve as the City's primary contact. Pamela
Ramkalawan will anchor all of the City's banking and service activities. Together
with your assigned Relationship Management Team, Pamela Ramkalawan
would be involved with all aspects of your banking relationship and be available
to provide consultative assistance. The City's Relationship Manager accepts
responsibility for every aspect of servicing the City's accounts. TD Bank’s
Relationship Managers are available 24 hours a day, seven days a week, by cell
phone or email and are available to meet at the City's convenience.
The City can contact any member of its relationship management team at any
time. This team, in addition to providing consultative advice and product
recommendations, is charged with ensuring that the City's service needs are
met and exceeded. TD Bank prides itself on the service accountabilities for all
its employees. Providing multiple service points are just one of the many ways
TD Bank provides its clients with the legendary service that has become the
Bank’s hallmark.
TD Bank is pleased to introduce the City's dedicated Relationship Management
Team:
Government Banking
Pamela Ramkalawan
Vice President, Government Relationship Manager
5900 N. Andrews Ave., 2nd Floor
Ft. Lauderdale, FL 33309
Phone: (954) 233-2064
Cell: (561) 866-8368
Fax: (954) 233-2037
Email: Pamela.Ramkalawan@td.com
Pamela Ramkalawan will manage the City's relationship.
Ms. Ramkalawan has the necessary authority to carry out any tasks required to
effectively and efficiently manage the City's relationship with TD Bank. Ms.
Ramkalawan has over 24 years of banking experience exclusive to Florida of
which 22 years has been dedicated to Government Banking. The balance of her
banking career was in retail banking and operations. As a former Government
Banking Specialist at Wachovia Bank (currently Wells Fargo), Ms. Ramkalawan
was responsible for supporting many municipal relationships.
Ms. Ramkalawan supported some of Florida’s largest government entities
including Broward County, Broward County Public Schools, Palm Beach County,
Miami-Dade County, Broward County School Board and the Seminole Tribe of
Florida to name a few. Today, Ms. Ramkalawan manages many familiar
relationships in addition to the City of Lauderhill, City of Tamarac, City of Sunny
Isles Beach, City of Pembroke Pines, Miami-Dade Clerk of Courts and the
Housing Authority of Miami Beach, just to name a few.
Proposed by: TD Bank, N.A.Page 16
Personal Experience and Qualifications
Ms. Ramkalawan holds a BS degree in Business Management. She is also an
active member of TD Bank's diversity program where she is currently the
"Women in Leadership" chair for Florida.
She also participates in many local and state governmental organizations such
as the FGFOA, Florida League of Cities, Florida City and County Management
Association and many other professional organizations.
Ms. Ramkalawan will bring her unique qualifications and knowledge of account
structures, lending, treasury management services and other various services
to your banking relationship with TD Bank.
Tonya England
Assistant Vice President, Account Manager Government Banking
5900 N. Andrews Ave., 2nd Floor
Ft. Lauderdale, FL 33309
Phone: (954) 233-2054
Email: Tonya.England@td.com
Tonya England will be the City's dedicated servicing representative. Ms.
England will aid Ms. Ramkalawan with the daily management of the relationship.
Ms. England will bring her wealth of customer service experience and
coordination skills to the Broward Town's relationship.
Ms. England’s servicing skills were acquired over a period of 15 years in a
combination of the travel industry and 13 years in the banking industry, which
included training clientele and coordinating projects.
Ms. England is dedicated to ensuring that all TD customers receive the highest
level of customer service.
Treasury Management
Andrea Tyrell Grant
Vice President, Treasury Management Sales Officer
5900 N. Andrews Avenue, 2nd Floor
Ft. Lauderdale, Florida 33309
Phone: (954) 233-2048
E-Mail: Andrea.Tyrell-Grant@td.com
Andrea Tyrell Grant is TD Bank's Vice President and
Senior Treasury Management Sales Officer for the
Broward County, Palm Beach & Treasure Coast markets.
Andrea has over 35 years of banking experience and uses that experience to
grow the Treasury Management line of business, working across Commercial,
Middle Market, Government Banking and Commercial Real Estate segments.
Proposed by: TD Bank, N.A.Page 17
Personal Experience and Qualifications
Prior to joining TD Bank in 2009, Andrea began her career at Citibank where
she held positions of increasing responsibility in the retail segment before joining
the Commercial Banking Treasury Management team.
Andrea previously held Series 7, 24, 63 Securities and Life Health and Variable
Annuities licenses. Andrea possesses a wealth of knowledge about the South
Florida market, where she has worked and resided since 1981.
Andrea is a graduate of Miami Dade College and a board member of the South
Florida Association for Financial Professionals.
Susan Gibb
AVP, Sales Support Specialist II
2401 Ponce de Leon Boulevard
Coral Gables, FL 33134
Phone: (856) 437-3854
Cell: (609) 500-5024
Email: Susan.Gibb@td.com
Susan Gibb is the Treasury Management Sales
Support specialist supporting the Broward County
Market. Susan is responsible for the sale of Treasury Management products and
services as well maintaining portfolios of Treasury Management customers.
She started her career at TD Bank 15 years ago on the retail side holding serval
positions learning all of
the different aspects of banking. She is a graduate of Penn State University with
a degree in communications. Susan enjoys her time traveling and currently
resides in Coral Gables, FL with her husband and son.
Retail
Our TD Sunny Isles store, located less than 1 mile from the City's Government
Center , will serve as the primary location to service the Town's in-store banking
needs. This includes banking services for the Town's employees, providing
account needs, night depository, and serving as a local resource for the Town.
Store hours and location are provided below:
Store Location Lobby Hours Drive-Thru Hours
TD Sunny Isles store
16830 Collins Ave
Sunny Isles Beach, FL 33160
(305) 956-5770
Monday: 8:30 a.m. – 5:00 p.m. Monday: 8:30 a.m. – 5:00 p.m.
Tuesday: 8:30 a.m. – 5:00 p.m. Tuesday: 8:30 a.m. – 5:00 p.m.
Wednesday: 8:30 a.m. – 5:00 p.m. Wednesday: 8:30 a.m. – 5:00 p.m.
Thursday: 8:30 a.m. – 6:00 p.m. Thursday: 8:30 a.m. – 6:00 p.m.
Friday: 8:30 a.m. – 6:00 p.m. Friday: 8:30 a.m. – 6:00 p.m.
Saturday: 9:00 a.m. – 1:00 p.m. Saturday: 9:00 a.m. – 1:00 p.m.
Sunday: 11:00 a.m. - 02:00 p.m. Sunday: 11:00 a.m. - 02:00 p.m.
Proposed by: TD Bank, N.A.Page 18
Approach / Methodology
5. Approach / Methodology
Proposers approach methodology to providing the services requested in this solicitation,
including but not limited to:
Clearly describe the ability to perform the scope of services proposed including a
work plan, an explanation of methodology to be followed to perform the services
required of this proposal
Management Policies and Customer Service Structure
Overall organization to completing the project
Ability to meet desired timelines and deadlines
Submit any additional information that would assist the City in the evaluation on your
proposal.
Please refer to the following pages for TD's response to our approach/methodology
to the City's Scope of Services.
Proposed by: TD Bank, N.A.Page 19
Approach / Methodology
SECTION 3
SCOPE OF SERVICES / TECHNICAL SPECIFICATIONS
3.1 BACKGROUND
The City of Sunny Isles Beach is located on a barrier island in the northeast corner of Miami-Dade
County, bounded by the Atlantic Ocean on the east and the Intracoastal Waterway on the west.
The City has experienced a major redevelopment renaissance on the east side of Collins Avenue,
the main thoroughfare. To the west of Collins Avenue, the City is building parks, improving the
infrastructure, and laying the groundwork for future redevelopment. The City has a diverse
population of approximately 23,000 residents and almost one million vacationers visit Sunny Isles
Beach annually.
TD Bank acknowledges the above.
3.2 SCOPE OF SERVICES
The purpose of this Request for Proposal is to contract with a single bank that can offer the highest
quality of service at the lowest cost to the taxpayers. There are several services which are required
as part of this RFP. All services must be included in the proposal for it to be considered. It is the
intent of the City to select one financial institution to provide full banking services for all City
funds. The list below is a general overview and may not be all inclusive of the City’s banking
services required. In addition, where applicable, the City has indicated new or additional services
it will consider.
The City currently has nine (9) merchant accounts with TD Bank.
General Overview of Banking Services
Operating Account Automated Clearing House (ACH)
Accounts Payable Account (ZBA) Wire / Funds Transfers
Payroll Account (ZBA) Information Reporting
Merchant Services Account (ZBA) Account Reconciliation
Money Market Account Return Items
Online Banking/Treasury Management Positive Pay
Online Retrieval of Check and Deposit Images Remote Deposit Capture
Business credit cards Electronic vendor payments (e-payables)
TD Bank acknowledges the above and will be able to continue meeting the City's Treasury
Management and depository service needs.
Proposed by: TD Bank, N.A.Page 20
Approach / Methodology
A. Detailed Requirements
1. Online Account Access
The bank shall provide a secure, web-based solution that will allow the City online
access to all City bank accounts. The system will enable the City user to communicate
with the bank, download and archive information, provide daily reporting, facilitate
viewing and printing of the front and back of cleared checks, deposit slips, individual
deposit items, etc., execute online stop payments, perform wire transfers, and access
detailed ACH information. Preferably, all activities should be done on one central
online website. If not, please submit a list of the different online sites they use for
each service type (i.e., fraud control, online treasury, ACH control, deposits, etc.) The
City currently utilizes an internet-based treasury management system to view and
print daily balances and detailed transactions for its accounts. The City wishes to
continue utilizing this type of treasury management system. The treasury
management system will also allow for user security levels to be set up by a system
administrator to access its features.
The bank must have the ability to provide the City with access to online balance and
account activity reporting with the following minimum prior day and current day
information:
a. Closing ledger balance
b. Collected balance
c. One (1) day float
d. Two (2) days float
e. Total credits
f. Number of credits
g. Total debits
h. Number of debits
i. Opening ledger balance
j. Opening available balance
k. Current available balance
Individual activity amounts and descriptions to include, but not limited to, the
following:
i. Deposits
ii. Wire transfers (incoming and outgoing)
iii. ACH transfers (incoming and outgoing)
iv. Internal Bank account transfers
v. Other bank credits and charges
vi. Individual check amounts paid along with corresponding check numbers
and date cleared.
Proposed by: TD Bank, N.A.Page 21
Approach / Methodology
TD Bank has the privilege of being the incumbent service provider for the City. This
represents business as usual to the City without any disruption to your daily
banking needs. Below is an overview of TD eTreasury which provides online
information reporting and payment initiation for the City. This web-based tool offers
features that will enable the City to efficiently manage its business online 24 hours
a day, seven days a week.
TD eTreasury deploys the latest technology to simplify and enhance your online
banking experience. This web-based tool provides immediate access to account
information 24 hours a day, seven days a week.
• Real-Time Balance and Transaction Reporting with 365 Days of Online
History
• 7-year archive of Paid Check, Deposit Tickets, Deposited Items,
Debit/Credit Memos, and Return Item Images Available
• Detailed Incoming Wire and ACH Reporting
• Real-Time Stop Payments
• Online Statements (Bank Statements and Analysis Statements)
• Automated Email Report Delivery (additional fees apply)
• Custom Reports – create and export ad hoc reports in addition to standard
offerings
• Advanced Search Features - utilize flexible sorting and filtering to easily
locate transactions
Payment Initiation Services
• Domestic and International Wires with Real-Time Foreign Exchange Rates
• ACH Payments including Direct Deposits, Pre-Authorized Debits,
Corporate Payments and International ACH
• Real-Time Transfers between Accounts including Loan Payments and
Advances
Fraud Protection and Security
• Positive Pay Reporting with Online-Decision Making
• Token Security with Encryption and Authentication
• User Entitlement by Function, Account and Dollar Amount for Payments
and Administrative Functions
• Comprehensive Audit Reporting
Customized Features
• eLearning – simplify training with "Show Me" and "Let Me Try" features
• Alerts and Reminders – receive notification of important events
• Personalized Dashboard – easily enhance your banking experience using
widgets
Proposed by: TD Bank, N.A.Page 22
Approach / Methodology
2. Other
a. The City has Edmunds & Associates MCSJ financial systems management software
package. The successful bank shall demonstrate past experience with integrating
with the Edmunds system or a comparable system in the following ways:
i. Electronic processing of Positive Pay files
ii. Electronic processing of check reconciliation files
iii. Export and import of ACH electronic payment files
b. The demonstrated experience must include accepted Edmunds MCSJ accepted file
layouts, statement showing banking systems accept standard Edmunds exports,
and listing of previous customers using banking services with Edmunds MCSJ
system or a comparable system in each instance.
TD Bank has the privilege of being the incumbent service provider for the City. This
represents business as usual to the City without any disruption to your daily banking
needs. In the event the City wishes to add additional treasury management
services, your Relationship Management Team will work closely with you to ensure
a smooth and seamless implementation as well as delivering our promise of
legendary customer service.
TD Bank can support all financial accounting systems. We have numerous clients
in our portfolio for which we have provided customized solutions for unique financial
accounting systems and technical requirements.
If required by the City, TD Bank's Implementation Team will bring a solution based
approach, and work with the City to meet any system or technical specifications
both new and current.
B. Bank Accounts
The City currently maintains one operating account (depository), a secondary merchant
account, one money market account and two (2) zero balance (ZBA) accounts.
1. Operating Account
a. This account is used for check and cash deposits and other activity to include,
but not limited to, incoming and outgoing wire transfers, incoming and outgoing
ACH transactions, and other electronic credits and debits. It’s also used for any
return item charge backs. This is the main account to which the zero balance
accounts are linked.
b. The proposer will provide the interest rate offer for this account as well as
discuss any other options to gain a higher yield with limitations governing those
options such as maximum monthly withdrawals, minimum balances to be
maintained, etc.
Proposed by: TD Bank, N.A.Page 23
Approach / Methodology
c. The proposer will describe its process for FDIC charges and whether the
proposer plans on passing these fees to the City.
TD Bank has the privilege of being the incumbent service provider for the City. This
represents business as usual to the City without any disruption to your daily banking
needs. In the event the City wishes to add additional treasury management
services, your Relationship Management Team will work closely with you to ensure
a smooth and seamless implementation as well as delivering our promise of
legendary customer service.
TD Bank will not charge the City an FDIC fee.
Please refer to Pricing and Fees section for full cost details.
2. Secondary account – Merchant
This account is used for credit card deposits only. The City currently has nine (9)
merchant accounts all held with TD Bank.
TD Bank has the privilege of being the incumbent service provider for the City.
This represents business as usual to the City without any disruption to your
daily banking needs. Below is an overview of TD Merchant services.
TD Bank Merchant Solutions
TD Bank Merchant Solutions is a full-service Merchant Acquiring provider with
a team of subject matter resources specializing in payment processing. We are
a sponsor bank and have relationships with all major card and debit networks
(i.e., Visa, MasterCard, Discover, AMEX). TD Bank Merchant Solutions utilizes
Fiserv: which enables us to leverage the infrastructure of one of the largest
processors; accessing multiple processing options, card acceptance solutions
and high-performance standards. TD Merchant Solutions also works with
different hardware vendors and PCI Compliance partners, providing us with
access to new product development insight, leading qualified security
awareness and subject matter experts.
Determining the best solutions to meet your card processing needs is important
to us. Backed by the strength and stability of a top-10 U.S. bank, we take a
relationship-centric approach with our clients to get to know and understand
your business's unique needs.
TD Bank Merchant Solutions enables you to rapidly accept credit and debit
cards from all major carriers and networks, across a host of advanced point-of-
sale (POS) devices and online platforms.
Proposed by: TD Bank, N.A.Page 24
Approach / Methodology
Advantages of TD's Merchant Solutions Processing
• Improve your cash flow with the availability of next-business-day
funding to your TD Bank Business Checking Account
• Easily generate customized, detailed reports with data available by
location through access to ClientLine, our online reporting dashboard
• Resolve chargebacks and receive dispute updates electronically
through Dispute Manager
• Simplify Payment Card Industry Data Security Standard (PCI DSS)
compliance requirements through our partnership with Security Metrics
• Accepted Payment Solutions
• Most common Credit and Debit card networks accepted, including:
Visa®, MasterCard®, American Express®, Discover®, Star®,
Interlink®, NYCE®, and more
• We are able to integrate to industry leading payment solutions,
delivering seamless payment processing, reporting and chargeback
management
• TD Bank Merchant Solutions offers the latest in contactless technology
enabling payments through the use of mobile devices, including Apple
Pay and Google Pay.
3. Money Market Account
This account is used for a small percentage of deposits of excess cash, and it is an
interest-bearing account. The proposer will advise of the money market interest rate
and any additional options to maximize interest earnings.
TD Bank has the privilege of being the incumbent service provider for the City
and will continue to provide a Money Market Account.
4. Zero balance account – Accounts Payable
This account is used solely for all check payments to vendors. The funds are swept into
or out of this account to or from the Operating account.
TD Bank has the privilege of being the incumbent service provider for the City
and will continue to provide a Zero Balance Account for Accounts Payable.
5. Zero balance account – Payroll
This account is used solely to process payroll disbursements to employees. The funds
are swept into or out of this account to or from the Operating account.
TD Bank has the privilege of being the incumbent service provider for the City
and will continue to provide a Zero Balance Account for Payroll.
Proposed by: TD Bank, N.A.Page 25
Approach / Methodology
The City reserves the right to open additional accounts during the contract period. Proposers must
indicate documents required to open a new account.
In the event the City wishes to open additional accounts, your Relationship Management
Team will work closely with you to ensure a smooth and seamless process as well as
delivering our promise of legendary customer service.
C. Availability of Funds
The Awarded Bank agrees to credit the City’s Operating Account for Incoming EFT’s the same
day regardless of the time of receipt during the day.
The City will receive immediate availability on electronic deposits and wire transfers
on the business day we receive the deposit.
D. Deposit Processing and Remote Deposit Capture
1. The bank will provide the ability to deposit checks using remote deposit capture. A
check scanner and appropriate software will be provided to the City to digitally
capture the check images for deposit. The deposit will be balanced, and an electronic
deposit slip created. The file would then be transmitted to the bank through a secure
website for posting to the City’s operating account. Proposer shall describe its remote
deposit capture services to include related costs to the City.
TD Bank has the privilege of being the incumbent service provider for the City.
This represents business as usual to the City without any disruption to your
daily banking needs. Below is an overview of TD Digital Express.
TD Digital Express
TD Bank offers the ability to process checks by Remote Deposit Capture (RDC)
using our TD Digital Express solution. With TD Digital Express, you have the
flexibility to scan your checks and transmit your deposits from the convenience
of your office and beyond traditional banking hours. Some of the features of
TD Digital Express include:
• History retention of 45 days
• TD eTreasury offers 365 days of Images
• Optional seven-year image archive through TD eTreasury
• Export capability of standard reports in CSV and PDF formats
• Unlimited number of accounts per entity
• Virtual endorsement on checks
• System availability 24-hours a day, seven days a week
• Same-day credit on deposits received up until 9:00 p.m. ET with next
day availability.
• Multiple scanners to choose from based on volume
Proposed by: TD Bank, N.A.Page 26
Approach / Methodology
2. The Proposer will specify the requirements for depositing checks and currency along
with its availability schedule for deposited items: cash, in-state checks, out-of-state
checks, foreign checks, etc. The bank will allow deposits with an attached breakdown
of individual checks rather than itemizing each check on the deposit slip.
TD Bank maintains a unique availability policy. There are no complicated
availability schedules and no special pricing tables. TD Bank will notify the City
of any change in funds availability policies.
We credit deposits as processed with next day availability. TD Bank gives
immediate (same day) availability for cash and checks drawn on TD Bank when
deposited at a store location before 8:00 p.m. ET. For all other checks
deposited before 8:00 p.m. ET at a store location, the City will receive $100.00
credit the day of the deposit and the remainder of the deposit is generally
available to you no later than the next business day.
E. Foreign Check Deposits
The City receives Canadian and other foreign checks for payment of building permits
and other services. Canadian and foreign checks will be deposited in U.S. dollars on
the day of deposit. A foreign exchange adjustment will not be permitted.
Availability of foreign check deposits is as follows:
Canadian Checks – Next day availability for all items under $5,000.00 to be
converted at the prevailing spot rate if made before 8:00 p.m. ET at a store
location. Regular deposit fee applies. Checks over $5,000.00 will be sent to the
foreign check collection department with an estimated 6 – 8 week timeframe
for funds availability.
All Other Checks – Checks drawn on any other country will be sent to the
foreign check collection department. For checks under $2,500 USD, the funds
will generally be made available within 3 – 5 business day of the receipt by the
check collection department. For items greater than $2,500 USD, checks will
be sent to collections with an estimated 6 – 8 week timeframe for funds
availability. A fee of $17.50 will apply for all items regardless of the amount.
US Funds – Checks written in USD on any foreign bank except for Canada,
the 6 – 8 week time frame for availability applies. A $17.50 fee will be applied
by TD Bank for these items. Additional fees may be charged by the
correspondent bank. TD Bank is unable to determine the amount of the fee
charged by the correspondent bank.
Proposed by: TD Bank, N.A.Page 27
Approach / Methodology
F. Cashing Petty Cash Checks
The bank will cash petty cash checks at no charge to the City or employee cashing the
check. The bank will require that the employee present a current City issued
identification card to cash petty cash checks.
TD Bank is able to meet the requirement above.
G. Information Reporting
1. The Proposer shall describe the types of information reporting their internet-based
treasury management system provides (i.e. cash balances, ACH debits and credits,
wire transfers, reconciliation, positive pay decisions, stop payments, account activity,
etc.).
TD eTreasury provides efficient features for immediate access to account
information. Through our online platform, items are processed in real-time and
post to your account at the time they are presented.
TD eTreasury will provide the City real-time balance reporting and is constantly
updated throughout the day. The Information Reporting module provides
account number, account name, ledger date, view details, opening available
balance, one day float, total debit amount, total credit amount and closing
ledger balance. Under "View Details", you will be able to view all account
transactions including BAI code, SWIFT code, transaction description,
transaction detail, amount, debit/credit indicator, bank reference, customer
reference and images (deposit ticket, deposited items and checks paid).
The following reports are available through TD eTreasury: Incoming ACH
Details, Multi-Day Statement, Wire Confirmation Summary, Wire Confirmation
Detail, Controlled Disbursement Detail, Controlled Disbursement Summary,
ACH Detail, ACH Summary, Current Day Combination, Current Day Detail New
Items, Current Day Detail, Current Day Summary, Paid Check, Prior Day Detail
No Check, Prior Day Combination, Prior Day Detail, Prior Day Summary and
many more customizable reports. TD eTreasury does have an automated
report delivery feature that allows reports within eTreasury to be e-mailed to
anyone within the organization.
2. The Proposer will provide details regarding how far back data is warehoused, how
many business days the data is stored in the reporting system and available for the
City to access for the types of data listed above.
Our TD eTreasury system offers 365-day storage of detailed banking history
for all of the City's accounts including balances, transactions, images of all paid
checks, deposit items, deposit tickets, and returned items organized by date
and by account. Search fields also include transaction type, dollar amount,
dollar range, bank/customer reference, serial number, date, and date range. In
addition, you will also be able to review the full amount and source of all ACH
and wire transactions when they post to your account.
Proposed by: TD Bank, N.A.Page 28