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11. The Financial institution will confirm deposits (on returned deposit slip), including the deposit <br />amount composition (cash/checks). <br />B. Additional Checking Accounts <br />The financial institution will furnish the City with additional checking accounts as needed. Such accounts <br />will be provided with personalized and pre -numbered checks and deposit slips at no additional charge. <br />Fees for these accounts wilf be included in the total account analysis, with earnings credit given for <br />collected balances and itemized charges compensated fort oug collected a ance or fee payment through <br />the primal demand deposit checking account. No charges will be made directly to any of these special <br />accounts. <br />C. Automated Cash Management Services Via Internet <br />1. Wire and ACH Transfers <br />■ The financial, institution will provide the City with the ability to initiate wire and ACH <br />transfers via on-line banking. The online banking platform will require secure, separation <br />of duties for initiation and approval by City staff for all wire and ACH template creation <br />and funds transfers. <br />■ The banking institution will provide for instant wire transfer of funds and wireable <br />securities to any financial institution using the interbank and Fed wire systems for <br />investment purchases or sales and other transactions with commercial banks or brokerage <br />houses, including the State Investment Pool. <br />■ The financial institution will provide the ability to ascertain the status of both outgoing and <br />incoming wire transfers and to initiate future dated wires via on-line banking. <br />■ The City will receive credit. for incoming wire transfers as of the date received by the <br />financial institution. <br />■ The financial institution will provide daily detailed report on all transactions. <br />2. ACH Direct Deposit <br />The City pays a large portion of its employees via a direct deposit payroll program. This data will <br />be transmitted to the financial institution via the Internet. The City pays its employees bi-weekly <br />(every other Friday). The funds must be available to the employees at their respective banks at the <br />time of opening on the date of payment. <br />3. Electronic Federal Tax Deposit System <br />The financial institution will provide the ability for automatic withdrawal of payroll taxes by the <br />Internal Revenue Service (IRS). <br />T. Online Banking <br />The Financial institution will provide the City with access to Internet on -tine banking, which, at a <br />mimmun-i, v,17ill include the iollovvling capabilities: <br />