U.S. NATIONAL BANK (US BANK) 11/4/2015

item paid, and overdraft interest assessed based on the amount of the overdraft and number of days based on a rate of U.S. Bank's prime rate plus 4.0%, currently 7.25%. Typically in the event of an overdraft the City will receive a morning phone call to advise of the overdraft and a request for funding. 5. Other Required Services • Provide positive pay service. U.S. Bank Positive Pay Services help detect check fraud by electronically matching checks that are presented for payment to the checks you have issued. SinglePoint Positive Pay provides the tools to review exceptions, view images, make payment decisions, request adjustments and access history online. • We offer two types of exception review: Previous Day and Same Day. o With the Previous Day service you can review exceptions for the previous day's checks after they have posted. o For Controlled Disbursement accounts, the Same Day service allows the City to review exceptions for the current day's checks before they are posted. The City can decide whether to return items and request adjustments to correct the checks before they are posted to your account. • Take action on mismatches between issues and presented checks to help prevent fraud—Each day, U.S. Bank updates your exceptions list with mismatches between presented and issued checks. Review Positive Pay exceptions on multiple accounts at the same time. Exception items include checks that have been converted to ACH items. • Review exceptions and make payment decisions online—City personnel can decision each exception from the list and submit to the bank in a matter of seconds. Online decisions can include adjustments to an item's dollar amount and/or check number, and automatic creation of updated issue information. • View an exception item image online—The City can link directly from the exception list to the corresponding check image. View and manipulate the image. Decision from the image viewer. • Reduce check fraud at teller window—SinglePoint Positive Pay includes Teller Positive Pay. At a U.S. Bank teller line, the check amount, check number and payee name (if provided) are matched to the data on your issue file. Mismatches are returned to the presenter. We highly recommend you include payee names on your issue file as an added layer of check fraud prevention. City of Everett Banking Service Requirements 135 Banking Services Proposal