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Proposal tar the City of Santa Ana
<br />JYMorcran
<br />Please refer to the pricing portion of this response for any information pertaining to cost or fees.
<br />Note: J.P. Morgan does not distinguish between high and low volume.
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<br />J.P. Morgan retains physical checks for 30 days before they are destroyed. Items are stored in-
<br />house for three (3) to five (5) days, depending on the site, and then sent off site.
<br />With the growth of Image Replacement Documents and image exchange, the payer bank no
<br />longer always receives the original check back. J.P, Morgan receives over 95% of our inclearings
<br />as electronic files, so few original checks or image replacement documents are available for
<br />J.P. Morgan to store. The bank retains electronic copies of paid items for seven (7) years.
<br />Reconciliation Suite of Services
<br />J.P. Morgan offers a full suite of reconciliation services, including full, partial and deposit
<br />reconciliation.
<br />Full Reconciliation
<br />Pull Reconciliation is the most comprehensive service, providing details of paid, stopped,
<br />canceled and outstanding items. Information and reports are available online, as well as via data
<br />transmission, CD -ROM and paper.
<br />Partial Reconciliation
<br />Partial Reconciliation provides clients with details of their paid, stopped and canceled items.
<br />Information and reports are available online, as well as via direct transmission, CD -ROM and
<br />paper.
<br />Doposit Reconciliation
<br />Deposit Reconciliation provides a deposit detail report and a summary report totaling deposits by
<br />location for a predetermined length of time.
<br />The City can use deposit reconciliation to retrieve a detailed listing of deposits by location or
<br />department. J.P. Morgan assigns Unique Location Identification Numbers ( "ULID ") within an
<br />account to segregate deposits by location or department. These codes are printed on the deposit
<br />slips. Transactions can be queried and sorted by ULID for reporting purposes in J.P. Morgan
<br />ACCESS.
<br />The reconcilement of deposits by ULID number enables the City to use a single account for all
<br />entities. In this way, the City is able to minimize account fees and retain the accessibility of totals
<br />by department, while saving time and reducing the expense associated with reconciling multiple
<br />statements.
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