J.P. MORGAN CHASE BANK-2016 - Laserfiche WebLink

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2, In connection with check truncation services. How does the City receive copies of paid items? J.P. Morgan will continue to provide the City access to paid check images via ACCESS Online for seven years, even after an individual account has been closed. To maintain access to those archived images, the City is required to leave at least one account open for billing purposes. If a longer retention period is needed, the online check image archive can be expanded for up to ro years. The alternative for long -term storage of check images is establishing encrypted CD -ROM delivery. ii. How long does it take to obtain a copy of a paid check? With ACCESS Online, retrieval time is measured in seconds, compared with hours or even days for physical retrieval, and the quality of the reproduced image is extremely clear (see image example below) iii. Is this service available on -line? Yes, this service will continue to be provided via ACCESS Online, as described above. 5. How is the daily float calculated? What ways can the Bank offer to maximize availability of funds? The City will benefit from the same float availability schedule in use today for all accounts. The availability schedule determines availability for each item. Availability is based on the drawee bank routing /transit number, the time the deposit is processed, fractional float assignment and, in some instances, the dollar amount of the item. With one of the largest check - clearing networks in the country, the bank offers accelerated funds availability. J.P. Morgan clears more than 99% of all deposited checks as images through approximately 22,000 endpoints. Availability for on -us items and on -us controlled disbursement items vary by availability schedule. For specific details, please refer to Appendix 2 for the current availability schedules. Tage 42 J. 11 Mo r