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

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One important feature of our system is the ability to group designated accounts together into a single relationship for intraday credit purposes. This provides for the release of payments when the total balance and intraday limit in your grouped accounts is sufficient. The bank does not charge for intraday or "daylight" overdrafts. 2. Will the Bank guarantee that all items drawn on City accounts be paid regardless of the balance in the funding account? Please be comprehensive in your response. J.P. Morgan cannot guarantee that all items drawn on City account be paid regardless of the balance in the funding account. If an overdraft situation exists, then we will notify the City to fund the account as soon as possible. J.P. Morgan is willing to accommodate end of day items presented for payment on a case -by- case basis. We look forward to working with the City to further understand your needs. G. Full Account Reconciliation. The City utilizes full account reconcilement services for the General Demand Deposit account and the Jail Commissary account. The City transmits "checks Issued" information to the Bank daily utilizing its current banking system. The Bank provides a daily detailed report, by account, of checks paid, and a monthly detailed report of checks outstanding. A paid check File is transmitted to the City on a daily basis via secure transmission. Paid checks are also imaged and provided on a monthly compact disc (CD). The Bank must provide electronic monthly account reconcilement reports, bank statements, account analysis statements, confirmations, and other report related features. From the Pooled Account City currently issues approximately 1,570 checks monthly. In addition, City issues 130 checks monthly from the Commissary Account. In addition, the Bank must be able to provide full account reconciliation services and positive pay check protection services for both the City's pooled account and the Commissary account. 1. Describe the account reconciliation services offered by the Bank. J.P. Morgan will continue to offer the City a complete reconciliation of outstanding and paid checks with the option of reconciling accounts by the week, month, fiscal or calendar year in a format tailored to meet your needs. You provide us with detailed check issue data, including account numbers, check numbers, issue dates, dollar amounts and reference information (up to rg bytes). The City chooses how you wish to supply this data: in a file transmission or by upload or manual key entry to J.P. Morgan ACCESS Online (ACCESS Online), as warranted by the check activity in each account. Page 47 JYMorgan