Escrow_Investment_Disbursement_Services_-_Attachment_1__Request_for_Proposal_Questionnaire.doc

(Attachment 1)

Request for Proposal Questionnaire Background

1. Do you offer controlled disbursing? If so, how long have these services been available?

Yes__________ No__________ # of years_____________

2. How many controlled disbursing sites to you maintain?_____________________

· For each site, please provide the name and location of the institution that appears on the check and its transit routing code. Please indicate if this is a city point, RCPC or county point. Also, indicate if it is an affiliate, correspondent, branch, main office, etc.

3. Please provide the number of active customers to whom you provide controlled disbursing services and the total number of accounts used by those customers.

Customers______________________ # of Accounts__________________

4. What is the average daily volume for your largest controlled disbursing customer?

Average Daily $__________________ Average Daily Items_____________

5. What is the average daily total dollars and total items processed at your controlled disbursing site?

Average Daily $__________________ Average Daily Items_____________ Presentment Policies

1. How many presentments are made daily at your controlled disbursement site?____

2. What is the latest an item can be presented and still be charged to the USDA – RD bank account on the current day?

Processing Policies

1. Where is the processing of disbursement items handled?____________________

2. Are accounting and reconcilement functions performed on site?

Yes___________________________ No___________________________

3. How long does it take you on average to process the checks presented for your controlled disbursement customers?_____________________________________

4. What back-up arrangement exist in case of system failures?__________________

How and when are the back-up arrangements tested?_______________________

Has it ever been necessary to actually utilize the back-up arrangements? If yes please explain.______________________________________________________

5. Are any outside service bureaus used for any portion of your controlled disbursement services?

Yes___________________________ No___________________________

If yes, please identify the service provided._______________________________

6. Do you have an established maximum dollar value limit that may not be exceeded by an individual check?

Yes___________ No__________ Maximum $ Amount_____________

Is this a bank restriction or one mandated by the Federal Reserve?_____________

7. Do you verify signatures?

If yes, please supply bank’s guidelines.

Notification Policies

1. What is your average daily presentment notification time?

1st Presentment__________________ 2nd Presentment_________________

2. What notification methods are available to your controlled disbursement customers?

Telephone_____Automated Balance Reporting_____ Other_________________

3. What type of detail is available in the same day notification?

Total $______

Total Items________ Check Detail_______ Other_______

4. Does notification of daily clearing include both check and ACH debits?

Disbursement Policies

1. Do you offer both full and partial Account Reconciliation Services (ARS) to your controlled disbursement customers?

2. Can you guarantee nightly update of our end-of-day check issuance file transmission?

3. Do you offer a service whereby you compare checks presented against a daily issue file (positive pay)?

Yes___________________________

4. Do you offer the following service options?

YES

NO

Data Transmission

Check Retention or Destruction

Immediate Confirmation of Stop Payments

Automated Balance Reporting

Image Viewing of Checks

CD-Rom Check Download

5. What is your normal statement cut-off date?______________________________ How soon after the cut-off date would USDA – RD receive the bank statements?

6. Does your bank offer “on-line” (terminal entry) stop payment capabilities?

Yes___________________________ No___________________________

7. Do you check for “stale date” checks?

Yes___________________________ No___________________________

8. Do you offer “on-line” inquiry and reporting?

Yes___________________________ No___________________________

9. Are “on-line” services encrypted and authenticated?

Yes___________________________ No___________________________

10. Will you provide back-up and an explanation of all credit/debit memo charges?

Yes___________________________ No___________________________

Please provide sample account reconciliations and account statements. Explain any additional controlled disbursement services that you offer.

Miscellaneous

1. Has the Federal Reserve introduced any policies or issued any statements in the last year which might impact either your bank’s ability to provide controlled disbursements or the benefits of this service to its users?

2. What sets your bank’s controlled disbursement services apart from your competition that provides a similar product or service.