Transcript BANKING SERVICES What’s available? How to decide what your City Needs Presented by: Carol Donlon Tisha Mar Scott Shannon.

BANKING SERVICES
What’s available?
How to decide what
your City Needs
Presented by:
Carol Donlon
Tisha Mar
Scott Shannon
OVERVIEW
Collection Solutions
– Carol Donlon, Union Bank of
California
Disbursement Solutions
– Tisha Mar, Wells Fargo Bank
Information Reporting & Fraud
Prevention
– Scott Shannon, U.S. Bank
COLLECTIONS
• LOCK BOX
– Automated high volume
processing
– Customized low/moderate
volume processing
• CONSUMER HOME BANKING
REMITTANCES
– Bill Consolidator Options
COLLECTIONS
• ACH (Automated Clearing House)
– Electronic Debits for recurring or
one time payments
• E-Payment Alternatives
– Empowered Web Site
• E-Checks
• Credit Cards
COLLECTIONS
• DEPOSITS
– Branch locations
• Walk-In Deposits
– Cash Vault Processing
• Armored Car Deposits
DISBURSEMENTS
• WIRE TRANSFERS
– Same Day Payments
– Security Features
• ACH (Automated Clearing House)
– Low Cost Alternative to Wire Transfers
– Security Features
– Direct Deposit, Expense
Reimbursements, Vendor Payments,
Tax Remittances
DISBURSEMENTS
• CONTROLLED DISBURSEMENT
– Cash Position Tool
• RECONCILEMENT
– Full (Bank reconciles account)
– Partial (Bank provides data/reports to
reconcile)
– Paid Check Images (CD-Rom and OnLine)
INFORMATION
• INFORMATION REPORTING
– Secure access to account data
• Web, Software, Dial-Up
• Balances, Stops, Transaction Details
• Printed Reports
• Download files in CSV or BAI formats
• ZERO BALANCE ACCOUNTS
– Automated funding in net or
separate settlements
FRAUD PREVENTION
• POSITIVE PAY
– Customer provides check issues
electronically
– Bank matches items as they come in
for payment or at teller window
– Exception Items delivered each
morning
• Web, Fax, Information Reporting
– Pay/No Pay decision made by customer
– Payee verification on horizon
FRAUD PREVENTION
• REVERSE POSITIVE PAY
– Paid Check listing delivered each day
– Customer makes comparison and
pay/no pay decision
• ACH BLOCKS/FILTERS
– Customer determines acceptable
activity
– ACH Positive Pay on the horizon