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Approach / Methodology Q.PositivePay The bank will provide Positive Pay to ensure the City’s protection and security against fraud and theft. The City will transmit check files bi-weekly on Wednesdays for payroll disbursements and weekly on Fridays, or more frequently, if necessary, for accounts payable disbursements. The bank shall have the capability to accept an uploaded file from the City’s accounting system as well as manual entries into the Positive Pay software for checks issued during interim periods. The Proposer shall provide details of the bank’s process as it relates to this system and discuss alternative procedures should the City be unable to transmit the file electronically (i.e. during a disaster). The bank will contact the City via phone or email if the City has not provided instruction to pay or return a check prior to the Positive Pay cut-off deadline. The file that is sent to the bank includes the check date, check number, payee and amount. TD Bank has the privilege of being the incumbent service provider for the City. This represents business as usual to the City without any disruption to your daily banking needs. Below is an overview of our check Positive Pay service. TD Positive Pay TD Positive Pay is recommended for any account used for check clearing and is the best method for preventing check fraud. This value added service will mitigate risk and provide comfort and security for the City. Positive Pay compliments the internal security measures you employ to ensure that only authorized checks are paid. Through Positive Pay, in the event that a check paid does not match either the serial number or amount of the check issued, TD Bank will notify the City to make the decision to pay the check or return the check unpaid. You will receive information on exception items by 10:00 a.m. ET each business day. We ask that you review items and enter your pay or return decisions by 2:00 p.m. ET, which provides a four hour window for the review of exception items. We “push” our Positive Pay information directly to our teller platforms. If an item is presented at a teller window that was not on the issue file, or there is a variation of information (i.e., dollar amount), notification will be sent to the specified contact for a "pay" or "no pay" decision. The exception will be out on eTreasury, TD Bank’s state- of-the-art corporate online-banking system for information reporting and transaction initiation, for the City to make a decision. You also have the option to sign up for alerts. The teller line will be updated six times a day at: 9:30 a.m., 11:30 a.m., 1:30 p.m., 3:30 p.m., 4:30 p.m. ET, and overnight. The Bank’s deadline for the transmission of check issuance files to the Bank is 4:30 p.m. ET for same-day upload to the reconciliation system. Files received after 4:30 p.m. ET will be uploaded to the reconciliation system the morning of the next business day. All files received by 4:30 p.m. ET will be verified and effective against checks presented through all TD Bank Stores at the opening of business the next morning. Proposed by: TD Bank, N.A.Page 37