Account Statements and Reconciliation. At Client’s election, Bank will either provide to Client electronically through Bank’s Online Banking for Business Service (“OLBB”) or by mail periodic statements, notices, canceled checks, and other information regarding the Accounts and Account activity, including any activity resulting from Services. Client agrees to promptly examine each such statement, notice, canceled check, and other information (whether originals, images, copies, or in other formats) and to promptly notify Bank of any erroneous charges, payments, missing or incorrect deposits, credits, debits, or other entries to Accounts (“errors”) or other Account problems, including a forged or unauthorized signature or alteration, or unauthorized or missing endorsement, in accordance with the requirements and procedures, including time frames, provided in the applicable Account Agreement. If Client fails to notify Bank as described above, Bank will not be obligated to re-credit or refund the amount of the error or Account problem and Client will be precluded from asserting the error or Account problem against Bank. If Client makes a claim for an error or problem, Client agrees to cooperate with Bank in the investigation of the situation (including providing an appropriate affidavit as Bank may request) and any effort by Bank to recover funds on Client’s or Bank’s behalf. Unless Bank has otherwise agreed in the Service Documentation for any Service Bank provides to Client, funds transfers to and from Accounts will be reflected on the periodic statements Bank sends or makes available to Client or the applicable Account owner.
Account Statements and Reconciliation. At Client’s by Client or Bank as a result of any Vendor’s failure to election, Bank will either provide to Client electronically perform, or delay or error in performing, its services on through Bank’s Online Banking for Business Service Client’s behalf.
Account Statements and Reconciliation. The Bank can provide account analysis statements and information through Online Courier. Electronic account analysis statements are delivered on the 7th business day. As part of the Bank’s unique Controlled Payment Reconciliation (CPR) solution, the City will continue to receive Full Account Reconciliation services. After the payee deposits the check, the depositing bank routes it to us for payment. Upon receipt, the Bank posts the payment to the City’s account. Full Account Reconciliation generates the reconciliation by matching and balancing the checks posted to the account against the check issue files previously sent to the Bank. Note that outstanding checks are carried forward from one statement period to the next, until they are paid. The Bank then delivers “paid” and outstanding” data back to the City in either a hard copy report or as an electronic format for each statement period. The statement cutoff date determines reconciliation frequency. It is the City’s choice whether that is weekly, bi-weekly or monthly. Full reconciliation reports, along with bank statements and checks, are mailed within seven business days from the date the issue file is received. Online images of paid checks (front and back) can be retrieved within seconds through SunView Treasury Manager. The Bank provides detailed information on check disbursements, including the following reports to be used in the management and control of disbursement activity: • Paid Only Report • Unpaid Only Report • Consolidated Report • Recap of Posted Items • Diagnostic Summary Report • Outstanding Settlement Report
