for banking lockbox services.
The services required are for banking lockbox services for mailed receipts generated from Southern Illinois University School of Medicine's clinical practice. Additionally, the School of Medicine is seeking proposals for the maintenance of other related demand deposit accounts.
Services to be performed include: summary schedule of the cash collections via hard copy and electronic transmissions; same day processing and bank deposit or receipts; return of remittance advice and miscellaneous correspondence to the School of Medicine by 8:00 a.m. the next banking day; provide copies of checks, money orders, etc. when payment contains no remittance advice; cash payments by mail must be noted on the summary schedule; segregate remittance of Visa, Master Card and Discover payments mailed to the lockbox and process payment information for credit to bank account (credit amount must be identified on the summary schedule; provide data that readily matches all payments with respective remittance advice (includes multiple payments with one remittance advice or multiple remittance advice with one payment); provide software or other means allowing daily access to account information, including deposits, transfers, etc.; provide collateral acceptable under the Illinois State Statutes for cash in excess of the FDIC insurance limit. (Submitted by Pam Speer, State Purchasing Officer.)