Banking Process Sample Clauses

Banking Process. The Contractor shall be responsible for: a. Managing all banking processes. b. Working with the Department, Florida Department of Financial Services (DFS) custodial bank and the lockbox provider to create and finalize all banking contracts. c. Paying employer-related fees for required banking relationships for HRA account management (if applicable). d. Supporting Participant HRA accounts without a monthly fee to the Participant, regardless of the HRA account balance. e. Providing no minimum balance requirements for HRA accounts. f. Ensuring all employer accounts are opened in the Department’s name (i.e., not the Contractor’s name); g. Coordinating data exchange with the banks to facilitate processing of Participant repayments of unsubstantiated HRA claims and updating Participant accounts. h. Ensuring all bank accounts required of the Department are fully insured.