Chase Connect® FAQ

We’re happy to have you as part of the JPMorgan Chase family, we are going help make this transition as smooth as possible.

In May 2023, First Republic entered FDIC receivership and JPMorgan Chase acquired its assets and liabilities. We are now transitioning First Republic products to JPMorgan Chase products and services, which will take effect in May 2024.

Effective May 25, 2024, your First Republic business deposit account(s) will transition to JPMorgan Chase.

You will be integrated to comparable JPMorgan Chase products. Other First Republic accounts or features may transfer at different times, and you’ll receive separate communications about them, if applicable. 

We will work closely with you to integrate you onto our products and share information with you on the next steps along the way.

May 28th 2024 is the date your deposit accounts will transfer to JPMorgan Chase and you’ll be able to view these accounts on Chase Connect®. Most of First Republic products will be integrated to comparable JPMorgan Chase products.

You can continue to transact on your business deposit account(s) using First Republic online banking or mobile apps, in a Preferred Banking Office, or via your banker, or Client Care Center until May 24. You will continue to have access to your funds throughout the transition of your deposit accounts; however, some services will be impacted between May 25-27.

We're committed to communicating with you in advance about any requirements for successfully transitioning you to all comparable JPMorgan Chase products before integration date.

Important milestones/items to note:

• Documentation Collection (Document/information collection)

  We will contact you via email/phone for documents and DocuSign for your new JPMorgan Chase products.

• JPMorgan Chase online platforms:
  You will be able to view your accounts prior to the integration on Chase Connect® in view only status to get familiar with the user interface. You will continue using existing First Republic products and online platforms up until your accounts transition.

• Deposit account transition May 25- 27, 2024

  Deposit accounts will transition to JPMorgan Chase effective May 25, 2024. You will have access to your transferred deposit accounts on Chase Connect® starting May 28.

  System administrators will be able to set up other users prior to the integration including: add other users and create entitlements.

  You will begin to receive your entitlements in April through early May. If you have not received those details, contact your relationship team.

Business deposit accounts transferring to JPMorgan Chase Commercial Bank will be available on Chase Connect®.

While not expected, should any discrepancies occur our team of integration specialists will provide support to you throughout the integration.

Deposit accounts will be placed on the JPMorgan Chase platform through a secure automated process run by our technology team. In May 2023, First Republic entered FDIC receivership and JPMorgan Chase acquired its assets and liabilities.

As a result, you will not have the ability to use existing First Republic products/infrastructure for your banking needs. Starting May 25, First Republic online banking and mobile apps will be view-only.

We are conducting this integration on a holiday weekend to minimize any disruption to you. You will have access to your account(s) via the Chase Connect® platform beginning May 28, 2024.

If you do not wish to bank with JPMorgan Chase, contact your relationship team for next steps.

Starting mid-April through early May, be on the lookout for an email including your User ID and a second email including a temporary password and Token.

If you have not yet heard from us , please check with your System Administrator as they were the recipient of the information. Early access lets you customize account settings and activate money movement services so that they will be ready when you use Chase Connect for the first time on Tuesday, May 28.

IMPORTANT: Please login within 7 days of receiving your User ID and temporary password and token to avoid being locked out.. If you do not login within those 7 days, there may be a significant delay in receiving a new temporary password.

Some clients will receive log in information for both Chase Connect® and J.P. Morgan Access® because the platforms have different functionalities that support different products.

You will be able to schedule ACH payments, including one-time, recurring, and future dated payments. ACH payees as of May 24 will transfer to Chase Connect. You can use these to set up payments starting May 28.

Payments scheduled after May 24, will need to be set up and originated through your JPMorgan Chase origin/company IDs.

After you are onboarded to Chase Connect® and your business deposit accounts are transitioned to JPMorgan Chase, you will be assigned origins to receive files. After the integration, you will be contacted with instructions on how to make these changes.

No, if you were enrolled in these services at First Republic, you will need to re-enroll after your account transitions. Once you re-enroll in these services, your ACH rules will transfer over.

ACH Positive Pay users: On May 28, you will need to login to First Republic Corporate Online to decision any exception items presented. You can continue to use the service on Chase Connect® moving forward.

We will share additional information including training in coming months.

Yes. You will be able to schedule ACH transactions through Chase Connect® starting May 28, 2024 . Please note that payments that are scheduled after May 22nd would need to be originated through your JPMorgan Chase origin/company IDs. The First Republic would need to remain open for a period of time for returns and reversals.

No, JPMorgan Chase will not offer ACH services to Retail users.

The cutoff time for same day ACH payments is 11:00am ET. For next day payments and collections is 8:00pm ET.

Services that will not be offered are concentration & sweeps functionality. Additionally, APIs are not integrating to JPMorgan Chase.

If you were enrolled in ACH Fraud Prevention Services at First Republic, you will need to re-enroll after your account transitions. Once you re-enroll in these services, your ACH rules will transfer over.

IMPORTANT: On May 28, you will need to log in to First Republic Corporate Online to decision any exception items presented. You can continue to use the service on Chase Connect moving forward.

Up to 7 years of previous First Republic deposit account statements will transfer to JPMorgan Chase Bank, N.A. Up to 24 months of previous First Republic deposit account statements and 24 months of transaction history will be viewable online on Chase Connect®.

After May 24, First Republic online and mobile banking will be view only.

First, your System Administrators needs to entitle sub users and set daily limits per user, then setup file imports in appropriate formats.

Second, SAs should entitle users with approval and activation entitlements.

Third, responsible entitled users should approve and activate the templates

The cutoff date for changes in FRB templates is 5/24. Any changes made after the 5/24 cutoff date will be manual as you will need to copy over the changes to Chase Connect®.

There is no action required from you. You will receive communication for awareness that you may need to access your account analysis statements from different portals if you have personal and business accounts. Starting on May 28th, 2024, personal and business accounts will be accessed in separate portals.

The timing and availability of billing account analysis statements will be impacted differently in the coming months.

• First Republic will generate a statement for the first 3 weeks in May 2024, but waive any deficient balance fees - instances where earnings credit on deposits is less than fees incurred.

• No JPMorgan Chase statement will be generated for the last week of May, 2024 and no deficient balance fees will be charged for that period.

• JPMorgan Chase will generate statements for June and July 2024, but any deficient balance fees will be waived.

• JPMorgan Chase will generate statements and charge deficient balance fees starting with the month of August, 2024.

You should carefully review June and July billing account analysis statements for billing accuracy and reconciliation.

Billing service code numbers and descriptions will be slightly different on the JPMorgan Chase statement.

Earnings credit will be computed against 100% of eligible balances at JPMorgan Chase vs 90% at hFRB; however a new 13 basis point fee will be assessed at JPMorgan Chase.

There are a small number of similar services where the billable items are different between First Republic and JPMorgan Chase, thus price neutrality will not be possible.

Fees will be assessed at JPMorgan Chase for manual bank initiated wires that otherwise could be executed through the online portal.

Fees will be assessed at JPMorgan Chase for accounts that might have an overnight negative balance.

Personal/Individual deposits will not be able to be used to offset fees incurred for commercial banking services.

• Armored carrier fees will no longer be offset by account analysis earnings credit. Beginning with your April invoice (March activity), you will begin to pay the armored carrier directly instead of FRB making the payment.

• These changes are meant to streamline processes and better align billing to industry standards.

• The armored carrier invoices will provide details about how to make payments, including payment due dates. If you do not receive the invoice in April, please contact your armored carrier provider.

Your armored carrier contract is currently between you and the vendor. Please reach out to your armored carrier provider if you have questions about the contract or how to make payments to them.

You will now place your orders using the J.P. Morgan VRU (Voice Response Unit). The VRU order guide and access codes will be delivered to your store location by your armored provider during the first 2 weeks of May.

Please continue to prepare your deposits as you are today.

No, your service days will remain the same.

Yes, you may use your existing deposit tickets unless notified otherwise.

No, you can continue to use your existing stock of bags.

For deposits received by 4 PM local time, the funds will be available the following business day.

Images will not be available online post integration; however, you can request them through your service representative and they will be able to provide copies.

CD ROM will continue to be available at JPMorgan Chase, however there will be new keys and a new image viewer.

During the month of the integration, you will get 2 CDs. When integration takes place, the CD process will move to JPMorgan Chase, but until then, the CD will still be delivered by First Republic.

Download the new image viewer before the integration – further communication on integration timeline will be communicated to you in the coming months.

Your JPMorgan Chase keys will be delivered separately before integration.

You will need to retain the current FRB CD Viewer and password/key to view CD's received prior to Integrating to JPMorgan Chase. You cannot open a CD received from Chase using the FRB software, likewise you cannot use the Chase application to open a CD received from FRB.

The upgraded ImageViewer will support upgrades/integrations from previous releases 8.3.0.x and higher so you won’t need to re-enter your past encryption keys.

If you were enrolled in Check Fraud Prevention Services at First Republic, you will need to re-enroll after your account transitions. Once you re-enroll in these services, your outstanding check register will transfer over.

IMPORTANT: On May 28, you will need to log in to First Republic Corporate Online to decision any exception items presented. You can continue to use the service on Chase Connect moving forward.

• For any questions please also be sure to reach out to your Relationship Managers. They will be able to best advise you on which JPMorgan Chase check product, best fit your needs.

• Please be sure to review and accept the Terms of Service.

• An online user guide will be shared with you at some point in the future. Please reference that guide to learn more about how you can set up the product following the instructions in the user guide.

• Additionally, we will share more details via email regarding training schedule. Please register for training and complete the training.

Once all the previously mentioned steps are complete, please begin using JPMorgan Chase’s Check Positive Pay on Wednesday, May 29th.

JPMorgan Chase understands that initiating the process is inconvenient for you. You may increase the risk of fraud losses if you fail to use appropriate fraud-prevention tools or services that would have detected unauthorized activity. Our Positive Pay and Payee Verification services help prevent losses from check fraud, such as employee theft, forgeries, counterfeits and alterations.

As described in your account terms, if you do not use the services we offer that are designed to help prevent fraud, the risk associated with losses shifts to you. If you do not take the required actions to implement the fraud protection we recommend, you will be liable for losses if an unauthorized or altered item is paid from one of your accounts, including payments based on magnetic ink character recognition (MICR) encoding, and counterfeit, forged or altered items.

You will receive multiple communications in the months leading up to the conversion of your accounts to JPMorgan Chase. These letters will include details of what to expect for all your products and how to ensure continuous service as you move over to JPMorgan. Your admins will also receive email alerts when your online banking platforms are made available to you. Please be on the lookout and be sure to follow-up the instructions listed to ensure your Check Positive Pay service continues as you are integrated over to JPMorgan Chase.

Our Check Fraud Prevention Service provides all the benefits of the Check Positive Pay service you used with First Republic—and it allows you to action pending check exceptions up to 4 p.m. ET. You’ll be able to monitor, review checks, configure alerts, upload checks, and decision exceptions just as you do today.

JPMorgan Chase retains data for your review for 90 days. Each request can encompass up to 30 days at one time.

You will have access to your Corporate Online profile at First Republic in “view-only” mode. You will be able to review your transaction and positive pay history going back 6 months.

Decision cutoff time is 4 pm ET.

Your bank number will be noted in your communications from JPMorgan Chase and your Banking Service Professional can assist with any questions you may have.

If you would like to change your decision, please contact your Service Professional to make any decision changes.

Unfortunately, Check Positive Pay is not offered to retail / consumer accounts.

You will continue sending your check print file to the bank using your current process, however, this service will be discontinued by the end of the year. Please contact your banker to learn about equivalent services at JPMorgan Chase.

For First Republic, files received by 5am PST are be processed and mailed on the same day. File received by 4pm PST is processed and mailed on the next business day.

You will not have to make any changes to the file you currently send, but as mentioned before, this service will be discontinued by the end of the year. Please contact your banker to learn about equivalent services at JPMorgan Chase.

Users sending files via Direct Transmission will continue receiving the notifications they receive today.

You will continue to receive their check registry and PDF copies of the checks until you are fully integrated to a JPMorgan Chase check print service. These items will continue to be sent via Direct Transmission.

You will continue to have your check positive pay files generated automatically up until you are integrated to a JPMorgan Chase check print service.

The documentation collection is JPMorgan Chase’s effort to collect this information and any required signatures from you so that we have the most up to date information including the signatories and System Administrators for your company. This will ensure that you have a smooth experience and also help JPMorgan Chase reduce the chance of fraud in your account(s). Please note, all documents are for First Republic integration only and will NOT affect your accounts while at First Republic.

We will use DocuSign to facilitate the document submission process electronically.

All documents are required before integration but individual document requirements may differ. We have communicated due dates along with the document package via email.

System Administrator Designation Linking Form (SADLF) designates a System Administrator and delegates authority to manage and control the primary Customer’s online banking for Chase Connect®. The document also allows you to link additional Companies (entities) to be viewed under a single online profile with the authorized signer’s authority. SADLF is required as part of the onboarding process as a part of integration from First Republic. Additionally, it will ensure that you have the best customer experience and also help JPMorgan Chase reduce the chance of fraud in your account(s).

System Administrators (SAs) manage users and product entitlements online. Through them, your employees can get user IDs and passwords, security tokens, password resets/unlocks, and the entitlements they need to do their jobs.

System Administrators (SAs) have wide range of responsibilities including the following:

SAs are responsible for creating new users, modifying existing users, and deleting/deactivating users. They also manage user entitlements at the product and account level. In addition, SAs distribute User IDs, passwords, and perform password unlocks and/or resets. SAs also ensure that your SA designations are kept current, advising JPMorgan Chase when revisions are required. Lastly, SAs are granted all entitlements to all accounts and entities linked to the company’s profile.

The people who fill the role of SA should understand your company’s operations and audit requirements, and be familiar with the products and services you use. They are not required to be the CFO or Treasurer, but they should be a person with authority as they can entitle employees to initiate transactions and can initiate transactions themselves.

They should have knowledge of security best practices and be readily available during normal business hours.

Many users consider having their existing Risk or Security department managers take on the role of SA. These personnel often already manage employees who can access accounts, including the issuance of funds transfers or ACH transactions, making them an ideal choice.

Starting in mid-April, System Administrators will be able to:

• Entitle and add new sub-users, including at the account and product-level.

• Activate products and services (ACH, Wires, Fraud Protection Services)

• Verify Wire and ACH limits to ensure you have appropriate limits or request changes.

• Review profile settings and personal information to ensure accuracy.

• Setup account nicknames

• Update alert preferences

Please note that the use of money movement services will not be available until May 28.

During the implementation of Chase Connect®, your SAs will:

First, attend System Administration training to learn about their role in creating new users, defining entitlements and distributing security Credentials.

Second, learn about Chase Connect® functionality and utilities.

Third, create and entitle new users.

Fourth, assign and distribute security credentials to new users.

The Access and Security System Administration application is the primary tool SAs use to manage user access and entitlements.

Access & Security Manager allows SAs to create or delete users and entitle them for a variety of Chase Connect® products and services. New users can be added and the entitlements for existing users can be modified or removed.

In addition, Access & Security Manager allows SAs to control access to specific functions or set limits for ACH, and Account Transfers.

Through Access & Security Manager, SAs can perform a number of security management functions, such as creating and retrieving user IDs and initial passwords for new users, activate and inactivate users, and reset or unlock passwords.

Proxy System Admins are added by reaching out to a service associate to generate the System Administrator Designation Linking Form (SADLF). The SADLF requires the below pieces of information along with the signature of an authorized entity level signer (Managing Officer).

• Action Box: Add, Modify or Delete check box

• First and Last Name

• Phone number

• Cell number required if SA will be utilizing a soft token to login

• Street address including city, state, zip code and country

• Email address

• System Admin signature

• Certifying Signature of a Managing Officer with date

All fields must be completed to prevent rejection of the form.

Users entitled to perform sensitive functions, including SAs, are required to enter their token code and password when logging on to Chase Connect. They are also asked for this information when performing activities that require additional security (such as releasing a transaction).

An RSA token is a technology mechanism which lets an end user authenticate to a system by retrieving a 6-digit token code.

A soft token will require a mobile phone number be listed within the SADLF. The soft token is an enablement provided to an SA/user who will then download the RSA SecurID software app to their mobile device

SAs who do not login within 185 days will move to an inactive status. After an additional 180 days, their profile will be purged from the system.

Unfortunately, your check images for items deposited through the JPMorgan Chase Image Cash Letter are not available online post integration. You will need to contact your vendor if you would like to see image details.

Post integration, your deposit will be visible in the Chase Connect® online portal and it will be reflected in your account with a description of "Image Cash Letter Deposit".

Post integration, your deposited funds will be available in 1-2 days. However, if your deposit has “on-us items”, which includes Chase and First Republic routing numbers, you will receive same-day funds availability.

Unfortunately, JPMorgan Chase Image Cash Letter does not allow Third Party Deposits unless a Third-Party Agreement has been executed.

Post integration, all Image Cash Letter deposits must be drawn in USD on US Domestic Banks and may not contain any deposits sent from, originating from, or scanned outside of the U.S or Puerto Rico.

Post integration, your deposit X9 files must be received by 10pm Eastern Time.

Post integration, by default, JPMorgan Chase will send paper mail notifications for deposited Check Returns. However, if you have alternative instructions on file, such as email or fax, then JPMorgan Chase will mirror the current set up.

Post integration, our JPMorgan Chase Research and Adjustment team will debit the DDA in question and post the adjustment details. Also, our team will mail a systemically created notification to the account address on file. If more clarification is needed, you can contact your relationship team and provide them with the ESDS case number in the details of the DDA adjustment.

Post integration, through the Image Cash Letter onboarding process, our implementation managers will update your profile with file confirmation notification preferences. These are delivered via email or XML file transfer.

Post integration, for any new image quality failures, you will be notified by email to the contact on file. We will update your profile with image quality failure contact name and email during the onboarding process.

If the image quality does not meet acceptable standards, then an email notification will be delivered to the contact on file and the check or checks will need to be rescanned. (This applies only to new images after integration to JPMorgan Chase.

Historical hFRC images will be available on hFRC platform until end of the year).

Post integration, if you have duplicate items, you will be notified by email to the contact on file. We will update your profile with image quality failure contact name and email during the onboarding process. If an item is deposited, and JPMorgan Chase determines that this is a duplicate on Day 1, then the item will be rejected, and an email notification will be sent to the contact on file. If the item is not detected by JPMorgan Chase on Day 1 as a duplicate, the item could process as an adjustment in the following days if detected as a duplicate by the paying bank. That would follow the normal adjustment process and not be communicated via email.

In the case of a missing cash letter deposit, please contact us (integration support team) and be prepared to provide the following information:

• our Name (e.g. IBM)

• Contact name and phone number (at IBM)

• Account number

• Deposit or Transmission date

• Dollar amount of the deposit

• Time the deposit was submitted and/or received

• Routing or Transit number

• Specific request information

Then our internal partners can research the file in question and get back to you.

Post integration, our JPMorgan Chase Research and Adjustment team will debit the DDA in question and post the adjustment details with an accompanying ESDS reference. Also, our team will mail a systemically created notification to the account address on file.

Yes, post integration, your vendor will need to make format changes to the deposit X9 file to meet JPMorgan Chase’s standard file format standards. All vendors have been notified regarding this change.

Yes, introductory vendor and user notifications were sent out the week of January 15th, 2024. These included the correct JPMorgan Chase Image Cash Letter X9 file specs.

Through the integration onboarding process, our JPMorgan Chase implementations group will work with vendors directly to test the needed file changes to successfully leverage the Image Cash Letter product.

No, you are not required to be on Chase Connect® for Image Cash Letter.

Post integration, you will have access your business and accounts separately. Additionally, you may see changes in the format of statements, and availability of products and/or product features.

1. For Agents Deposits Accounts (ADAC) accounts, prior to integration, we require evidence of the existence of the Principal. As such, you will need to submit a W8 or W9 form.

2. For our cash concentration and money market mutual fund sweep users, we must receive your executed terms with a properly completed Schedule so that a comparable account can be opened and that we know how to manage your funds.

3. For Demand Deposit Account (DDA), please be aware that the terms and conditions are being updated.

4. For Employee Retirement Income Security Act, or “ERISA” in short, please be aware that ERISA-specific account terms and ERISA disclosures may apply to Pension and Profit-Sharing Plans and subject to a high degree of Product and Service restrictions. Additionally, ERISA-specific account terms may apply

5. For IOLTA, please note that IOLTA accounts should never be overdrawn. In the event an overdraft occurs, the Bank must report it to the state bar. Illinois and New York states are subject to a $15 monthly service fee, debited from interest earned. Also, overdraft protection will be discontinued. Product and Service restrictions may apply.

6. For Escrow, you will receive physical mailings which will reference JPMorgan Chase Escrow staff as contact.

7. For Earnings Credit Rate (ECR), please be aware of several changes including statement format and fee calculations. The current standard ECR rate is 1.75%. You should review the Account Analysis statement guide to get familiar with the format of the Account Analysis statement.

8. For Money Market Funds (MMF), there are differences between First Republic and JPMorgan Chase MMF programs, please review the new Service Terms prior to investing in money market funds with JPMorgan Chase. Kindly look out for more information from our end.

9. For Political Action Committee (PAC), please note that this is a type of account only available for US entities and the account CANNOT be opened for political committees established in Massachusetts. PAC accounts are only opened for PACs that are “connected” to a Sponsoring Organization that is a customer with an active or prospective CIB relationship. PAC-specific account terms and restrictions may apply.

10. For Segregated Deposit Accounts (SDA), please note that first, the Primary account will become an Analyzed Account. You will receive a combined statement which includes the primary account and all subaccounts. However, certain Treasury Services, including Cash Concentration, are restricted for subaccounts. Onboarding of subaccount beneficial owners requires the collection of a W8/W9. SDA-specific account terms apply. You may access JPMorgan Chase’s Electronic Specialty Account Portal (ESAP) to self-serve, manage, and view SDA structures.

Yes. As per arranged and casual overdraft protection, you will incur a fee for overdrafts post integration. Depending upon the product, you may be charged a per day overdraft fee or a per item fee. If you are charged a per day fee, you will be charged a daily overdraft interest charge as well.

Upon integration of your liquidity product, you will begin to receive JPMorgan Chase statements and not First Republic statements. Key changes include only receiving front image of checks as part of your statement, seeing new product names that aligns with JPMorgan Chase terminology, and display of daily balances. You may also see new interest rate tiers on which interest is calculated and if you have interest bearing accounts, you will receive an interest statement reflecting amount of interest paid in addition to your normal statement.

Also please note that special handling of bank statements is no longer supported. This includes overnight mailing, email of bank statement, combining multiple statements in one package.

Physical Cash Concentration provides automated consolidation of cash from multiple accounts into a single account of the same or different currency, increasing visibility and control of our users liquidity. The solution improves working capital by reducing idle balances, deficits and overdraft fees, while allowing more control over a centralized investment policy..

Centralize cash with control – Concentrate balances into a header account(s) with options to setup sweeps in a wide range of configurations.

Enhance efficiency – Improve operational risk through automating manual transfers whilst enabling Treasurers to utilize their internal cash and manage working capital efficiently.

Full suite of capabilities – Service can be offered with other value add solutions including Intercompany Loan Reporting & Administration.

The most common form of cash concentration is the In–Country / Domestic Sweep that moves balances between accounts held in the same location and currency.

The other sweep variants are:

a) Cross Border Sweep – cash concentration between accounts held in different locations

b) Cross Currency Sweep – cash concentration between accounts held in different currencies

c) Multibank Sweep – cash concentration between accounts held in different banks

d) Just-in-time Funding – automated funding of payments from a central account prior to payment release via an intraday transfer

Both single entity and multi-entity user can set-up cash concentration. For multi-entity structures, the participating entities must be affiliates under common control or ownership.

Below are some of the sweep functionalities available for flexible configuration are:

a) Sweep Type

b) Sweep Direction

c) Sweep Execution Time

d) Sweep Frequency

e) Balance Type

f) Automatic Back Valuation

g) Reverse Sweep

Sweep Type defines the preferred balance and transfer calculation method. The options available to you are:

a) Zero Balance – establishes zero balance on the participant account after the sweep

b) Target Balance - establishes the set target balance on the participant account after the sweep.

c) Threshold Balance - establishes the set maximum or minimum threshold on the participant account after the sweep

d) Fixed Amount – transfers a fixed amount every time sweep executes

e) Percentage – transfers a percentage of the calculated sweep amount

Sweep Direction defines the flow of fund transfer between accounts. The options available to you are:

a) Two-way - either pull or push funds to bring the balance of the participant account to zero, target balance, minimum threshold or maximum threshold

b) One-way from Master Account - pull funds from the master account to credit the participant account if the balance of the participant account is less than the zero, target balance or minimum threshold

c) One-way to Master Account - push funds from participant account to credit the master account if the balance of the participant account is greater than the zero, target balance or maximum threshold

Sweep Execution Time defines when the transfer occurs. The options available to you are:

a) End of day - sweep executes as the last transaction of the day as part of the branch end of day processing

b) Intraday – sweep executes at the scheduled time during the day as set by the you

Sweep frequency defined the occurrences of transfer execution. The most common sweep frequencies are:

a) Daily

b) Weekly

c) Monthly

d) Calendar date: e.g. 30th of the month

e) Business date: 1st or last business day only

f) Quarterly

g) Custom

The Non-Business Day Option defines the action to be taken when a non-daily sweep falls on a non-business day. The available options are:

a) Sweep on the Prior Business Day

b) Sweep on the Next Business Day

c) Skip Execution

Balance Type defines the treatment of float in relation to the balance used in sweep calculation. The available options are:

a) Collected Balance – cleared or available balance

b) Ledger Balance – actual balance that includes float or uncleared transactions

Automatic Back Valuation creates back-valued cash concentration transfers to target-balance accounts with back-value adjustments. It prevents overdraft or unconsolidated balances from a back-value adjustment or transaction.

Reverse Sweep reverses the prior-day concentration transfer as the first transaction of the next business day.

ZBA Set-up is the standard cash concentration set-up with the following parameters:

a) Sweep Type – Zero or target Balance

b) Sweep Direction – Two-way

c) Target Balance – Zero or Target Amount

d) Sweep Execution Time – End of Day

e) Balance Type – Ledger Balance

f) Automatic Back Valuation – Enabled

g) Reverse Sweep – No

In the absence of an intraday line, accounts set-up in cash concentration automatically share balances.

Yes, virtual accounts can be included in a cash concentration structure.

Yes, the functionality to amend certain sweep parameters and execute sweep via API is supported.

Yes. Money Accounts (CMA) and Blocked Account Agreements (BACA) in combination with Physical Cash Concentration are restricted.

Please engage Liquidity Product when offering such combination.

Yes. Employee Retirement Income Security Act (ERISA) Accounts and Political Action Committee (PAC) / Political Committee Accounts (PCA) in combination with Physical Cash Concentration are prohibited.

Yes, Intercompany Reporting and Administration is available. This supplementary service that tracks the movement of transfers (intercompany loans) and net positions between accounts participating in physical cash concentration structures. Credit and debit interest rates are used to calculate and accrue related party interest, which can be physically settled to accounts.

Executing the Cash Concentration Service Terms is required to set-up a cash concentration structure. You will be required to sign the terms any time you add a new account to the structure.

MMF’s offering works differently at JPMorgan Chase. Your funds are invested directed from an operating demand deposit account (DDA) with different eligibility, minimums, fees, and accessibility, etc.

You have to select an alternate Master Account for their physical cash concentration structure.

Before integrating to JPMorgan Chase, First Republic will be redeeming your MMF position (principal and dividend) and closing the MMF account. The redeemed MMF position will transfer into their DDA to prepare for the transition.

JPMorgan Chase does not offer like-for-like MMFs functionality as First Republic.

JPMorgan Chase MMFs have different eligibility, minimums, fees, and accessibility across Line of Businesses.

Additionally, JPMorgan Chase General Accounts Terms and Disclosures need to be agreed to in order to access MMFs at JPMorgan Chase.

You are required to sign and return all required Document Collection documentation to have a MMF account open post integration.

MMF documentation requires will be send directly to you by the integration team via DocuSign.

The JPMorgan Chase integration team will act in an administrative capacity and prefill the Schedule A of the MMF service terms with a like-for-like fund. You have the option to choose an alternative fund/share class if they would prefer.

If you wish to explore alternative fund/share class, please work with your integration contact to engage Line of Business solution team.

Banker engagement is not required to help complete the service terms.

First Republic will redeem MMF principal and earned dividend balances and transfer to the corresponding deposit account prior to integration.

Those who missed the deadline for returning the MMF service terms can explore opening a MMF account post-integration by working with their JPMorgan Chase Banker BAU post integration.

MMF service terms for Direct Invest must be completed in good order by April 26th and EOD and Intraday Sweep service terms by May 17th for a MMF to be open at JPMorgan Chase post integration.

Additionally, post integration the Line of Business Liquidity Product Management Team can help explore additional solutions, including deposit solutions.

We understand the importance of well-positioned locations to maximize deposit timelines. Although your PO Box address is changing, we assure you that we have designed our network to ensure sites are strategically placed for optimal service and resiliency.

After May 24th we will have mail forwarded for 90 days from the existing PO Box to the new address PO Box location.

We do not plan to transport mail to your new PO Box location beyond August 24th 2024. We believe this approach is in the best interest for you , including your business. This decision is rooted in our commitment to maintaining the highest standards of control and security in our mail handling processes.

This is more of an advanced notice so that you can prepare you tech teams and vendors to make the change when the address is available. May 1st was selected to ensure mail is not re-routed before integration weekend. To offset any additional time required to make these changes, after May 24th we will have mail forwarded for 90 days from the existing PO Box.

We will be changing physical locations as we are moving away from First Republic locations. We will be integrating you to one of the five JPMorgan Chase US lockbox locations.

As a result, your lockbox city may change. The following chart shows the locations where First Republic lockboxes will integrate.

• On May 24th 2024, we will begin forwarding your mail to your JPMorgan Chase lockbox.

• We’ll automatically forward any mail from your First Republic lockbox to the new one for 90 days.

• We strongly recommend updating remittance address before July 31 to avoid any delays in receipt of payment.

• Effective August 24, any mail received at the First Republic lockbox address will be returned to sender.

• Completion of integration (when mail is all received at JPMorgan Chase): 8/31/24

• All lockbox users are advised to update PO Box address, beginning May 24. To achieve this timeline, you should have resources and action plan prepared to update remittance address.

• Once you have received your lockbox remittance address, take action to update your lockbox remittance address in all places where you have published your lockbox remittance address (e.g., billing statements, websites, automated phone systems, etc.). We strongly recommend completing these updates before July 31 to avoid any payment delays. Effective August 24, any mail received at the previous First Republic lockbox address will be returned to sender.

• Attend online training and review the Receivables Online user guide. (We will share additional communication for trainings.)

• Be aware that you cannot make changes to existing lockbox at First Republic while JPMorgan Chase implements the new lockbox.

• Important to note - Any new changes after March won’t be carried over to the new lockbox at JPMorgan Chase.

• The new lockbox address may include a new city. By May, you’ll need to accept the new lockbox location or close lockbox service with First Republic. We understand the inconvenience but it is not possible to continue lockbox service from old physical location.

JPMorgan Chase understands that a new location is inconvenient for you to continue lockbox service with JPMorgan Chase after integration. In that case:

• You will stop receiving lockbox payments when mail forwarding expires. Effective August 24, any mail received at the previous First Republic lockbox address will be returned to sender.

• JPMorgan Chase has robust reporting and exception management capabilities, optional weekend processing, and a wholly-owned lockbox solution that allows JPMorgan Chase to offer more customized solutions to fit your business' needs.

• JPMorgan Chase’s Lockbox with Receivables Online offers a comprehensive collection system that can assist you with processing incoming receipts and updating your accounts receivable systems.

• Rely on stable processing workflow and disaster recovery with our network of fully redundant locations and around-the-clock monitoring.

• For lockbox items processed on or before May 24, 2024 you can continue to use the First Republic web portal to view 6 months’ of transaction history.

• You will lose access to view historical First Republic transactions on November 25, 2024.

• If you would like to retain their First Republic transaction history for longer, you may download their transaction history before November 25, 2024.

• For lockbox items processed after May 24, 2024 you can view their long term (10 years) transaction history via JPMorgan Chase’s Receivables Online web portal.

• You are currently subscribed to an optional service that allows you to suspend, enrich, and decision lockbox exception items. Instead of this service, we will enable your new lockbox at JPMorgan Chase with a similar exception management service called Supplemental Data Enrichment. This service will allow you to add additional invoice information, mirroring your data entry instructions, after items have been processed by lockbox.

• The main difference between our Supplemental Data Enrichment service and your current exception management tool, is that you will be able to add invoice information after they have been processed by lockbox.

• While JPMorgan Chase offers a more robust lockbox exception management tool called Decision Manager, it requires additional scoping discussions and customization and can be added to your lockbox after May 24. Please refer to the attached Receivables Online and Decision Manager user guides to learn more about our Supplemental Data Enrichment and Decision Manager services.

Your primary point of contact in First Republic for Standby Letter of Credit has been the Business Banker. However, on the JPMorgan Chase side, your primary point of contact will now be Trade and Working Capital Operations team. When you are integrated to JPMorgan Chase side, you will receive notification including details in changes to presentation locations and reference numbers.

Trade and Working Capital Operations team will integrate you manually and include all transactions . We will support you to address any misalignment which may arise between JPMorgan Chase and FRC processes.

No action is required from you since the Trade and Working Capital Operations team will integrate you. You will receive notification that advises you on the differences between the First Republic and JPMorgan Chase references and contact points This will be part of the wider, overall communications.

No you do not need to take any training as there are no actions required from you in the integration process.

Unfortunately you will not be able to move the integration date. The integration will occur automatically and cannot be changed.

If you require a new Standby Letter of Credit please approach your business banker.

There is no difference, as the Standby Letter of Credit product is standard; however JPMorgan Chase has a dedicated Standby Letter of Credit team to help service you.

Yes, you will receive communication once your SBLCs have been integrated.

Prior to the integration there will be no connectivity change, but there may be some minor format changes for files sent from bank to you. You will receive an email with instructions on upcoming changes to align with the JPMorgan Chase formats.

Yes, the Payments transmissions team will assist you in integrating to the new format. If you need assistance, you can send an email to payments_transmissions@firstrepublic.com.

The Payments Transmission team will reach out directly to you and work with you to take the necessary action required. Reminder emails will be sent as well.

You should refer to the documentation provided by The Payments Transmission team or request a test file Once the integration has occurred, you cannot revert back to the old file format.

You will be provided JPMorgan Chase specific documentation that you must convert to before the integration.

You will continue to have “read only” access to the First Republic platform for approximately six months after integration . It is strongly recommend that you export any BAI, MT, or CSV historical data if you wish to keep it, as the data will not be integrated to the JPMorgan Chase platform.

We are providing live, webinar training on Chase Connect® products and services that include Q&A sessions. We also provide our Connect® Go to Guides and tutorials to help users and System Administrators.

Our Integration Support team is here to support you throughout the integration process.

There are no steps to be taken before integration to enroll in J.P. Morgan Chase FX Wires Product. If you previously submitted online wires with First Republic, you will be automatically onboarded and eligible to initiate wires on Chase Connect®. Although you will be automatically onboarded, you may receive a profile activation communication. Additionally, you will need to setup any FX wire templates. USD Wire templates as of May 24 will transfer to Chase Connect®. You can use these to set up payments starting May 28.

Yes, we will share online training and online user guide. Training will begin starting April 1st 2024. We will share more details via email and phone regarding training schedule.

Up to 24 months of previous First Republic deposit account statements will transfer to JPMorgan Chase Bank, N.A. Up to 24 months of previous First Republic deposit account statements and 24 months of transaction history will be viewable online on Chase Connect®.

After May 24, First Republic online and mobile banking will be view only.

All Payments contain three pieces

1) Create

2) Approve

3) Release

An example is a user who creates a payment and has auto approve, on submit the payment gets created and immediately goes to Pending release. It may not seem like the payment is approved but because the user has Auto Approve entitlement, The payments automatically Approves.

All Templates require three pieces

1) Create

2) Approve

3) Activate (2 options)

a) Manual Activate

b) Auto Activate

Most users are setup as Auto Activate. This means that upon Approval Activation automatically happens. You may not think it is going through the activation process but it is. If template remains Pending Activation, then you will need to modify and submit the template again and it will have to go through the workflow. If you are setup as Manual Activation then you will need the entitlement for ACTIVATE or Activate OWN.

High risk rules for Wire/Book/Drawdown/ATR/Bank Draft/GIRO Payment. (Account transfer is not considered High Risk and these rules do not apply)

1) Freeform payments must be Dual Control

2) Payment from template may be Single Control (one user doing Input, Approve and Release) as long as the template is Dual Control

a) For Standard template where you have modified 2 or more lines of Transaction Details while creating the payment will immediately require the payment to be Dual Control even if the Template is Dual Control

b) Enhanced templates users are restricted to one line of Transaction detail

3) Payment from template will require Dual Control if the template is Single Control (created, approve and activated by one person.)

a) For Standard templates SYSTEM is not considered a user unless it was part of the original integration in 2014 and have not been modified since

b) For Enhanced templates a user of SYSTEM is considered a separate user for ACTIVATION only

4) If a user is given the functions to Input approve and release a payment and the above rules are not met, then you will not be able to release.

Wires and ACH transactions are owned by the user who Created or modified the transaction.

Templates for Wires are owned by the user who Created or Modified the Template.

Digital Signature is used for validation of your payment or template. Digital signing requires a user to re-enter your Password and Token code.

For Payments:

1) If Digital Signature setting is 1, then digital signature is on Release

2) If Digital Signature setting is 2, then signing will occur when transaction is Approved and when Transaction is Released

a) 2 distinct signatures required for Approval and Release.

For Templates:

1) If Digital Signature setting is 1, then digital signature is on Activate

2) If Digital Signature setting is 2, then signing will occur when template is Approved and when template is Activated

a) 2 distinct signatures required for Approval and Activation.

• Default User Limits– SA’s must setup Default user limits (Administration>Security) within the system for all products that allow for payment initiation. If they do not, they will not be able to modify any existing user or create a new user.

• User/Function Level – When creating a new user and entitling a user to a payment application, the SA can choose to impose limits for that user. If the SA does not impose limits, the system will automatically impose the default User limits.

1) If a user has same functions both individually and by user group (even multiple user groups), the limit will be what is given individually for all wire functions

2) If a user has same functions from multiple user groups and none individually, the limit will be the lower of the two

• Account Level - All account setup for Wire capability has an Online Account Transaction limit which is optional. To see this, go to Administration>Accounts>Products Associated. This limit can only be changed by CSO with a Deal Manager. This is the only account limit in the system.