Banking Services

The Vendor is required to provide general banking and treasury services, custodial services, lockbox services, merchant services, and payment execution services.
- County to achieve the most productive use of cash, minimize operating costs, safeguard assets, and provide maximum flexibility in the management of cash for the county.
- Banking and treasury services
• Provide for an enhanced treasury-services relationship where the successful proposer(s) will offer the capabilities to provide streamlined documentation online, provide online tools for efficiencies, use banking portals to enhance cash-flow management, and access a set of tools online that can link to the county’s current financial software.
- Custodial services
• Custodial services to help maintain its investments in safekeeping.
• This could include a custody account for cash and securities owned by the county, collection of coupons and other periodic income on the securities being held, and settling purchases, sales, and other transactions.
• All purchases should be settled on a delivery versus payment basis.
• Services should also include web-based reporting with real-time access to cash and transaction data, as well as monthly and annual reporting options.
• Finally, for all investments that require collateral to be provided to the county, the collateral shall be held in safekeeping, rules-based compliance monitoring services shall be performed, and the collateral shall be returned to the investment broker/bank at the direction of the county.
- Lockbox services
• Lockbox services cover the processing of checks and other instruments submitted in payment of obligations to the county.
• Provide for wholesale, retail, imaged, and paper lockbox processing for payments accounted for as revenue with competency and due care.
- Merchant services
• The merchant-services provider will process credit card payment transactions on behalf of the county.
• Chant-services provider will process credit card payment transactions on behalf of the county.
• The service will include terminals that can perform single settlements and block credit transactions, customized web and online-based credit card transactions, as well as electronic check-payment processing.
• Credit card settlement deposits will be by merchant number and will show the last four digits of the merchant number plus the transaction date.
• The merchant-services provider will have the ability to provide on-site training as needed, be PCI compliant, and show certification on an annual basis.
• The county understands electronic payments to include credit and debit cards, smart cards, e-cash, internet, automated or electronic transfers, and any other techniques used for the transfer of funds, which does not require the use of cash, checks, or other physical object transfers.
• Must be able to accept visa, MasterCard, discover, and American express card payments.
• Support other major credit cards, apple and google pay, as well as automated-deposit options for recurring and deposit fees.
• The use of standard financial formats that are compatible with the county’s current banking providers.
• Data protection, confidentiality, and integrity of all files, including security provisions.
• Continuous functionality during all hours of operation, 24 hours a day, seven days a week, including all holidays.
• A system that can guarantee no single point of failure that can adversely affect the availability of the service.
• Modularity of hardware and functions permitting expansion of functions for all departments and offices.
• Clarity and simplicity of design and operation for both customers and the county.
• Effective response time.
• Transaction settlements within 24 hours.
• Clear process for charge backs and returned transactions.
• Fraud protections.
- Payment execution services
• Provide electronic-payment processing, virtual-card payment and check print and mail.
• A solution that will facilitate traditional payments (b2b) and also unique small dollar or one-time payments (b2c).
• Any solution will also have robust fraud protections as well as be supported by timely and responsive customer service for both the county and payment recipients.
- Contract Period/Term: 5 years
- Mandatory Pre-Proposal Meeting Date: May 15, 2025
- Questions/Inquires Deadline: May 30, 2025