Banking Services

The Vendor is required to provide comprehensive banking services.
- Responsible for managing significant public funds in support of its educational mission and operations, including payroll, accounts payable, student fee collection, and/or other financial transactions.
- Must demonstrate a strong commitment to providing the District with excellent customer service, financial tools, and risk management, while ensuring compliance with applicable laws and public sector accountability standards.
- The District's central accounts consist of a state operating account with an estimated volume of 50 transactions per day, USD operating account with an estimated volume of 10 transactions per day, state Payroll account with an estimated 10 to 20 transactions per month, and a state high interest savings account with minimal monthly transactions being used as an alternative to short term investing.
- Identify key employees who will support the Account Manager, including their roles, responsibilities, operating hours, and time zone.
- Provide information on training programs and onboarding support for District staff, particularly in the use of online banking platforms, reporting tools, and fraud prevention features.
- Provide details such as the process, timing of transactions, approval thresholds, and number of approvers on each of these core services.
•    Deposit services (electronic and over the counter)
•    Cheque clearing and processing
•    Pre-authorized debit and credit processing
•    Stop payment processing
•    Account reconciliation services
•    Wire transfers (domestic and international)
•    Electronic funds transfer (EFT) and automated funds transfer (AFT) services
•    Country automated clearing house (ACH)
•    Bank drafts and certified cheques
•    Foreign currency exchange (primarily cad to USD)
•    Fraud prevention and security measures
•    Transfer of funds between accounts
- Provide details on how user profiles are managed, including levels of access, number of accounts allowed, approval workflows, and the ability to assign roles and permissions for various users within the District.
- Indicate how long records will be stored within the online system, what the process for downloading transactions is, and any time restrictions for downloading files.
- The District requires the ability to download reports directly from the online system. 
- Provide a brief description of the level of detail available in the reports. 
- Identify if there are any system restrictions on the frequency of generating reports.
- The proponent should include a sample report for daily bank transactions.

- Contract Period/Term: 5 years
- Questions/Inquires Deadline: November 7, 2025