Banking Services

The vendor required to provide full-service banking services for the following:
•    A general operating account and related banking services
•    A payroll account and related banking services
•    A student refunds account and related banking services
•    Credit card account and related banking services
•    Information reporting
•    Direct pay deposit
•    Fraud control consolidated
•    Deposit services
•    Returned items
•    Electronic data interchange
•    Special financial programs for employees and students
•    Temporary line of credit
•    Federal clearing activities
•    ACH account and related banking services
•    Positive pay services for checks issued by agency
•    Overnight or other short term investment agreement as deemed by the college
•    Full electronic (online) banking services
- Banking supplies
•    Bags – approximately 2,500 annually
•    Deposit slips – approximately 6,000 annually
•    Endorsement stamps – 60
•    Locked bank bags – 50.
- Remote electronic deposits
•    The financial institution shall provide remote electronic deposit capability and associated equipment. 
•    The financial institution should address the cost of equipment and any other cost to operate at different locations on campus. 
- Depository related services
•    Bank will act as a depository bank for the college and perform all required depository-related services as they relate to receipt and disbursement of funds.
- Treasury and business-related services
1. Electronic funds transfer
•    Bank shall provide electronic funds transfer (eft) services including the initiation of wire transfers and the origination of automated clearing house (ach) entries. 
•    All eft transactions shall be in accordance with applicable law, federal regulations, and national automated clearinghouse association and other applicable banking industry rules and regulations.
2. Fraud protection
•    Bank shall make available fraud protection services including check positive pay, ach blocks, and ach filters. 
•    Respect to such fraud protection services, the college may avail itself of the most generous deadlines available under law and in accordance with bank’s procedures and deadlines customarily established for its commercial customers to notify bank of errors of fraudulent or unauthorized transactions.
3. Check cashing service
•    Bank shall provide a check cashing service to the college’s employees and students, for any valid check written on any of the college’s accounts, at no charge to the individual. 
•    The service is to be provided even when the payee does not have an account with the financial institution, but in accordance with the bank’s procedures for verifying the identity of the individual.
4. Investment services
•    Bank shall provide an automatic investment service to invest available funds on an overnight basis. 
•    Acceptable investments shall include: (i) repurchase agreements fully collateralized with direct obligations of the us government or one of its agencies, under which the appropriate “custodian undertaking agreement” has been executed.

- Contract Period/Term: 5 years
- Conference Non-Mandatory Pre-Bid Date: December 2, 2025
- Questions/Inquires Deadline: December 3, 2025