Bank Depository Services

The Vendor is required to provide all banking, treasury, and investment activities as well as accounts payable, receivables, and financial reporting functions.
- The Port does not currently use Remote Deposit Capture services but will consider implementing its use during the contract period. Proposers should describe any Remote Deposit Capture capabilities. The Port will require only one Remote Deposit Capture machine if the Port elects to use this service.
- The Port does not currently accept credit card payments from customers.
- This account receives internal transfers from other District accounts receiving third-party deposits. Funds are transferred to the District’s Vendor, Payroll, and Special Purpose Accounts for settlement of vendor payments, payroll, and balances held separately.
- The clearing account will be used for third party deposits. Online payment processing services is preferred. Online image access and online access to previous day transaction detail is required.
- The vendor disbursement account is used for vendor and other third-party disbursements (other than payroll). Online image access, paid item inquiry, and stop payments are required. Online access to previous day transaction detail is required.
- Online image access, paid item inquiry, and stop payments are required. Online access to previous day transaction detail is required. The District requires that the Applicant accept submission of direct deposits for payroll on Thursday by 4 pm for next-day settlement. The District pays 100% of its employment wages via direct deposit for about 135 employees.
- The account executive should be available to meet with Port staff to review the relationship and discuss depository matters as needed and at a minimum, annually.
- Provide information regarding interest rates, the basis for determining monthly interest rates (interest rate formulas and calculations), costs and minimum balance requirements. Customary monthly bank statements must be provided for all interest-bearing demand accounts.
- Daily balance reporting should include details on all transactions with summary reporting on closing ledger and collected balances, at a minimum.
- The Port expects to continue moving toward more ACH transactions for vendor transactions.

- Contract Period/Term: 2 years
- Pre-Proposal Conference Date: November 18, 2025
- Questions/Inquires Deadline: November 21, 2025