Banking and Purchasing Card and Merchant Services

The Vendor is required to provide a comprehensive agreement for banking services, purchasing card services, and merchant services to support the financial operations of the district.
- The District manages significant daily cash balances, high transaction volumes, and complex fund structures requiring institutional-grade banking services, advanced fraud controls, and real-time visibility across all accounts.
- Core Banking Services
•    Primary operating accounts with zero balance account structures and must have the ability to set and automatically manage target balances within specified linked accounts.
•    Automated Clearing House (ACH) origination and receipt capabilities.
•    Wire transfer services for domestic and international transactions.
•    Positive Pay services for all disbursement accounts to prevent fraudulent activity.
•    Account reconciliation services with daily reporting and exception reporting for unverified transactions.
•    Online banking platform with real-time account access and transaction monitoring.
•    Lockbox services for payment processing and receivables management.
•    Remote deposit capture services for all school locations and administrative offices.
•    Services must comply with all federal, state, and local banking regulations, including FDIC requirements, state collateralization rules, and applicable reporting standards.
•    Must provide true zero balance account structures with automated end-of-day sweeps.
•    Manual transfers, delayed batch processing, or non-ZBA alternatives shall not be considered acceptable substitutes.
•    Must clearly disclose daily processing and cutoff times for ACH, wires, sweeps, and deposits, including same-day availability standards.
- Cash Management Services
•    Daily automated sweep services between operating, concentration, and investment accounts to maximize interest earnings and ensure fund utilization.
•    Investment sweep options for overnight and short-term investment of idle funds with real-time reporting on balances and yields.
•    Concentration account services for centralized fund management.
•    Detailed cash position reporting with forecasting capabilities.
•    Electronic statements with check imaging, electronic document retention services, and search functionality to enable audit preparation and historical reporting.
•    Configurable user permissions and hierarchical authorization structures with separation of duties, audit trails, and role-based access.
•    Automated alerts for unusual account activity, ACH blocks, and positive pay integration to minimize exposure to unauthorized transactions.
•    Connectivity with the District’s Enterprise Resource Planning (ERP) Systems to support real-time posting, reconciliation, and reporting.
•    Reporting capabilities to support internal and external audits, including historical transaction archives and automated compliance checks.
- Additional Banking Requirements
•    Collateralization of deposits in accordance with Florida Statutes.
•    The Proposer shall support remote deposit capture for all designated District locations, including schools and administrative sites, with standardized equipment, training, and technical support.
•    Secure courier services for deposit pickup at designated locations and maintain tracking and chain-of custody protocols to ensure funds are transported and deposits are recorded accurately. Additional insurance requirements may be required, and will be negotiated with the Proposer.
•    Dedicated relationship management team with education-sector expertise.
•    Monthly account analysis statements with transparent fee structures.
•    Disaster recovery and business continuity protocols.
- Manual uploads or third-party workarounds shall not be considered compliant. Services must include, at a minimum:
•    Individual card limits with transaction and monthly spending controls
•    Configurable per-card and per-department transaction limits, as well as daily and monthly spending caps. The program must support dynamic adjustments based on the District’s needs.
•    Customizable approval workflows aligned with the District’s organizational structure, enabling preauthorization for purchases above designated thresholds. Multiple approval hierarchies based on organizational structure.
•    Real-time transaction monitoring and alerts.
•    Customizable merchant category code (MCC) blocking capabilities.
•    Ghost card and virtual card options for specific purchasing scenarios.
•    Comprehensive card management portal for program administrators.
•    Full featured Expense Report Management (ERM) tool integrated with the purchasing card system.
- Cardholder Services and Features
•    EMV chip technology for enhanced security.
•    Customized card design with District branding.
•    Level III data capture for enhanced reporting and tax compliance.
•    Automatic billing and payment processing aligned with District cycles.
•    24/7 customer service support for cardholders.
- Merchant Services
1. Payment Processing Capabilities
•    Point-of-sale terminal deployment at school cafeterias, bookstores, and administrative offices.
•    Virtual terminal capabilities for phone and mail order transactions.
•    Integrated payment gateway for online payments through District websites.
•    Mobile payment processing solutions for athletic events and field trips.
•    Recurring payment capabilities for extended day programs, student fees, and meal accounts.
2. Payment Methods and Security
•    Credit and debit card processing for all major card brands.
•    ACH payment acceptance for electronic check processing, including verification and automated posting to the District’s financial system.
•    Digital wallet acceptance and mobile payment support, such as Apple Pay, Google Pay, Samsung Pay, and other frequently used platforms.
•    Payment Card Industry Data Security Standard (PCI DSS) compliance with quarterly security scans, annual assessments, and adherence to all applicable payment card industry standards.
•    Point-to-point encryption (P2PE) for all card-present transactions.
•    Tokenization services to safeguard payment credentials, reduce fraud risk, and maintain compliance with data security regulations.

- Contract Period/Term: 1 year
- Pre-Submittal Meeting (Voluntary & Online) Date: January 6, 2026
- Questions/Inquires Deadline: January 9, 2026