Banking Services

The Vendor is required to provide comprehensive banking services.
- Establish a relationship with a financial partner capable of support the district’s cash management, transaction processing, fraud prevention needs in a secure, cost-effective, and technologically forward matter.
- Wire Transfer Services
•    Policy on daylight overdrafts, including aggregation of accounts and wire deadlines.
•    Ability of district to initiate and monitor wire transfers online
•    Ability to create and store future-dated wire instructions
•    Security measures for wire initiation and approval
•    On average, send 2 wires per year.
- Automatic Clearing House (ACH)
•    The district primarily utilizes this service to fund payroll through a third-party vendor and to pay utility expenses. 
•    As we continue to refine our accounts payable processes, we anticipate increased use of this service moving forward.
•    On average the district sends 3,000 ACH per year and receives on average 200 ACH per year.
•    Method by which the district can submit ACH files or initiate ACH via bank software.
•    Pre-notification policy and cost.
•    Re-presentment of checks (RCK) through ACH on a targeted date
•    Security measures for ACH initiation/origination and ACH reception (ACH filters and blocks)
- Availability of Funds
•    Describe availability of funds and does this differ from Federal Bank availability schedule.
•    Provide the bank’s policy on receiving same day credit for deposits and is expedited availability offered.
- Monthly Statements and Account Analysis 
•    The district operates on a 10-day month-end cycle, with financial reports expected to be delivered to the executive team no later than the 12th of the month. 
•    To meet this timeline, it is essential that account statements are made available in a timely manner
•    When reports are available and how they are made available (please include example of a report)
•    How long report images are maintained online
•    The bank’s dispute resolution process
- Remote Deposit Services including Check Truncation and Check Conversion and Deposit Services
•    Deposits are currently made remotely unless a cash deposit is needed, in which the nearest bank is utilized for such services.
•    Scanning equipment (lease options), software, transfer procedures, batching, and security
•    Portal entry or standard alone service
•    Deadlines for same day credit of deposits
•    Document retention polity for checks converted to ACH or processed via remote deposit capture
•    Liability for fraudulent deposit items
•    Cutoff times and requirements by location
•    Discrepancy and write off policies
•    Deposit locations
•    Deposit reconciliation services availability
- Lockbox
•    The Emergency Medical Services (EMS) utilizes a lockbox for payment on services provided.
•    The expectation would be to obtain a copy of the check, payment remittance and correspondence.
•    Deadline and format of data transmission
•    Current lockbox address and location requirements
•    Breakdown on wholesale versus retail processing
•    Locations of processing centers
•    Handling of process able items or return items
•    How processing errors are resolved and expected timeframes for resolution
•    Remittance document layout requirements
•    Timing requirements
•    Transmission requirements
•    Treatment of exception (non-standard, un-process able, walk-in) items
•    Imaging capabilities
•    Conversion of consumer checks to ACH payments
•    Disposition of documents (including imaging capabilities and truncation)
- Online Banking Services
•    Provide thorough information of the online banking services including but not limited to daily reporting, format of reporting, transaction execution, internal controls, and API access for integration with the districts ERP system, currently MIP.
•    Please provide outline of training for these services and supports provided after implementation.
- Purchasing Card Services
•    The district currently utilizes two separate financial institutions, one for daily banking needs and another for managing district-issued credit cards. 
•    While there are no immediate plans to change this structure, we are requesting a detailed overview of the services your institution provides in both areas. 
•    Additionally, please outline the potential advantages of consolidating daily banking and credit card services under a single provider. 
•    Currently the district holds 25 cards with a $300K credit limit.
- Fraud Protection Services
•    Positive Pay
o    Positive pay services and verification items 
o    Teller data update schedules 
o    Data transmission methods and time windows 
o    Control options – notification default 
o    Internet/Online access (including technical capabilities and system requirements)
•    Stop Payment Services
o    Online stop payment services (initiation and renewal)
o    Confirmation requirements
o    Duration of a stop payment (6 months or in perpetuity) and renewal processing options
- Customer Service and Support
•    Dedicated relationship manager
•    24/7 support for critical issues
•    Training for staff during and after implementation.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: August 1, 2025