The Vendor is required to provide commercial banking services.
- Payment Services
• The university makes payments to a variety of students, staff, and suppliers.
• Payments are made via cheques, eft, wires, and eTransfers.  
• A small number of suppliers also direct-debit the university’s accounts.
• The university also needs to make receiver general tax payments and worker’s compensation board (WCB) payments.
- Cheque cashing services
• The university issues physical cheques.  
• Most of these are system-generated and printed on cheque stock; however, university issues manual, hand-written cheques from time to time.  
• Note that university does not require the physical cheques to be returned to university but does require the ability to view the cashed cheques online.  
- Stop payment services
• Include with your proposal a summary of the timing of stop payment services and university recourse if a cheque with a stop payment is cashed, detailing if this function is provided online or through manual processes.  
• Note that for payroll services, the university occasionally requires the ability to stop one or multiple payments within an uploaded payroll file.
- Stale dated cheques
• Include with your proposal a summary of the process for stale-dated cheques and university recourse if a cheque is cashed after 6 months.
- Electronic fund transfer (EFT) and automated clearing house (ACH)
• Include with your proposal a summary of the university documents required to process and receive eft and ach payments, estimated timeframes, ability to future date payments, and whether you can transact in both state and us funds.  
- Deposits
• University deposits most received cheques through mobile deposit, but still occasionally requires the ability to physically deposit cheques and cash.  
• The university also receives eTransfers.  
• Describe your online deposit process and how long it usually takes for a cheque to clear.  
- Payroll services
• The ability to upload a file generated from the payroll system into the banking system containing eft payment information every two weeks.  
• Approximately 1,150 payments will be included in the file every two weeks.
• Several smaller files are uploaded for off-cycle payments outside of the biweekly cycle.
- Online banking services
• Provide details of online banking security and samples of reports that are available online.  
• Your proposals should include a statement concerning how long reports and other documents are available online.  
• Advise if a positive pay system forms part of your standard offering.  
• Provide details of any training that is available for online banking services.  
• Advise software requirements for online banking services.
- Statements and account analysis
• Please provide a sample of a monthly statement and account analysis reports with your proposal.  
• Please advise if statements and reports can be exported to excel for use in reconciliation.
• University would like bank statements available online for a minimum of one year.
• Comment on when statements are available and how statement disputes are resolved.
• Provide details on bank document retention policy.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: May 20, 2025