The Vendor is required to provide centralized banking services as the primary depository of the agency.
- Provide to the agency full service banking capabilities for the required unemployment security benefit and clearing accounts.
- The selected bank will contract with the agency but will provide services primarily through the state office.
- The services requested include
• The immediate, secure deposit and transfer of funds;
• The availability of funds to meet the obligations of the agency;
• The accurate and satisfactory collateralization of all funds;
• The immediate and adequate accounting for all funds; and
• Compliance with all applicable laws, rules and regulations of federal and state governing bodies.
- The unemployment security benefit account and the unemployment security clearing account.
- Unemployment security benefit account— this account serves to pay benefits to unemployment benefit recipients for the state
- Unemployment security clearing account - this account is used for processing unemployment insurance taxes collected by the state from employers throughout the state.
- Taxes are remitted by ach or by check to the employment security division.
- Checks that are not able to be scanned are then delivered to the state treasurer for deposit into the designated bank.
- Account analysis is attached.
- Deposit services
• The bank shall agree to credit the account with the amount shown on deposit tickets. 
• The bank agrees to notify by telephone the designated cashier in the controller’s office – treasurer’s office of any discrepancy in the deposit. 
• Adjustments must be agreed upon by the designated cashier and the bank.
• The bank shall provide hardware and software for electronic deposits of checks. 
• Equipment set up and training shall be provided prior to the live date of service.
• Account analysis statements will be provided monthly to the agency, state treasurer’s office, and pooled money investment board. 
• This may be provided electronically.
• The bank shall agree to process all returned checks a second time before returning them to the agency. 
• The bank shall charge the account for the amount of the returned checks. 
• The bank will make the returned-check images available electronically via the on-line banking tool.
• The bank shall provide such other equipment and supplies as may be required to provide the level of service specified by the agency.
• The bank shall provide research services relative to account activity.
• Online banking—the bank shall provide online banking services that include the ability to process electronic fund transfers on a daily basis, wire transfers, remoted deposit of checks, currency deposits and review of account information.
- The bank shall provide to the authorized representative of the agency and the state treasurer’s office a detailed bank statement of all debits and credits, and include all supporting documentation, within five (5) business days following the last day of each calendar month.
- The bank shall wire transfer funds to the state operating account on a daily basis. 
- Wire amount is to be determined by the agency. 
- Confirmation of all wire transfer of funds shall be sent to the agency. 
- This may be via the on-line banking tool.
- The bank shall agree to process foreign wire transfer of funds at the request of the agency.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: June 26, 2025