DOCUMENT

RFP - Banking & Depository Services 2012

  • YEAR CREATED: 2012
  • ENTITY TYPE: County
  • TYPE OF DOCUMENT: RFP - Request for Proposals
The document is a request for proposal (RFP) from a county seeking banking services. The county is looking for a cost-effective banking structure that can handle a large number of accounts. They are interested in alternatives to sweeps during low interest rate environments and want to know if the bank offers any internal accounts or rate floors on liquid funds. The county requires web-based, automated cash management services and daily balance reporting. They also want imaging of all checks and deposit items, as well as statements and account analyses in electronic form. The county wants access to downloadable information and minimum online services should include balance reporting, stop pays, account transfers, ACH, and wire transfers. The bank's online service capabilities and systems are requested, along with examples. The county wants to know about the availability of historical transactions and reports, as well as the ability to retrieve and download historical images. They also want to know about the bank's off-site backup and continuation of services in disaster situations. The security protocol for online services is requested, along with information about technical support. The county requires 24-hour deposit capability and wants to know the bank's daily cut-off time for same-day ledger balance verification. They also want to know if a provisional credit is given on deposits before check verification and how deposit reconciliation is handled. The bank's process for handling return items and their requirements for rolling coins are also requested. The county wants to know when daily check clearing information is available online and if the bank images all checks. They also want to know if the bank is willing to reimburse or purchase new checks. The county currently uses wires and internal transfers and wants to know if these transactions can be initiated and monitored online. They also want to know if repetitive templates can be created and stored and if future dating of wires and transfers is available. The bank's policy on the use of ledger balances for outgoing wires is requested, as well as information on processing internal account transfers and any associated fees. The county is interested in the bank's imaging process and what items are captured. They also want to know what images are available online and for how long, as well as if all images and reports are downloadable. The county asks if a monthly CD is provided. ACH services are mentioned, primarily used for payroll direct deposit and some vendor payments, but no specific questions are asked about them.
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