Posted Date : June 28,2019
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-1537
Government Authority located in Milton, Georgia; USA based organization looking for expert vendors for Banking Services.
[A] Budget: Looking for proposal
[B] Scope of Service:
(1) Vendor needs to provide Banking Services the objectives are to obtain the required services at the most favourable cost consistent with efficient operation and to optimize return on available cash flows for the benefit of the City.
- The financial institution must maintain a full-service branch network with depository facilities physically located within Fulton County. The Bank must have a branch located within ten miles of driving distance from city.
- Must be federally or state-chartered bank qualified to do business and accept public deposits in the State.
- Funds collected daily by the various City departments and agencies will be deposited into the appropriate accounts. Returned checks are to be re-deposited a second time before charging back to the City. All US obligation security maturities and coupon flow, on-us checks, and wires will be made to the accounts for immediate credit. All credits will be posted before debits and checks. There shall be no charge to the receiving account for incoming wires, book transfers, or ACH-originated credits. All checks, warrants and drafts drawn on the awarded bank and government checks (U.S., State and Local) will be deposited into the appropriate account for same-day availability.
- Proposing financial institution should provide bank’s policy on receiving same day credit on deposits, state whether availability policies differ from Federal Reserve Bank availability schedule and describe how availability of deposited items is determined and calculated. Provide copy of availability schedule.
- Reporting o Daily balance reporting – summary and detail, with check detail and images
o Daily ACH and wire with full addenda information
o Current day reporting
o Detailed monthly analysis statement for each individual account and a consolidated statement showing charges for all account services
o Intra-day reporting (real time or delayed),
o All reports can be converted to Excel or comma-separated values (CSV) format
• Execution of Transactions o Transfers between accounts
o Initiation of wire transfers
o Initiation of stop payment orders
o Positive pay actions including time requirements
o Stale-dating of checks
o Confirmations availability and format
• Internal Controls o Online cleared check information/images
o Multi-level security administration requirements (self-administration preferred)
o Positive pay reports (including imaging of exception items)
o Training of government’s system administrator for managing access
The proposing financial institution must be able to provide fraud prevention services including positive pay capabilities for all the City’s accounts to the government authority located in Milton, GA.
(2) All question must be submitted no later than July 9, 2019.
(3) The contract term will be for five years.
[C] Eligibility:
Onshore (USA Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: July 18,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
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Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-1537
Government Authority located in Milton, Georgia; USA based organization looking for expert vendors for Banking Services.
[A] Budget: Looking for proposal
[B] Scope of Service:
(1) Vendor needs to provide Banking Services the objectives are to obtain the required services at the most favourable cost consistent with efficient operation and to optimize return on available cash flows for the benefit of the City.
- The financial institution must maintain a full-service branch network with depository facilities physically located within Fulton County. The Bank must have a branch located within ten miles of driving distance from city.
- Must be federally or state-chartered bank qualified to do business and accept public deposits in the State.
- Funds collected daily by the various City departments and agencies will be deposited into the appropriate accounts. Returned checks are to be re-deposited a second time before charging back to the City. All US obligation security maturities and coupon flow, on-us checks, and wires will be made to the accounts for immediate credit. All credits will be posted before debits and checks. There shall be no charge to the receiving account for incoming wires, book transfers, or ACH-originated credits. All checks, warrants and drafts drawn on the awarded bank and government checks (U.S., State and Local) will be deposited into the appropriate account for same-day availability.
- Proposing financial institution should provide bank’s policy on receiving same day credit on deposits, state whether availability policies differ from Federal Reserve Bank availability schedule and describe how availability of deposited items is determined and calculated. Provide copy of availability schedule.
- Reporting o Daily balance reporting – summary and detail, with check detail and images
o Daily ACH and wire with full addenda information
o Current day reporting
o Detailed monthly analysis statement for each individual account and a consolidated statement showing charges for all account services
o Intra-day reporting (real time or delayed),
o All reports can be converted to Excel or comma-separated values (CSV) format
• Execution of Transactions o Transfers between accounts
o Initiation of wire transfers
o Initiation of stop payment orders
o Positive pay actions including time requirements
o Stale-dating of checks
o Confirmations availability and format
• Internal Controls o Online cleared check information/images
o Multi-level security administration requirements (self-administration preferred)
o Positive pay reports (including imaging of exception items)
o Training of government’s system administrator for managing access
The proposing financial institution must be able to provide fraud prevention services including positive pay capabilities for all the City’s accounts to the government authority located in Milton, GA.
(2) All question must be submitted no later than July 9, 2019.
(3) The contract term will be for five years.
[C] Eligibility:
Onshore (USA Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: July 18,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$