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BANKING-1742 - USA (Essex, Connecticut) - Banking Services - Deadline November 1,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BANKING-1742

Government Authority located in Essex, Connecticut; USA based organization looking for expert vendor for banking services.

[A] Budget: Looking for Proposal

[B] Scope of Service:

Vendor needs to provide banking services to the government authority located in Essex, CT.
- The town currently has nine separate accounts
- The general fund checking account serves as the primary operating account and maintains the required compensating balance
- All other funds not needed for disbursing sweep to the Investment account
- Our interest-bearing investment account serves as the master account for the zero-balance account relationship with the general fund, special revenue, capital, and agency funds
- Deposit Services:
- The bank shall include all deposits received at any of its branches up until regular bank closing time in the determination of the town demand account ledger balances for the same day
- Investment Services:
- The town will endeavour to use the service of the operating bank for all normal and traditional banking activity; however, the banking services contract shall not be an exclusive contract nor shall the contract preclude the town from obtaining service from any other bank or financial institution
- Wire Transfer Service:
- Wire services credit and debit notices must be mailed to the town within 24 hours following transactions
- Check Services:
- The bank is unable to provide sufficient evidence, of whatever nature, that the missing check was cashed or otherwise negotiated and presented to the bank for payment
- On-line Access:
- Place and remove stop payments
- Place wire transfers
- Obtain the balance of all accounts daily
- Obtain float information
- Research status of checks
- Deposit imaging for all items included in each deposit
- Returned Item imaging for all returned items
- Direct Deposit of Payroll:
- The board of education processes a biweekly payroll with 75 direct deposit transactions for 80+ employees paid.
- Courier Service:
- Upon delivery of the deposits to the bank courier, said deposits are considered to be in the possession of the banking institution
- Electronic Funds Transfer:
- For checks issued by the town and converted by the payee to electronic funds transfer, how is the information captured on the full reconciliation or on the archival and CD-ROM media

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

not applicable

Expiry Date : Friday, 1 November, 2019

Category : Banking Services

Country : USA

State : Connecticut

RFP Expired

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