Posted Date : October 24,2020
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-2680
Government Authority located in Warwick, Rhode Island; USA based organization looking for expert vendor for banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide full range of depository and banking services to the government authority located in Warwick, RI.
A. General Fund Account-Main Checking Account
- Normal demand deposit account through which all deposits are made, checks will be written, and ACH/wire transfers will be initiated.
- Deposits consisting of cash, coin, checks and credit card and e-check payments are made daily.
- Disbursements are made through checks and wire transfers. The general fund issues an average of 850 accounts payable checks per month.
- The General Fund will be an interest bearing account.
- Deposits accepted and or received by 4:00 pm will be credited to the account on that same day.
B) Payroll Account
- The City processes the payroll weekly for approximately 850 employees. On average, the City processes approximately 850 payroll checks each month and 2,975 direct deposit (ACH) transfers. Direct deposits will be electronically transferred to the bank. The Bank will be required to confirm receipt of the file and verify transfer totals. It is the responsibility of the bank to properly disburse all direct deposit funds. The funds must be available to the employees at their respective banks at the time of opening on the date of payment. The City is interested in the minimum necessary lead time for this process
- The bank will provide electronic transfer of federal and state tax payments.
- Daily Balance and Transaction Reporting.
- Online balance reporting system by 8:00 am each day.
- The Payroll account will be interest bearing.
- Cancelled checks reports will be provided in an electronic format.
C.) Warwick School Department Accounts
- The City will require that similar accounts be set up for the Warwick School Department. These accounts will include a payroll account and an accounts payable account. The school department averages approximately 2,000 payroll checks, 3,300 direct deposit (ACH) transfers, and 600 accounts payable checks per month. The School Department accounts will be placed under the City’s umbrella and will be included in the monthly fee calculation.
D.) Rescue Service Lockbox
- The City also maintains a Rescue Service Lockbox account. All rescue services fee payments are remitted to the lockbox, along with supporting documentation. The Bank is required to process the payments and to forward copies of all documentation to the City’s rescue billing administrator.
- For more information describe in document.
[C] Eligibility:
- Onshore (USA Organization 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: November 10,2020
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-2680
Government Authority located in Warwick, Rhode Island; USA based organization looking for expert vendor for banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide full range of depository and banking services to the government authority located in Warwick, RI.
A. General Fund Account-Main Checking Account
- Normal demand deposit account through which all deposits are made, checks will be written, and ACH/wire transfers will be initiated.
- Deposits consisting of cash, coin, checks and credit card and e-check payments are made daily.
- Disbursements are made through checks and wire transfers. The general fund issues an average of 850 accounts payable checks per month.
- The General Fund will be an interest bearing account.
- Deposits accepted and or received by 4:00 pm will be credited to the account on that same day.
B) Payroll Account
- The City processes the payroll weekly for approximately 850 employees. On average, the City processes approximately 850 payroll checks each month and 2,975 direct deposit (ACH) transfers. Direct deposits will be electronically transferred to the bank. The Bank will be required to confirm receipt of the file and verify transfer totals. It is the responsibility of the bank to properly disburse all direct deposit funds. The funds must be available to the employees at their respective banks at the time of opening on the date of payment. The City is interested in the minimum necessary lead time for this process
- The bank will provide electronic transfer of federal and state tax payments.
- Daily Balance and Transaction Reporting.
- Online balance reporting system by 8:00 am each day.
- The Payroll account will be interest bearing.
- Cancelled checks reports will be provided in an electronic format.
C.) Warwick School Department Accounts
- The City will require that similar accounts be set up for the Warwick School Department. These accounts will include a payroll account and an accounts payable account. The school department averages approximately 2,000 payroll checks, 3,300 direct deposit (ACH) transfers, and 600 accounts payable checks per month. The School Department accounts will be placed under the City’s umbrella and will be included in the monthly fee calculation.
D.) Rescue Service Lockbox
- The City also maintains a Rescue Service Lockbox account. All rescue services fee payments are remitted to the lockbox, along with supporting documentation. The Bank is required to process the payments and to forward copies of all documentation to the City’s rescue billing administrator.
- For more information describe in document.
[C] Eligibility:
- Onshore (USA Organization 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: November 10,2020
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$