Specifications include, but are not limited to: The District is requesting proposals from qualified financial institutions to provide professional banking services, custodial banking services, and purchasing card (P-Card) services. Currently, the District’s general banking services are provided by Wells Fargo while custodial banking services are provided by U.S. Bank. and credit card services are provided by Zions Bancorporation. The District’s primary objective is to evaluate the current market environment for banking, custodial, and purchasing card services, and establish a new contract with a financially secure financial institution that best meets the needs of the District and offers the highest quality of service at the lowest overall cost. The District would like to create efficiencies, make improvements where possible, and takes advantage of new technologies. Firms may submit proposals for one or more of the desired services. Firms may also partner with another firm to provide a complete, integrated package. The selected banking services provider will be required to work with RT Lawrence who will continue to provide lockbox services. 1. The bank must be a Federal or State of California chartered commercial banking institution. Bank must also perform its obligation under this proposal in compliance with all applicable federal and state laws and regulations, statutes and policies. 2. The bank must be a qualified public depository for public funds pursuant to the applicable State of California codes. All balances must be fully collateralized through the pool of collateral system required by the State of California. 3. The bank will provide the following services: Provide positive pay, electronic fraud protection, online tax payments, electronic deposits and disbursements, online wire entry, online stop payments, cleared accounts payable check files compatible with an ERP system for upload, current and previous day reporting, and sweep accounts.
