The purpose of this RFP is to: • Select a financial institution to provide secure, efficient, and responsive depository services • Maximize the City’s cash management practices • Provide competitive pricing and earnings for City funds • Ensure proper collateralization of public funds • Ensure compliance with Texas law • Support daily financial operations of the City; The selected bank shall provide, at minimum, the following: A. Account Services • General operating accounts • Payroll account • Utility payment accounts • Bond accounts (if applicable) • Interest-bearing accounts • Zero-balance accounts (if needed); B. Treasury Management • Online banking with multi-user permission controls • ACH capability (receipts and disbursements) • Wire transfers (domestic & international) • Remote deposit capture • Positive pay and ACH fraud protection • Night drop services • Digital imaging of checks & deposits • Monthly account analysis; C. Merchant Services • Ability to process credit/debit card payments • Compliance with PCI requirements; D. Branch and Accessibility Requirements • Local branch within reasonable proximity • Drive-thru service preferred • Same-day credit for deposits received by cutoff; E. Reporting & Support • Dedicated relationship/account manager • Monthly analysis statements • Training for City staff
