Comprehensive Banking Services: a. The selected Offeror (hereinafter referred to as “Contractor”) will serve as the University’s primary cash management partner. Requirements include compliance with FDIC capitalization standards, qualification as a Virginia Public Depository, collateralization of deposits, and maintenance of a branch in Norfolk. The bank must manage multiple demand deposit and zero balance accounts (ZBAs), and process approximately $40 million per month in deposits. b. The Contractor must have the experience and resources to provide comprehensive Banking Services and serve as ODU’s primary cash management partner, with requirements to include: i. compliance with FDIC capitalization standards; ii. qualification as a Virginia Public Depository; iii. collateralization of deposits; iv. maintenance of a branch in Norfolk; and v. The management of multiple demand deposit and zero balance accounts (ZBAs), and process approximately $40 million per month in deposits.
