Banking Services

Overview

Financial, Legal, HR & Staffing

Smyrna, Georgia, United StatesPosted about 2 months agoDeadline: April 10th, 2026

Fit Score

Settle Intelligence

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SUMMARY

The City of Smyrna, Georgia, is soliciting proposals for comprehensive banking services, including account management, transaction processing, and ACH services.

KEY REQUIREMENTS

Proposals must be submitted electronically via BidNet Direct.
Proposer must be a qualified depository for public funds pursuant to Georgia Law.
Banking institutions must have full-service business operations within the City of Smyrna or within five miles of City limits.
Proposer must not operate through an intermediary bank for any services.
Submit financial statements for the past two years (audited) and bank rating information or quarterly call reports.
Enter a depository agreement to pledge collateral (110% of expected monthly depository balances) for funds exceeding FDIC coverage.
Collateral must be specifically pledged to the City and placed in a custodial account (Federal Reserve Bank, trust department, or other financial institution).
Custodian of collateral cannot be owned or controlled by the depository institution or its holding company unless it is a separately operated trust institution.
Custodian must send monthly statements of pledged collateral to City Finance.
Designated account representative or relationship manager with a backup person for customer support.
Staff must have expertise to efficiently and effectively provide a full range of banking services.
Provide a secure, password-protected, web-based reporting system with specific capabilities (backup plan, daily comprehensive reporting, previous day balance/detail for 180 days, online account details with check images, concentration/zero balance reporting, intraday position reporting, return item reporting for ACH payroll, controlled disbursement check presentments by 10:00 AM with 4-hour review, wire transfer/ACH/EFT initiation/authorization, City-originated stop payments, returned items/NSF debited to proper accounts, import/initiate Payroll/AP ACH files, import/initiate 'checks issued' files for Positive Pay/recon).
Establish demand deposit accounts as necessary.
Post deposits and withdrawals in a timely manner with online access.
Provide copies of all debit and credit adjustment memos (email or online report preferred).
Provide all necessary deposit slips at no cost.
Provide secured depository bags.
Provide all software and training necessary to access and utilize online systems.
Disburse funds via repetitive and non-repetitive wire transfer from an online system (preference) or telephonic request.
Accept and send all ACH transactions (payroll, disbursement, deposit) and provide same-day online notification of ACH deposits.
Provide automated online balance reporting services for all City accounts (closing/opening ledger/collected, float, previous day debit/credit detail, ACH detail).
Provide the ability to place online stop payments and cancellations, and access information regarding cleared, canceled, and stopped checks.
Sweep any excess cash balances into an approved overnight investment vehicle after minimum concentration account balance requirements are met.
Utilize Positive Pay services for both the General Fund account and the Payroll account.
Provide monthly activity statements and analysis reports (online access required for both).
Provide the City with the capability to retrieve images online.
Secure City accounts with ACH Blocks and the ability to establish a listing of approved vendors authorized to debit and credit accounts.
Ability to deposit checks remotely through an online platform.
Offer cash depository delivery services or remote deposit options.
Provide overdraft protection services (presented checks paid after City confirmation, no service fee).
Provide online return check item information.
Provide detailed online reports of wire transfers received.
Provide lockbox services for the City's utility services department (traditional and electronic).
Interest shall be calculated for the ending collected balance daily and paid monthly.
Proposer must provide appropriate proof of a current and valid occupational license issued by an agency from within the State of Georgia.
Submit a Certificate of Insurance including Commercial General Liability ($1,000,000 per occurrence), Commercial Excess Umbrella ($2,000,000 combined single limit), Worker's Compensation and Employers Liability ($500,000 per accident), and Automobile Public Liability and Property Damage ($1,000,000 per person, $1,000,000 per accident, $1,000,000 property damage).
Name the City of Smyrna as Additional Insured on the Certificate of Insurance.
Contractor must agree to waive all rights of subrogation against the City.
Comply with the Georgia Security and Immigration Compliance Act (submit affidavits).
Proposals must be signed and dated by an official authorized to bind the banking institution.
Prices must be guaranteed for the initial three-year term of the contract.
If service charges increase in an extended contract period, the Proposer must notify the City in writing six months prior to the increase.
Cash City-created checks without charge to the payee.
No one-time implementation fees unless explicitly included in the pricing proposal.
Explain any fees or assessments for FDIC Insurance and for the use of uncollected funds.
Account analysis must be available electronically via the Internet soon after the close of the billing period.
Describe procedures for adjusting statements and account analysis.
List any additional fees for conversion, training, or other banking services not specifically requested (must be at no additional cost).
Provide a sample invoice for the City account.
Provide long-term and short-term ratings from two nationally recognized rating agencies (Standard & Poor's, Moody's, Fitch) and an IDC rating.
Provide three public references within the State of Georgia (or private references if public are not possible).
Describe a conversion plan to transfer assets, including lead time, education, training, and associated costs.
Provide a copy of all agreements required to initiate banking services.
Provide a detailed description of the implementation process, including testing and a sample schedule.
Indicate lead time required for implementation and critical factors.
Assign an implementation team, including an Implementation Manager.

BUDGET

Estimate

$225,000 – $450,000

CONTRACT DURATION

36 months

TIMELINE

Questions due by March 27th, 2026 at 5:00 PM ET.

Proposals due by April 10th, 2026 at 10:00 AM ET.

QUESTION DEADLINE

March 27th, 2026

Issuing Agency

The City Of Smyrna

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DESCRIPTION

The government authority located in Smyrna, Georgia, is seeking a qualified vendor to provide comprehensive banking services. Required services include monthly account maintenance, the posting of credits, handling deposited items both on-us and transit, remote deposit items, processing checks and other debits, and coin and currency management. The vendor will also be responsible for tasks such as managing returned deposit items, processing incoming domestic wires, and handling ACH transactions comprising credits, debits, returns, and notifications through fax, email, or online channels.

Ongoing account maintenance for DLTY and TM ACH, as well as ACH positive pay services, is necessary. The services must cover the authority’s needs for both transaction processing and necessary reporting. All interested vendors are invited to submit any questions about the RFP by March 27, 2026.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.