Banking, Merchant, And Commercial Card Services
ID: RFP 27-001
• State: Maryland
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Description
Background
Cecil County, Maryland is seeking proposals from qualified financial institutions to provide general banking services, including merchant card services. The County aims to evaluate its current banking environment and establish a contract with a financially secure institution that meets its needs while leveraging the latest technology for improved efficiency.
The existing contract for banking services will expire on June 30, 2026, and the new contract will have an initial term of one year with up to seven one-year renewal options. The objectives include obtaining cost-effective services, maximizing technology use, exceeding current service levels, and ensuring strong fiscal management controls.
Work Details
The scope of work includes primary banking services, merchant services, and commercial card services. Proposals may cover one or multiple parts of the service. Key requirements include:
- Banking operations covering all finance functions including DDA and Lockbox services.
- A preference for a single vendor for all banking needs but may split among multiple banks if necessary.
- Services must include traditional banking operations such as ACH transactions, wire transfers, check processing, and prepaid card issuance for small payments.
- Implementation of a lockbox service for real property tax collection during peak periods.
- Integration with existing financial software (Tyler MUNIS) for seamless transaction processing and reporting.
- Proposers must demonstrate compliance with legal requirements including FDIC insurance and local deposit protection laws.
Period of Performance
The contract period will begin upon award anticipated on August 1, 2025, with implementation starting August 18, 2025. Services are expected to commence on July 1, 2026.
Place of Performance
The primary location for performance is Cecil County Administration Building at 200 Chesapeake Blvd., Elkton, MD 21921. All operations are currently based in Maryland.
Cecil County, Maryland is seeking proposals from qualified financial institutions to provide general banking services, including merchant card services. The County aims to evaluate its current banking environment and establish a contract with a financially secure institution that meets its needs while leveraging the latest technology for improved efficiency.
The existing contract for banking services will expire on June 30, 2026, and the new contract will have an initial term of one year with up to seven one-year renewal options. The objectives include obtaining cost-effective services, maximizing technology use, exceeding current service levels, and ensuring strong fiscal management controls.
Work Details
The scope of work includes primary banking services, merchant services, and commercial card services. Proposals may cover one or multiple parts of the service. Key requirements include:
- Banking operations covering all finance functions including DDA and Lockbox services.
- A preference for a single vendor for all banking needs but may split among multiple banks if necessary.
- Services must include traditional banking operations such as ACH transactions, wire transfers, check processing, and prepaid card issuance for small payments.
- Implementation of a lockbox service for real property tax collection during peak periods.
- Integration with existing financial software (Tyler MUNIS) for seamless transaction processing and reporting.
- Proposers must demonstrate compliance with legal requirements including FDIC insurance and local deposit protection laws.
Period of Performance
The contract period will begin upon award anticipated on August 1, 2025, with implementation starting August 18, 2025. Services are expected to commence on July 1, 2026.
Place of Performance
The primary location for performance is Cecil County Administration Building at 200 Chesapeake Blvd., Elkton, MD 21921. All operations are currently based in Maryland.
Overview
Agency
Opportunity ID
RFP 27-001
Response Deadline
June 10, 2025
Past Due
Date Posted
March 6, 2025
Source
Est. Value Range
Experimental
$5,000,000 - $15,000,000
(AI estimate)
Agency Distribution
High
On 3/6/25 Cecil County in Maryland issued Banking, Merchant, and Commercial Card Services with ID RFP 27-001 due 6/9/25.
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Documents
Posted documents for Banking, Merchant, And Commercial Card Services
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