RFP #Banking Services

Background
The City of Petersburg, Virginia is issuing this Request for Proposal (RFP No. 78650) to solicit sealed proposals from qualified banking institutions to establish a multi-year contract for comprehensive banking services. The contractor must comply with all requirements of the Code of Virginia and be a federally chartered bank approved as a depository for City funds.

The goal is to enhance the City's financial operations through effective banking services.

Work Details
The contractor will provide a range of banking services including, but not limited to:
- ACH Origination Services
- Demand Deposit
- Treasury Manager Services
- Image Cash Letter
- Online Courier Services
- Online Check Deposit
- Lockbox Services
- Branch/Cash Vault Services
- Account Reconciliation
- Positive Pay
- Check Sort
- CD ROM
- ACH Fraud Control
- EDI Reporting Services
- Wire Transfer
- Overdraft Protection.

Additionally, the contractor must maintain a capital structure sufficient to support deposits of up to one hundred million dollars and protect the confidentiality of the City's proprietary data. The contractor will also be responsible for providing two ATMs at specified locations and may offer a Tax Anticipation Note not exceeding $6 million.

Period of Performance
The initial term of the contract will be three years (36 months) from the commencement date with options for two additional one-year renewals.

Place of Performance
The services will be performed within the City of Petersburg, Virginia.