Banking Services

This Request for Proposals (RFP) seeks comprehensive banking services for County of Volusia, Florida, including both County operations and Constitutional Officer accounts. The County requires a full-service banking relationship encompassing multiple specialized accounts including a Pooled Cash Account for daily balance concentration, zero-balance accounts for Accounts Payable and Payroll with positive-pay protection, utility payment processing accounts, corrections inmate funds management, and operational accounts for facilities like the Corrections. Additionally, the RFP includes separate banking services for the Tax Collector, Supervisor of Elections, and Property Appraiser, along with various other specialized accounts for specific County functions.

The banking services must include modern technology requirements such as web-based account access with dual-factor authentication, comprehensive online banking capabilities including wire transfers and ACH processing, electronic payment processing, remote deposit capture services, and positive-pay fraud protection. The selected bank must provide detailed monthly reconciliation services, maintain a centralized vault for deposit processing within specified Florida counties, supply banking materials and supplies, and deliver emergency banking services within 24 hours of disaster events. The RFP emphasizes eliminating float time, maximizing interest earnings through sweep arrangements, and ensuring secure, efficient processing of approximately 2,800 direct deposit payroll transactions biweekly and 75-125 weekly ACH vendor payments.

The County seeks innovative banking solutions and partnership arrangements beyond the specified requirements. The successful respondent must demonstrate capabilities in government banking, regulatory compliance, and the ability to serve the County along with multiple Constitutional Officers with varying operational needs while maintaining appropriate segregation of funds and reporting responsibilities.

NOTE: Merchant Services, P-Card, and E-Payables are currently utilized by the County via separate contracts and when referenced in this RFP, they are supplemental to the primary banking services.