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RFP-comprehensive banking services-110

When:

City of Long Beach
REQUEST FOR PROPOSALS

  I.  INTRODUCTION

      A. General

 The City of Long Beach (the ‘City”) is soliciting request for proposals (RFP) from qualified, experienced, financially sound and responsible firms to provide comprehensive banking services for the City.  The services needed are outlined below.  The scope of services is further defined in Section II.

 

  • Concentration account structure
  • Zero balance accounts
  • Demand deposit accounts
  • Depository service
  • Custodial services
  • Disbursement services/Positive Pay services
  • Electronic Funds Transfer
  • Cash management and investment services
  • Electronic banking/Reporting
  • ATM services
  • Purchase Cards

 

The City of Long Beach currently utilizes credit card providers that charge the customer(s) the fee for using a credit card to pay City fees.  This service will be processed through third-party vendors and is not sought at this time.

 

In selecting a financial institution, the City’s primary goals are to partner with a financial institution that demonstrates quality and responsiveness in its customer service and can demonstrate the local decision making authority available to handle the City’s emergency needs as they arise.

 

Community reinvestment activities will be viewed favorably in the review of proposals.  Sponsorship of or donations to City-related events are encouraged and should be identified in your proposal.

The City of Long Beach utilizes a concentration account structure with zero balance depository accounts.  A detailed description of the current account structure is in Schedule A.  Proposals may include alternate account structure that offer improved efficiency and economy.

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