Banking and Electronic Funds Services

The City of Tulsa Finance Department is seeking a single vendor to provide comprehensive depository banking, cash‑vault, disbursement, and lock‑box processing services for its utilities and First‑Response Alarm programs under a Competitive Sealed Proposal. The contract will cover full‑service banking (including interest‑bearing accounts, ACH/EFT, payroll, wire transfers, Positive Pay, and cash‑management) and three categories of lock‑box services (retail, wholesale, electronic) with high transaction volumes and strict reporting requirements. The successful bidder must meet stringent capital (minimum $200 M) and collateral (≥ 110 % of deposits beyond FDIC coverage) thresholds, maintain a satisfactory CRA rating, and provide dedicated account management. The contract term is one year with up to five optional one‑year renewals, and the City will pay fees on a monthly or quarterly basis without direct debits from its accounts. • Full‑service depository banking for 24 interest‑bearing checking accounts, ACH/EFT, payroll, wire, and Positive Pay. • Lock‑box processing of ~ 334 k retail items, ~ 11 k wholesale items, and ~ 200 k electronic items annually, with daily electronic file delivery and 24‑hour funds availability. • Vendor must be “Adequately/Well Capitalized” ($200 M minimum), provide collateral covering roughly $100‑$150 M daily balances, and maintain a CRA rating of at least “Satisfactory.”