The City of Denton, Texas is seeking a vendor to provide comprehensive bank depository services. The scope of work includes utility lockbox services for collecting and processing the city's utility billing revenues year-round. The selected provider must be able to accept monthly billing transmission files from the city, validate each customer account, occupancy code, owner name, billing address, and amount, and return validated transmission files.

The vendor must also offer electronic lockbox services, including HIPAA-compliant processing for the City's EMS ambulance billing revenues. Additional requirements include the capability for remote deposit capture or desktop deposit, converting checks to ACH payments for priority processing. As the city grows, more departments may require remote deposit functionality.

Proposers should provide a detailed explanation of their policies and methodologies for setting commercial account interest rates, specifying the calculation method, notification process for rate changes, and rate basis (e.g., T-bill discount or yield rate). The online banking system provided must support full user management, multi-factor authentication, and the capability to cancel submitted wire transfers, or explain the process if cancellation is not system-supported. The contract term is five years.