Banking and Money Counting Services
Overview
Fit Score
Settle Intelligence
Settle helps teams find, evaluate, and respond to public RFPs. We continuously surface new opportunities, score them against your company strengths, and draft proposal responses so you can focus on the work that wins business.
SUMMARY
DESCRIPTION
The government authority located in Woodbridge, New Jersey is seeking a vendor to provide banking and money counting services under a three-year contract. The selected contractor will establish two deposit accounts for funds counted and collected in connection with the contract, including an account used exclusively for cash toll revenue deposits.
Required banking services include electronic daily balance reporting, wire or ACH transfers, and daily File Transfer Protocol (FTP) delivery of standard Electronic Data Interchange (EDI) and Bank Administration Institute (BAI) files to the agency's designated drop box. The contractor will also be responsible for depositing verified funds into the appropriate agency toll revenue account after confirming the final deposit amount.
The scope also includes money counting services performed at least five days per week. The vendor must count, verify, and report the contents of each money bag and coin collection box delivered by the armored car service. In addition, the bank must maintain at least ten full-service branch offices within the agency's service area.
Source attribution
This Settle analysis is based on the issuing organization’s public RFP listing.