When is the submission deadline?

Submissions are due June 25, 2026. Questions must be submitted by June 17, 2026.

It was issued by City Of Framingham. The work is located in Framingham, Massachusetts, United States.

Who is a good fit for this opportunity?

Financial institutions or banks with experience in lockbox services. Firms with established courier service capabilities in Massachusetts. Providers with expertise in utility billing and payment processing. Experience serving municipal or government clients. Licensed to conduct banking operations in the state of Massachusetts.

Lockbox Banking Services (Due June 25, 2026)

Overview

Financial, Legal, HR & Staffing

Framingham, Massachusetts, United StatesPosted: June 11th, 2026Deadline: June 25th, 2026

Fit Score

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SUMMARY

The City of Framingham seeks a provider for lockbox banking services, including payment collection, processing, and secure transportation between the city offices and a lockbox processing center.

KEY REQUIREMENTS

Must have a minimum of three years of relevant experience providing lockbox services.
Lockbox operation must be physically located within a thirty-mile radius of the City of Framingham.
Must be a member of the Federal Deposit Insurance Corporation (FDIC).
Must be audited annually by an independent certified public accounting firm and receive an unqualified opinion.
Key staff assigned to the contract must have a minimum of three years of relevant experience.
Must maintain a GREEN rating from VERIBANC if a banking institution.
Must provide a zoom demonstration of the technology platform if selected as a finalist.
Must be able to work with the City's online payment company, City Hall Systems, and be compatible with the Munis system.

CONTRACT DURATION

36 months

TIMELINE

RFP available: June 10th, 2026

Questions due: June 17th, 2026

Proposals due: June 25th, 2026

Contract start: July 1st, 2026

QUESTION DEADLINE

June 17th, 2026

Issuing Agency

City Of Framingham

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DESCRIPTION

The City of Framingham, Massachusetts is seeking a qualified vendor to provide lockbox banking services in support of its utility billing and payment processing operations. Residential utility bills are issued quarterly, with approximately one-third of accounts billed each month. Commercial utility bills are billed monthly, with general billings occurring on a weekly basis.

The selected vendor will be responsible for providing courier service one day per week, with an increase to twice per week during the busy season, for transport between the lockbox processing center and the City Treasurer/Collector’s Office. City staff will deliver payments received by mail or over the counter to the courier for secure transport to the lockbox. The vendor must ensure all payments are processed on the same business day they are received, including receiving, opening, identifying, and classifying transactions by payment type. All checks should be properly endorsed and deposited through standard banking channels into the city-designated bank account. Returned checks must be re-deposited at least once. The initial contract period is one year.

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Frequently asked questions

When is the submission deadline?: Submissions are due June 25, 2026. Questions must be submitted by June 17, 2026.
Who issued this RFP?: It was issued by City Of Framingham. The work is located in Framingham, Massachusetts, United States.
Who is a good fit for this opportunity?: Financial institutions or banks with experience in lockbox services
Firms with established courier service capabilities in Massachusetts
Providers with expertise in utility billing and payment processing
Experience serving municipal or government clients
Licensed to conduct banking operations in the state of Massachusetts

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