Request for Proposals

General Banking Services

Introduction

The City of Cayce invites qualified financial institutions to submit proposals to provide banking services to the City based upon the scope of work contained in the Request for Proposals.

The City seeks to obtain a financial institution to administer the City’s general banking, deposit and custody operations in order to further the following objectives: streamline cash handling, enhance funds availability, increase use of technology to reduce costs and become more efficient at treasury management.

The City’s intent is to select a financial institution to provide the requested services listed within the RFP’s scope of work. Our goal is to consolidate all services into one institution, except that of a lockbox service, which may be awarded to a secondary bank if it is in the best interest of the City. The scope of work may include, but is not limited to, general account services, information reporting, reconciliation, electronic fund transfers, positive pay, controlled disbursement, returned items processing, image capture, lockbox services, investment services, electronic receipt and payment platforms and credit cards for City purchases. The City expects the successful financial institution to review interest rates and Earnings Credit Rates available to the City at least once per quarter.

Receipt of Proposals

The City of Cayce invites proposals until 4:00 pm EST, January 15, 2021 from qualified banks.

Point of Contact:

Kelly McMullen, City Treasurer
[email protected]
1800 12th Street
Cayce, SC 29033

Questions related to the RFP must be submitted by 4:00 pm on December 9, 2020. Questions submitted later may not be answered.

RFP Schedule

  • Request for Proposals Issued - November 13, 2020
  • Notice of Intent to Respond Due Date - December 1, 2020
  • Questions/Clarifications Due - December 9, 2020
  • Responses to Questions Distributed - December 16, 2020
  • Proposals Due - January 15, 2021
  • Interviews of Selected Banks - February 1-2, 2021
  • Intent to Award - February 8, 2021
  • City Council Approval - February 17, 2021

**Last Updated: 11/13/2020**

Updates and Amendments to RFP Information

The City will make every effort to notify prospective bidders of any changes or amendments made to the RFP or the RFP Schedule. In order to guarantee that all prospective bidders receive the updated documentation as soon as possible, please submit the “Intent to Propose” form (attachment 1 in the RFP document) and return it no later than December 1, 2020. The City will utilize all contact e-mail addresses obtained from this form to notify prospective banks of any changes or amendments that have been uploaded onto the RFP website.

Documents

If You Have Questions

  • Kelly McMullen
    City Treasurer
    1800 12th Street
    Cayce, SC 29033
    803-550-9541
    [email protected]