Lockbox Banking Services for Utility Payment Processing Request for Proposal

The City of Georgetown seeks proposals from qualified financial institutions to provide lockbox banking services for the collection and processing of utility payments. The contract will cover secure handling of incoming payments, timely posting to accounts, reconciliation, and reporting, with the goal of improving cash flow and operational efficiency. • Provide secure, centralized lockbox facilities for utility payment receipts • Process, verify, and post payments to the city’s accounts accurately and promptly • Deliver detailed transaction reporting and reconcile daily balances • Ensure compliance with applicable banking and security standards • Offer ongoing customer support and service level agreements for the duration of the contract