Banking Services – DOLIR

The State of Missouri is seeking a contractor to provide banking services for the Department of Labor and Industrial Relations. The services include providing a Clearing Account, Benefit Account, and Training Account to process and transfer deposits, provide demand checking accounts for payment of unemployment insurance benefits and training allowances, and other related services. The contractor must have a minimum of five years of experience providing banking services and meet other requirements stated in the RFP. The contract period is for two years, and the contractor must be fully operational within 45 calendar days after authorization to proceed. Key responsibilities include collateralizing 100% of the highest total ledger balance, providing a secure website for connection, and resolving debit and credit discrepancies within 20 calendar days. • The contractor must provide daily and monthly bank statements for each account. • The contractor must provide the "date paid" for each redeemed check. • The contractor must resolve all debit and/or credit discrepancies to the bank statement within 20 calendar days. • The contractor must accept and process paper and/or card stock checks that comply with banking regulations. • The contractor must provide a system that matches the account number, check number, and dollar amounts of each check presented for payment against a list of checks previously authorized and issued by the state agency.