Request for Applications (RFA) for Bank Depository Services

The City of Beaumont is seeking applications from qualified banking institutions to provide Bank Depository Services. The contract term will be for a maximum of five years, with an initial term of two years and options to extend for up to three additional one-year periods. The City is looking for a bank that can provide a range of services, including online banking, ACH, wire transfers, and cash vault services. The bank will also be required to provide a fee schedule and to comply with various regulations, including H.B. 1295 and H.B. 89. • The City's current account structure and activity are reflected in a table provided in the RFA document. • The City is expecting average monthly balances of around $60 million. • The bank will be required to provide a range of services, including online banking, ACH, wire transfers, and cash vault services. • The bank will also be required to provide a fee schedule and to comply with various regulations, including H.B. 1295 and H.B. 89.