The Northern Kentucky Area Development District (NKADD) is requesting sealed proposals for banking services. Seven (7) copies of your sealed proposal marked "NKADD Banking Service Proposal" must be delivered to the office of the NKADD, 22 Spiral Drive, Florence, Kentucky 41042 on or before 2:00 p.m. on Thursday, June 6, 2019, at which time the proposals will be publicly opened. Late proposals will not be accepted.
All proposals will be evaluated on the extent of services offered as required by the Request for Proposal, the cost for each service, the amount of interest paid on all accounts, and additional services offered over and above these minimum requirements.
Questions/Comments with Answers
- Please provide a monthly estimate of the volume of activity on your accounts.
- On average, in-flows and out-flows of $1.5 million each.
- Please provide the number of checks, deposits, deposited items, online services, etc.
- NKADD Accounts – Per month
- Approximately 300 AP checks, additionally payroll checks are direct deposited and total about 180 different line items per month
- 8-10 deposits per month via Remote Check Deposit Scanner
- 30-35 deposited ACH items
- 4-5 online transfers between accounts
- Wire transfers (no more than 2 per year)
- CDO Account – Per month
- Approximately 850 payroll checks
- Number of accounts?
- Average monthly balance?
- Number of checks written monthly?
- Number of ACH received monthly?
30 - 35
- Number of deposits monthly?
8-10 via Remote Check Deposit Scanner
- Number of checks deposited monthly?
- Dollar amount of cash deposited monthly?
$0-$50 – It is our policy not to accept cash from vendors but sometimes we collect cash for employee events.
- Number of night drop monthly?
- Number of ACH originated items monthly?
- ACH origination frequency?
3 times per month
- Direct Deposit: number of employees?
- Payroll frequency?
- Number of wires received: Domestic, International, Int FX?
- Number of wires originated: Domestic, International, Int FX?
- ACH Addenda needs?
- Number of Remote Deposit Scanners?
- Do you own scanners? If so, make and model.
- What type of Bank Recon?
Checks Paid, Full Recon, File transmission? We do our own bank Reconciliation with monthly Statements
- Number of accounts on ZBA?
Parent and Subs 0
- Can you provide a current AA statement of services and activity?
We are not currently in an Account Analysis product
- Credit Cards:
- Preferred overall limit $30,000
- Approximate number of cards and individual amounts 6, $5,000
Are you using online banking?
- Do you originate ACH credits or debits online?
- Do you produce the payroll inhouse or have a payroll service?
- How many checks do you deposit on a monthly basis?
100 - 115
- Do you have fraud protection on your accounts Check Positive Pay and/or ACH debit block?
No, but interested in prices for both.
- Number of credit cards issued.
- Annual spend on the credit cards.
- Are you paying vendors with a credit card? If so, what is the annual spend.