Banking Services

Volusia County, Florida has issued Request for Proposals (RFP) #25-P-131TF for comprehensive banking services covering the County and its Constitutional Officers, including the Property Appraiser, Supervisor of Elections, and Tax Collector. The procurement seeks a full-service banking relationship with advanced technological capabilities, including web-based account access with dual-factor authentication, electronic payment processing, remote deposit capture, and positive-pay fraud protection. The bank will manage multiple specialized accounts such as Pooled Cash, Accounts Payable, Payroll, Utility Payment, Corrections Inmate Funds, and operational accounts with specific requirements like processing 2,800 biweekly direct deposit payroll transactions and 75-125 weekly ACH vendor payments. Key deliverables include monthly reconciliation services, a centralized vault for deposit processing, emergency banking services within 24 hours of disaster events, and innovative solutions to maximize interest earnings and eliminate float time. The RFP was released on October 10, 2025, with questions due by October 29, 2025, and proposals due on November 12, 2025, at 3:01 pm. Evaluation criteria will include firm qualifications, project approach, functional performance, total cost, net earnings, references, and financial stability, with a comprehensive scoring system to assess potential banking partners.

The RFP does not explicitly outline specific set-aside designations or restrictions for disadvantaged enterprises. The proposed contract is a five-year agreement with potential renewals for up to five additional years, covering an extensive banking infrastructure that processes approximately $139,880,000 in annual deposits for the County alone. The existing banking infrastructure requires integration with sophisticated technological systems, including NACHA formatted EFT files, Image Cash Letter (ICL) deposit processes, and compliance with Volusia County's detailed computing security procedures. While no incumbent vendor is directly mentioned, the RFP provides extensive exhibits detailing current account structures, average daily balances, and transaction volumes across multiple government entities. Insurance requirements are stringent, mandating coverage including a $5,000,000 Professional Liability policy, $2,000,000 Cyber Insurance, and a $10,000,000 Financial Institution Bond. The county emphasizes the need for a banking partner with demonstrated government banking expertise, regulatory compliance capabilities, and the technological sophistication to serve multiple Constitutional Officers with varying operational needs.