Banking services

Orangeburg-Calhoun Technical College is seeking comprehensive banking services through a Request for Proposal (RFP) issued by the State Fiscal Accountability Authority. The solicitation requires an FDIC-insured banking institution to provide depository services, treasury management, business-related services, fraud protection, check cashing, investment services, and online reporting capabilities. The selected bank must maintain a branch within ten miles of the college campus located in Orangeburg, South Carolina. Evaluation criteria will allocate points across four key areas: comprehensive banking services (30 points), potential earnings from cash management services (30 points), administrative costs (20 points), and convenience of banking activities (20 points). The procurement timeline includes a deadline for questions on April 27, 2023 at 11:00 AM EST, with proposal submissions due on June 1, 2023 at 11:00 AM EST. The anticipated award date is September 20, 2023, with an initial contract term of one year beginning September 30, 2023, and the potential for four optional one-year renewals.

The solicitation does not explicitly mention specific set-aside designations or restrictions for disadvantaged enterprises. The college estimates monthly transaction volumes including 250 operating account checks, 5 payroll checks, 150 ACH transactions, and 20 over-the-counter deposits. The average monthly collected available balance is approximately $2,300,000, with estimated average deposit balances of $2,200,000 needed to support monthly operating activities. The institution currently uses an online commercial portal for ACH and check payee positive pay file uploads but is open to alternative Secure File Transfer Protocol (SFTP) methods. Compensation for banking services may be structured through compensating balances, direct payment, or a combination, with an earnings credit rate to be determined quarterly by mutual agreement. Vendors must submit both technical and price proposals in original and redacted electronic formats, with a requirement to maintain offer validity for 180 calendar days after the opening date.