Banking Services

Trident Technical College (TTC), located in Charleston County, South Carolina, is seeking a comprehensive banking services contract through a Request for Proposal (RFP) issued by the State Fiscal Accountability Authority-Division of Procurement Services. The solicitation targets a full-service, FDIC-insured financial institution to provide banking services across TTC's five campuses, including general operating accounts, payroll accounts, student refunds accounts, credit card services, ACH transactions, positive pay services, check and deposit imaging, remote electronic deposit capabilities, online banking access, investment services, and ATM support. Key deliverables include processing approximately $50 million in federal funds annually, managing a monthly net payroll of $3.6 to $4 million with approximately 15 checks and 1,500 direct deposits, and handling significant student refund volumes. Evaluation criteria will focus on pricing, understanding of scope, potential earnings from the proposed cash management system, and operational convenience. Proposal submissions are due by January 21, 2026 at 11:00 AM EST, with a non-mandatory pre-bid conference scheduled for December 2, 2025 at 11:00 AM EST. Offerors must complete an Administrative Cost Schedule detailing per-item fees and demonstrate current full-service banking business operations with FDIC insurance.

The RFP does not specify explicit set-aside designations or restrictions on respondent types. The contract will have an initial one-year term with four optional one-year renewals, creating a potential maximum contract period of five years from May 1, 2026 to October 30, 2031. TTC will compensate the selected bank through compensating balances, direct payment, or a combination, with annual settlements by February 28. The earnings credit rate will be variable and determined quarterly by mutual agreement. Additional requirements include installing and supporting two ATMs at the Thornley and Palmer Campus locations. The college currently uses Brinks Armored Car Services for deposit pickups and deliveries and has approximately 610 full-time permanent and 339 temporary employees. While specific budget ranges are not explicitly stated, the bank will be expected to manage substantial financial transactions across multiple accounts, with the potential for significant compensating balance arrangements based on the college's financial volume.