Sub-Depository Bank Services

A government authority located in Texas is seeking a vendor to provide sub-depository bank services. The agency needs a financial institution to secure and manage County funds while enhancing the County's overall banking procedures. This initiative aims to solve the agency's need for secure, efficient cash management and optimal financial returns on its deposits. The scope of work covers the provision of comprehensive sub-depository banking services, including the implementation of online security measures to prevent fraudulent transactions. The selected bank must offer cash management products that improve the agency's daily banking operations and provide convenient, accessible banking locations. Additionally, the service provider must perform all work offsite within the United States. Eligible bidders must be onshore organizations based in the United States. The agency will evaluate proposals based on the bank's financial position, its ability to pledge adequate securities against County funds, and its experience in providing depository services to similar accounts. Additional evaluation criteria include the net rate of return on County funds, the ability to meet service requirements, the cost of services, available online security measures, cash management products, and the convenience of banking locations. The agency is currently looking for proposals and has not signaled a specific budget. Bidders must submit all questions regarding this opportunity no later than July 01, 2026.