Sub-Depository Bank Services

A government authority in Texas is seeking a vendor to provide sub-depository bank services. The agency needs a financial institution to manage County funds while ensuring strong financial positioning and the ability to pledge adequate securities against those funds. This initiative aims to secure reliable depository services, enhance banking procedures through available cash management products, and prevent fraudulent transactions with robust online security measures. The scope of work covers the provision of comprehensive sub-depository banking services, utilizing convenient banking locations and efficient cash management tools. The agency requires the selected bank to deliver a competitive net rate of return on County funds and demonstrate experience in managing similar accounts. Performance of the banking services will take place offsite. Only onshore organizations based in the United States are eligible to bid on this opportunity. The agency will evaluate proposals based on the bank's financial position, its ability to pledge adequate securities, and its experience with similar accounts. Additional evaluation criteria include the net rate of return, the ability to meet service requirements, the cost of services, online security measures, available cash management products, and the convenience of banking locations. The agency is currently looking for proposals and has not disclosed a specific budget. Bidders must submit all questions regarding this procurement no later than July 01, 2026.