General Banking Services

The City of East Orange, New Jersey, requires a qualified financial institution to deliver comprehensive general banking services for its government authority. The agency needs to optimize its daily financial operations, secure its transactions, and establish reliable electronic access to its accounts. To solve these operational needs, the agency is seeking a five-year contract with a domestic banking partner capable of managing its General and Bail accounts. The scope of work covers daily cash management, payroll processing, and electronic banking services. Bidders must provide next-business-day availability for deposited checks, pay interest on all accounts, and offer sweep accounts with competitive interest rates. The requested electronic banking platform must feature real-time activity viewing, a six-month history archive, online stop-payment capabilities, transfer access between accounts, and positive pay features. Additionally, the selected institution must deliver monthly bank statements electronically, send daily email notifications for debit or credit memos, transmit returned item images within the month of return, and assign a dedicated account officer to manage both accounts. Eligible bidders must perform all work offsite within the United States. The agency is seeking proposals to determine the budget and will evaluate submissions based on the comprehensive services outlined, including the provision of monthly account analyses detailing all fees, charges, and earnings credits. Bidders must submit all questions regarding this opportunity no later than June 26, 2026.