This bid is for banking and payroll direct deposit services supporting locations throughout Frederick County, Maryland, with central operations at 191 South East Street, Frederick, MD 21701.
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You send a priceOne number, before November 20, 2026.
We bid itXL Eagle submits the bid as the main contractor.
You do the workIf it is awarded, you do the job as our subcontractor.
Banking: Deposits, disbursements, domestic wires, remote deposits, reconciliation, Positive Pay, zero-balance accounts, and overnight sweeps; approximately $44.6 million in average collected balances.
Payroll: Approximately 7,900 direct deposit participants and $14.3 million per pay cycle, up to 24 cycles annually; same-day ACH for urgent corrections.
Integration: PeopleSoft 9.2 and PaymentWorks compatibility, secure NACHA file transmission via SFTP, multifactor authentication, and separate payment initiation and approval.
School accounts: 70 accounts with approximately $4.7 million combined balances; cash/check deposits, event cash withdrawals, and fee-free cashing of checks drawn on these accounts.
Qualifications: FDIC-insured bank with at least 10 years of operation, $4 billion in assets, A- S&P or Baa1 Moody's rating, and Tier 1 capital ratio of at least 10%; 102% deposit collateralization required.
Pricing and support: Itemize setup, monthly, and transaction fees, earnings credits, and sweep rates. Include firm initial-term pricing and 24/7 payroll emergency support.
XL Eagle