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Public Higher Education Bulletin

Northeastern Illinois University
RFP #BMS2022

Request for Proposal: Banking and Merchant Services

This notice has been modified
Published Thursday October 27, 2022
Addendum #1 is being issued to provide answers to questions received and to provide additional information. Proposal due date remains the same.
First published Saturday, October 8, 2022
Sealed proposals will be accepted below until 2:00 PM, Wednesday November 2, 2022:
At the following address:
Purchasing Department
Building C, 4th Floor, Room C-435
5500 North St. Louis Avenue
Chicago, IL 60625-4699
via Electronic Bidding
Northeastern Illinois University (NEIU or University) seeks proposals from financial institutions interested in providing banking services (Group 1) and/or merchant services (Group 2). The University prefers to select financial institutions with a physical branch within the city limits of Chicago. We encourage financial institutions to submit comprehensive proposals that offer the highest quality of services while providing opportunities for improving the current management of cash flow. The university is looking for improved integration with its systems a clear and fair charging structure a full-service and easy-to-use configurable online portal ease of access to banking data and transactions and high levels of customer service with single points of contact. The University is also interested in any technological advances and pilots that could improve the overall banking experience.

Merchant services shall include payment processing for electronic data credit card and debit card payment services including point-of-sale transactions, phone and internet transactions and electronic check conversion. NEIU intends to award a contract for Banking Services (Group 1) for depository and related services and award a contract for Merchant Services (Group 2) for electronic data credit card and debit card payment services, including point-of-sale transactions, phone and internet transactions and electronic check conversion.

Firms may submit a proposal for Group 1- Banking Services or Group 2- Merchant Services or both, however, a firm will be required to submit a separate proposal for each desired group. The University reserves the right to accept or reject proposals and to award a contract per group.

Pre-Submission Conference Zoom Meeting:

Join Zoom Meeting

Meeting ID: 878 1504 7042

Passcode: 663226

For instructions on how to obtain a comprehensive purchase description, disclosure or contract forms, contact:
Carla Soria
5500 N. St. Louis Avenue
Chicago, IL 60625
Phone: (773) 442-5305
Chief Procurement Officer - John Donato
State Purchasing Officer - Eleanor Curcuro
Submit 1 copies of the response as defined in the specifications.
The University reserves the right to accept or reject any and all responses or parts thereof.
Vendor may expect payment thirty to sixty days after receipt of invoice, unless otherwise stated in the bid documents.
This procurement may be contingent on Board of Trustees approval.
Illinois Department of Human Rights (IDHR) eligibility number is required on all proposals, if applicable.
There is no BEP goal for this procurement.
The contract(s) for this solicitation could exceed $50,000 annually.

This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.

The State of Illinois has a policy to encourage prospective vendors to hire qualified veterans, minorities, females, persons with disabilities and ex-offenders.

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Specification Documents
  • Addendum1-BMS2022BankingServicesandMerchantServices-Final.pdf (7 MB)
  • BMS2022BankingandMerchantServicesRFPFinal100722.docx (228 KB)
  • E-BiddingVendorInstructions.docx (678 KB)
  • Exhibit1-BMS2022-BankingandMerchantServicesPriceProposalPages.xlsx (24 KB)
  • ExhibitA-BankAccounts.pdf (71 KB)
  • ExhibitB-CreditCardTerminalequipmentinventory.pdf (57 KB)
  • ExhibitC-NEIUInvestmentPolicy.pdf (280 KB)
  • FormA-E-BiddingHE.docx (77 KB)
  • FormB.pdf (1 MB)
  • MainCampusMap.pdf (211 KB)