Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Framingham staff brief subcommittee on lockbox payment services, Santander contract and electronic convenience fees
Summary
City staff said Santander Bank currently provides the lockbox payment service under a February 2023 RFP; the city pays $130 per month for two lockboxes ($1,560 annually); reconciliation is done monthly by the treasurer and accounting offices; electronic convenience fees are retained by the vendor (City Hall Systems/Kelly & Ryan).
City finance staff told the finance subcommittee that Santander Bank currently handles the city’s lockbox receipt services under a contract awarded through an RFP in February 2023. The contract covers two lockboxes at a combined cost of $130 per month, or $1,560 per year, with no additional fees cited for the lockbox processing.
Reconciliation and administration: Staff said Santander performs payment processing and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
