Iowa State University is soliciting proposals from qualified financial institutions to provide T2 banking services for students. The contract term is July 1, 2026, through June 30, 2028, with potential for renewal. Services include personal banking accounts, assistance for international students, ATM services, and financial education programs. Proposals will be evaluated based on adherence to regulations, convenience, fee structure, services offered, experience, implementation timeline, revenue opportunities, and compliance with university terms. Bidders must submit questions by March 26, 2026, and responses are due by April 9, 2026, 10:00 AM CT, exclusively online via ISUBID. Required attachments include proposed contract documents, student account features and fees, and pricing details.
The response deadline for this bid is April 9, 2026, at 10:00 AM CT. The bid notice states, esponse deadline: 4/9/2026 10:00 am ct.
The bid notice allows for several payment term options, including 110, net 30, 210, net 30, 2 15, net 30, 5 15, net 30, et 10, et 15, et 20, and et 30. The bid notice states, please select the payment terms for this offer. 110, net 30 210, net 30 2 15, net 30 5 15, net 30 net 10 net 15 net 20 net 30 other.
The evaluation of this RFPRFQ may be based upon, but not limited to: ability to adhere to US Department of Education rules for T2 banking arrangements, convenience and access to ATMs, fee structure, banking services/products and financial education tools that meet the student populations needs, experience in providing T2 banking services with higher education institutions similar to ISU as evidenced by references, proposed implementation timeline and process, revenue opportunities to the university, and ability to meet the bid specifications and agree to university terms and conditions. The bid notice states, The evaluation of this RFPRFQ may be based upon, but not limited to: Ability to adhere to US Department of Education rules for T2 banking arrangements Convenience and access to ATMs Fee structure Banking services/products and financial education tools that meet the student populations needs Experience in providing T2 banking services with higher education institutions similar to ISU as evidenced by references Proposed implementation timeline and process Revenue opportunities to the university Ability to meet the bid specifications and agree to university terms and conditions.
The bid requires contractors to provide a brief company profile including date of incorporation, business composition, state of organization, and any other pertinent information. It also requires a staff profile with degrees, training, and years of experience for those responsible for servicing the account, and specific experience with similar work, especially with higher education institutions. The bid notice states, provide a brief company profile including date of incorporation, business composition proprietorship, partnership or incorporation, the state under which your business is organized, and any other pertinent information that can be used to evaluate the proposal. and provide a profile including, degrees, training, years of experience, etc. of specific staff members that, if you were awarded, would have ongoing responsibility for servicing this account. and describe the experience the company has with performing similar work, especially with other institutions of higher education.
The question deadline for this bid is March 26, 2026, at 10:00 AM CT. The bid notice states, question deadline: 3/26/2026 10:00 am ct.
