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Banking Services
The State Treasurer’s Office serves as the state’s bank. In order to help us effectively provide the banking services required by state agencies, several contracts have been negotiated. Per A.R.S 35-315-F (http://www.azleg.state.az.us/ars/35/00315.htm) No state agency shall contract for banking services except with written permission by the State Treasurer. This is to insure that all state deposits are collateralized over the limit of FDIC insurance. Any Arizona governmental entity interested in utilizing the contracts should contact Jennifer Verhelst at 602-604-7800 regarding banking relationships.
State of Arizona Employee Group Banking Program
The State Treasurer has negotiated with several banks and credit unions to provide group banking services for State Employees. Group banking services provides free or reduced cost banking for state employees. As a state employee, group banking may provide you with additional valuable options in developing your personal banking relationship. Additional information about the services available to you from each participating institution is available here.
Servicing Bank Contract
Pursuant to A.R.S. 35-315, the State Treasurer is responsible for awarding the servicing bank contract for the state to the qualified bank presenting the lowest bid for banking services. County and municipal governments can also "piggy-back" on the contract for their banking services, using the rates offered to the state. The servicing bank contract is awarded for a term of three years with two one-year extensions. The current contract expires in December 2009.
Agency Account Authorization
Pursuant to A.R.S. 35-142, agencies interested in opening a bank account must have that account authorized by the State Treasurer. The Request for Agency Bank Account form should be filled out and returned to the Treasurer's Office by fax 602-542-7176 or email. The approved copy will be returned to the account custodian.
Banking Service Authorization
Pursuant to A.R.S. 35-315 F, agencies interested in banking services must have the services authorized by the State Treasurer’s Office. The Request for Banking Services Form should be filled out and returned to the Treasurer’s Office.
Credit Card Agreements
Credit Card Revenue Reduction Limits
Click to view detailed rate information
MasterCard / Visa
As part of the servicing bank contract, the State Treasurer also contracts for merchant card services. The contract term for the merchant card processing service is the same as the overall servicing bank contract. County and municipal governments can also take advantage of the card acceptance discount rates contracted for by the state for their own merchant card servicing.
The merchant card contract is awarded for a term of three years with two one-year extensions for MasterCard/Visa. The current contract expires in December 2009.
American Express / Discover
Click to view detailed rate information
The State Treasurer’s Office has negotiated an agreement directly with American Express/Discover to allow the State of Arizona to accept the American Express/Discover card. Similar to the other banking contracts, this agreement is also available to all other Arizona governmental entities for their use.
WIRES and ACHsIncoming Wires and ACHs
In order to allow the State Treasurer’s Office to invest and collateralize all available funds, it is very important that a 24 hours notice be given for all incoming wires and ACHs over one million dollars.
All wires and ACHs should have agency identifiers in the description lines. Please notify sending organizations to include your three digit agency code first, followed by the agency name. Please do not include “State of Arizona.”
Outgoing Wires
In order to allow the State Treasurer’s Office to determine the available cash on hand for disbursements, it is required that all state agencies give a 24 hour advanced notice for wires over one million dollars.
The cutoff time for outgoing wires is 2:00 p.m. Items are to include a signed copy of a Wire out Request form and an original warrant. The minimum wire amount is $50.00. Exceptions are handled on a case by case basis.
Foreign exchange services are available from the State Treasurer’s Office if needed. Please contact Jennifer Verhelst at (602) 604-7800.
- Contact for Wire information:
Betty Hamman 602-604-7853
Jennifer Verhelst 602-604-7852
Fax 602-542-7176
Cash Deposits
Cutoff time for same day processing of deposits is 3:30 p.m.
Minimum deposit is $10.00 except at the end of the fiscal year end. During year end closing, any amount may be processed.
- Contact for Cash Deposit information:
Wilda Foley 602-604-7822
Klint Tegland 602-604-7816
Upcoming Meetings
Board of Investment
MAY 21 10:30am
Quarterly Meeting & Conference Calls
JUL 24th
Download archived presentation
Please note: All meetings are open to the public.
Contact:
(602)-604-7800
Toll Free:
1-877-365-8310
Fax:
(602) 542-7176
Email:
info@aztreasury.gov
