Laserfiche WebLink
6.1.D. - Page 2 <br /> The rate quoted by Wells Fargo will not increase over the duration of the agreement and <br /> could decrease in the event Wells Fargo reduces the rate charged to the State. <br /> One of the benefits of staying with Wells Fargo for merchant services is that we have an <br /> established relationship with them as they are also the City's primary bank. This <br /> provides for a more efficient way for staff to resolve problems with credit card payments <br /> that also involve the City's checking account. <br /> ALTERNATIVES <br /> Council may elect not to accept this proposed pricing arrangement and may direct staff <br /> to obtain prices from other banks. Given that the proposed pricing is the result of a <br /> competitive process undertaken by the State, it is unlikely that the City will be able to <br /> obtain a lower price on its own. <br /> FISCAL IMPACT <br /> The City currently spends about $132,000 per year for merchant services fees. <br /> ENVIRONMENTAL REVIEW <br /> This is not a project under CEQA as defined in CEQA guidelines. <br /> � <br /> � �^�- <br /> BRIAN PONTY <br /> DIRECTOR OF FINANCE <br /> �" <br /> ROBERT B. BELL <br /> CITY MANAGER <br /> ATTACHMENTS <br /> 1. Agreement for Professional Services with Wells Fargo Merchant Services <br /> 2. Exhibit A —Wells Fargo Merchant Services <br /> 3. Exhibit B — Merchant Services Program Guide <br /> RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br /> None <br />