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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />P.O. Box 1028 <br />Vero Beach, FL 32961-1028 <br />Telephone: (772) 770-5185 <br />TO: Board of County Commissioners <br />FROM: Elissa Nagy, Finance Director <br />THROUGH: Jeffrey R. Smith, Clerk of Circuit Court and Comptroller <br />DATE: June 3, 2019 <br />SUBJECT: TD Bank Credit Card Merchant Services <br />On October 18, 2016, the Board awarded the banking services for the Board of County <br />Commissioners to TD Bank. Since then, the County has been transitioning all of the County's <br />banking accounts and services to TD Bank. Included in the banking services proposal was the <br />option for the County to utilize TD Bank's merchant services. <br />Finance staff recently requested a comparison from TD Bank for credit card fees against the <br />County's current provider, Global Payments. The following County departments currently <br />utilize Global Payments: Recreation, Shooting Range, Parks, and Building. Other County <br />departments haverestrictions for credit card providers based on their software or point of sale <br />systems. <br />For fiscal year 2018, credit card fees for the departments utilizing Global Payments totaled <br />$100,114. Based on TD Bank's analysis, overall annual savings are estimated at a minimum of <br />$3,000 across those. departments. In addition, having the merchant services with TD Bank will <br />provide additional customer service as the County has its own designated service team for all <br />banking related services. Currently, with Global Payments, we are restricted to utilizing their <br />customer service line for service -related issues. <br />Those departments currently utilizing Global Payments will upgrade their machines to those with <br />additional security features and enhanced capabilities. The one-time cost of those machines <br />range from $300-600 per machine depending on what features departments need, and the cost <br />will be the responsibility of the department. We have provided the new credit card machine <br />specifications to the Computer Services department, and they have confirmed that the machines <br />meet the required PCI compliance rules. <br />Recommendation: <br />Staff recommends the Board to approve the attached documents and authorize the Chairman to <br />execute them. <br />22 <br />