NJ TRANSIT Minutes Board of Directors Meeting 2026-04-15
NJ TRANSIT Extends Revenue Processing Contract With Wells Fargo
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Description
The NJ TRANSIT Board approved an 18‑month extension of Contract No. 18-034 with Wells Fargo Bank, N.A. for revenue processing and armored car services, adding up to $4,551,355.28 plus contingencies. The contract supports secure transport, counting, and deposit of approximately $140 million in annual fare revenues.
Contract Details
Contract Amount
Not to exceed $4,551,355.28, plus five percent for contingencies
Vendor
WELLS FARGO BANK NA
Agency
NJ Transit, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
April 15, 2026
Contract Term
18-month extension
Renewal Info
Initial three-year contract with two one-year options was awarded in March 2021; current Board action adds an 18‑month extension with additional funding, subject to available funds.
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