NJ TRANSIT Minutes Board of Directors Meeting 2026-04-15
NJ TRANSIT Extends Armored Car Contract With Wells Fargo
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Description
The NJ TRANSIT Board approved an 18‑month extension of its revenue processing and armored car services contract with Wells Fargo Bank, N.A., adding up to $4,551,355.28 plus a five percent contingency. The agreement covers secure transportation, counting, reconciliation, and deposit of approximately $140 million in annual fare revenue.
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
Original contract No. 18-034 approved March 2021 for three years plus two one-year options; this action adds an 18‑month extension with additional funding and contingency, subject to funding availability.
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