Award

Money Transmission Services - Lot 1

H M REVENUE & CUSTOMS

This public procurement record has 1 release in its history.

Award

12 Aug 2025 at 09:03

Award Notice
Summary of the contracting process

The procurement process for the contract titled "Money Transmission Services - Lot 1" has been completed by His Majesty's Revenue and Customs (HMRC), which serves as the UK's tax, payments, and customs authority. The contract falls under the industry category of banking services and is situated in the United Kingdom. This procurement was carried out using a selective method under a restricted procedure above the threshold. The process has reached the award stage, with the contract being awarded to Lloyds Bank PLC on 25th July 2025. The contract, valued at £99,600,000, will commence on 28th July 2025 and is set for an initial term of eight years with the possibility of extending it up to an additional four years.

This tender offers substantial opportunities for business growth, especially for large-scale enterprises that specialise in banking services, financial consultancy, financial transaction processing, and foreign exchange services. Though not suitable for SMEs or VCSEs, the contract provides a significant long-term engagement for businesses capable of supporting over 600 organisations within the government and the wider public sector. Companies equipped with the capacity to manage complex and large-scale financial services for governmental departments and agencies would be well-positioned to compete in similar tenders in the future.

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Notice Information

Notice Title

Money Transmission Services - Lot 1

Notice Description

His Majesty's Revenue and Customs (HMRC) is the UK's tax, payments and customs authority and collects the money that pays for the UK's public services and gives financial support to people. Government Banking sits within HMRC and is the banking shared service provider to Government and the wider public sector, providing banking services to over 600 organisations. To deliver the direct-to-bank model and facilitate payments in and out of Government, Government Banking contracts with commercial banks. This contract will be enabled for use by GB customers including Government departments, executive agencies, non-departmental bodies, and the wider public sector. This Lot 1 contract has been awarded for an initial term of 8 years with four 12 months possible extension options.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-05c21b3e-636a-45fc-b496-d77b32f93d4e
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/408faa56-4580-40d3-9224-0c2b5a14b6b4
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure (above threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66110000 - Banking services

66170000 - Financial consultancy, financial transaction processing and clearing-house services

66180000 - Foreign exchange services

Notice Value(s)

Tender Value
£99,600,000 £10M-£100M
Lots Value
Not specified
Awards Value
£99,600,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
12 Aug 20256 months ago
Submission Deadline
3 Sep 2024Expired
Future Notice Date
Not specified
Award Date
24 Jul 20257 months ago
Contract Period
27 Jul 2025 - 27 Jul 2037 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
H M REVENUE & CUSTOMS
Contact Name
Fintan Bradley
Contact Email
fintan.bradley@hmrc.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SS99 1AA
Post Town
Southend-on-Sea
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH3 Essex
Small Region (ITL 3)
TLH31 Southend-on-Sea
Delivery Location
Not specified
Local Authority
Southend-on-Sea
Electoral Ward
Victoria
Westminster Constituency
Southend East and Rochford

Supplier Information

Number of Suppliers
1
Supplier Name

LLOYDS BANK

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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