Award

Money Transmission Services - Lot 3

H M REVENUE & CUSTOMS

This public procurement record has 1 release in its history.

AwardUpdate

31 Jul 2025 at 08:15

Award Notice
Summary of the contracting process

The public procurement process for "Money Transmission Services - Lot 3" has been completed by His Majesty's Revenue and Customs (HMRC), serving as the UK's tax, payments, and customs authority. The contract has been awarded to CITIBANK N.A. LONDON BRANCH for a period starting on 4th July 2025 and ending on 3rd July 2037, with potential extension options up to four additional years. This selective procurement was undertaken via a restricted procedure, involving competitive bidding above the threshold. The total contract value stands at £55,020,000, and it encompasses banking services, financial consultancy, transaction processing, and foreign exchange services across the United Kingdom.

This tender opens extensive opportunities for large-scale financial institutions capable of delivering comprehensive banking and consultancy services to government entities. While the procurement method was selective, the contract indicates a significant market presence for firms adept in large-scale financial operations and capable of integrating complex payment models. Businesses involved in financial services and banking that can support broad public sector entities would find similar opportunities lucrative and strategically aligned with growth plans. Although not suited for SMEs or VCSEs, such contracts typically foster partnerships and could lead to follow-on opportunities in related financial service areas.

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Notice Information

Notice Title

Money Transmission Services - Lot 3

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 3 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-b5fd17-208c60f7-70de-4530-b76b-14a5ed710436
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/0320988a-c9bf-48f3-803f-50d28723ef7a
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
£55,020,000 £10M-£100M
Lots Value
Not specified
Awards Value
£55,020,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
31 Jul 20256 months ago
Submission Deadline
3 Sep 2024Expired
Future Notice Date
Not specified
Award Date
2 Jul 20257 months ago
Contract Period
3 Jul 2025 - 3 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
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1A 2BQ
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

CITIBANK N.A. LONDON BRANCH

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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