Tender

R5798 Banking Service

TOWER HAMLETS

This public procurement record has 4 releases in its history.

Tender

18 Aug 2022 at 08:58

Tender Notice
Tender

17 Aug 2022 at 17:04

Tender Notice
Tender

17 Aug 2022 at 16:52

Tender Notice
Tender

17 Aug 2022 at 15:16

Tender Notice
Summary of the contracting process

The London Borough of Tower Hamlets is inviting tenders for banking services. The procurement process aims to secure a cost-effective banking contract involving bank account operations, cash handling, and automated payments. An internet banking service will also be required. The contract is valued at 175,000 GBP and follows an open procedure with a tender period ending on 19th September 2022. The contract is for services and spans from 1st April 2023 to 31st March 2028.

This procurement opportunity provides the chance for businesses to offer banking services to the public sector. Companies with experience in providing banking solutions, particularly to local authorities, are well-suited to compete. Tower Hamlets Council is seeking efficiency savings through this process, offering an opportunity for suppliers to showcase innovative and cost-effective banking solutions to enhance internal processes.

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Notice Information

Notice Title

R5798 Banking Service

Notice Description

Banking services for London Borough of Tower Hamlets. To procure a cost effective banking contract which will include the operation of bank accounts, cash/cheque handling and automated payments and receipts (i.e. BACS, Faster Payments, CHAPS). An internet banking service (for payment initiation and balance/transaction reporting) will also be required. In recent years bank have been increasing pricing for local authority contracts so it unlikely that direct cost savings will be secured. However, the procurement process will allow the Council to review banking related processes and may present the opportunity to make internal efficiency savings. To Tender: a) Go to https://procontract.due-north.com/Opportunities b) Register, c) Search for tender opportunity "R5798 Banking Service", d) Express an interest, You will be required to register on the portal to bid.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b148d8f3-b9a8-4c1f-886c-ef0c114530a6
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£175,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
18 Aug 20223 years ago
Submission Deadline
19 Sep 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2023 - 31 Mar 2028 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
TOWER HAMLETS
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
E14 2BG
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Tower Hamlets
Electoral Ward
Poplar
Westminster Constituency
Poplar and Limehouse

Further Information

Notice Documents

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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