Award

Money Transmission Services - Lot 3

H M REVENUE & CUSTOMS

This public procurement record has 9 releases in its history.

AwardUpdate

31 Jul 2025 at 08:13

AwardUpdate

31 Jul 2025 at 08:11

Award

29 Jul 2025 at 15:10

AwardUpdate

29 Jul 2025 at 10:30

AwardUpdate

28 Jul 2025 at 12:27

AwardUpdate

18 Jul 2025 at 10:07

Award

17 Jul 2025 at 16:32

Tender

20 Mar 2024 at 12:06

Planning

30 Jan 2023 at 15:26

Summary of the contracting process

The procurement process for "Money Transmission Services - Lot 3" conducted by His Majesty's Revenue and Customs (HMRC) has reached the award stage. HMRC, located at 100 Parliament Street, London, serves as the UK's tax, payments, and customs authority, facilitating transactions across government entities. This contract, which falls under the banking services industry category, involves a restricted procedure method for selective procurement. The contract period spans from 4th July 2025 to 3rd July 2037, making it a long-term engagement with the potential for four additional 12-month extensions. Valued at £55,020,000, the services are to be delivered across the United Kingdom, with Citibank N.A. London Branch appointed as the supplier. The tender, classified under CPV code 66110000, covers banking, financial transaction processing, and foreign exchange services, and was published on 20th March 2024.

This tender represents significant business growth opportunities, particularly for large-scale financial institutions with expertise in providing comprehensive banking services, including transaction processing and foreign exchange. The scope of the contract offers a stable, long-term engagement, providing an opportunity for businesses to establish robust relationships with government entities and potentially unlock further contracts within the public sector. Suitability for the contract does not favour SMEs or voluntary, community and social enterprises (VCSEs), suggesting that larger banks with substantial financial standing and technical capability are best positioned to compete in this selective procurement process. This opportunity can pave the way for participating businesses to enhance their market presence and gain significant exposure within the UK’s financial services landscape.

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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.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-c5fdcc70-5a22-427d-ba15-de4899a2e55b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/0320988a-c9bf-48f3-803f-50d28723ef7a
Current Stage
Award
All Stages
Planning, Tender, 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
£221,820,000 £100M-£1B
Contracts Value
Not specified

Notice Dates

Publication Date
31 Jul 20256 months ago
Submission Deadline
3 Sep 2024Expired
Future Notice Date
27 Feb 2023Expired
Award Date
17 Jun 20258 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

Contracting Authority (Buyer)

Main Buyer
H M REVENUE & CUSTOMS
Contact Name
Chloe Hobbs
Contact Email
chloe.hobbs1@hmrc.gov.uk
Contact Phone
03000 587 827

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
2
Supplier Names

CITIBANK N.A. LONDON BRANCH

NATIONAL WESTMINSTER BANK

Open Contracting Data Standard (OCDS)

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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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