Award

INVITATION TO TENDER FOR BANKING SERVICES

GLOUCESTERSHIRE COUNTY COUNCIL

This public procurement record has 3 releases in its history.

Award

29 Sep 2021 at 10:50

Award Notice
Tender

11 Jun 2021 at 12:13

Tender Notice
Tender

11 Jun 2021 at 12:04

Tender Notice
Summary of the contracting process

Gloucestershire County Council is inviting tenders for a fixed-term contract for banking services, with a total value of £265,000. The procurement process is classified as "open" and falls under the banking services industry category, specifically for transactional banking provision. The tender period closed on 2nd August 2021, and the awarded contract will commence on 13th September 2021 and run for five years until 13th September 2026. This initiative is located in Gloucester, in the South West region of England, and encompasses comprehensive banking service requirements, including internet banking, account management, and payment processing facilities.

This contract presents substantial opportunities for banking institutions, particularly those specialising in transactional banking and financial services, to establish or deepen their engagement with a local government authority. Businesses with capabilities to manage multiple accounts, perform real-time payment processing, and provide dedicated customer support will find this tender particularly suitable. Additionally, entities that can ensure training and adaptation to online banking systems will be well-positioned to compete for this contract, thereby fostering growth and enhancing their portfolio within the public sector.

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Notice Information

Notice Title

INVITATION TO TENDER FOR BANKING SERVICES

Notice Description

Gloucestershire County Council (GCC) intends to procure a transactional banking provider for general banking services. The banking service requirements of GCC are below. A fixed term 5 year contract for banking services. Four (4) main bank accounts, with the ability to be administered through internet banking, which can handle common forms of banking transaction, including foreign generated transactions. The ability to pool these main accounts, with the contractual right to offset for both balances and interest calculation. A further account which is to be segregated from the main accounts, but administered through the same internet banking portal as the main accounts. A Head Office Collection Account (HOCA) for the receipt of school and library payments, (or any legitimate, cost effective replacement system). In addition to the main accounts, approximately 160 accounts are maintained for schools and other establishments. These are operated independently from the main bank accounts and have their own signatories, they are not subject to the account balance pooling arrangement Of the accounts detailed in 1.5, 20 will be charged centrally via the agreed process, the remainder will pay their own charges. Real-time payment processing for BACS, CHAPS and Faster Payments A "daylight" facility for the payment of BACS, CHAPS and Faster Payments of no less than PS50m. Individual daily Service User Number limits of: - Pensions Payments: PS10m - Payroll Payments: PS25m - Creditor Payments: PS20m - Pension Direct Debits: PS1m Bank reconciliation data provided via the internet An automatic sweeping facility between the main accounts Full online banking facility, including online bank statements, transaction searching online payment facilities Cheque paying-in facilities both bulk and non-bulk The facility to open a reasonable number of new accounts as business need occurs Contingency arrangements for banking by telephone or over the counter in case of online banking issues, or issues at GCC's site Standard cheque and credit books for the main account A named relationship manager who will be the major point of contact for the management of the contract A clear set of service level agreements, outlining minimum service performance, and a clear dispute resolution procedure Full training on all online banking systems will be required during transition, and on an ongoing basis as required

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-cd5f33a2-ff53-41bd-a75e-8ce05f2b00c7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/8cc0b76c-035f-499c-90ad-d67754484802
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£265,000 £100K-£500K
Lots Value
Not specified
Awards Value
£265,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
29 Sep 20214 years ago
Submission Deadline
2 Aug 2021Expired
Future Notice Date
Not specified
Award Date
23 Sep 20214 years ago
Contract Period
1 Oct 2021 - 11 Jun 2026 4-5 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
GLOUCESTERSHIRE COUNTY COUNCIL
Contact Name
Shak Miah
Contact Email
shak.miah@gloucestershire.gov.uk
Contact Phone
+44 1452324331

Buyer Location

Locality
GLOUCESTER
Postcode
GL1 2TP
Post Town
Gloucester
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK7 Gloucestershire and Wiltshire
Small Region (ITL 3)
TLK73 Gloucestershire CC
Delivery Location
TLK South West (England)
Local Authority
Gloucester
Electoral Ward
Westgate
Westminster Constituency
Gloucester

Supplier Information

Number of Suppliers
1
Supplier Name

LLOYDS BANKING GROUP

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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