Award

RMCV 037 - Banking Services

SHROPSHIRE COUNCIL

This public procurement record has 1 release in its history.

Award

23 Feb 2023 at 11:55

Summary of the contracting process

The Shropshire Council has awarded a contract for banking services to National Westminster Bank Plc. The contract involves money transmission banking services, including maintenance of bank accounts, Faster Payments, BACS, and CHAPS transaction processing. The contract is worth £279,881 and has a duration of 5 years, with a possible extension of 2 years. The procurement stage is complete, with an open procedure type and a tender period ending on September 19, 2022. The contract period starts on April 3, 2023, and ends on April 2, 2030. The location for service delivery is in the West Midlands, United Kingdom, under the services category.

This awarded tender for banking services by Shropshire Council presents business opportunities for financial institutions and banking service providers. Companies specialised in money transmission services, bank account management, and transaction processing are well-suited to compete for this contract. The contract's substantial value and long duration offer a stable revenue stream for successful bidders. Given the nature of the services required, businesses with experience in providing similar financial solutions are encouraged to engage in this opportunity for business growth.

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Notice Title

RMCV 037 - Banking Services

Notice Description

This is an award notice for a money transmission banking service to include the maintenance of bank accounts, Faster Payments, BACS and CHAPS transaction processing and other services associated with local authority banking arrangements. An internet banking service for balance/transaction reporting and payment initiation is also required. The contract will be for an initial period of 5 years with the option to extend for a further 2 years.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ea79dfb3-577d-4ec1-a7d8-e33795906b16
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/db109e9e-6391-4c48-b342-fa74d1eaf957
Current Stage
Award
All Stages
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
£279,881 £100K-£500K
Lots Value
Not specified
Awards Value
£279,881 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
23 Feb 20233 years ago
Submission Deadline
18 Sep 2022Expired
Future Notice Date
Not specified
Award Date
18 Sep 20223 years ago
Contract Period
2 Apr 2023 - 2 Apr 2030 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
SHROPSHIRE COUNCIL
Contact Name
Procurement
Contact Email
procurement@shropshire.gov.uk
Contact Phone
+441743252992

Buyer Location

Locality
SHREWSBURY
Postcode
SY2 6ND
Post Town
Shrewsbury
Country
England

Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG2 Shropshire and Staffordshire
Small Region (ITL 3)
TLG22 Shropshire
Delivery Location
TLG West Midlands (England)

Local Authority
Shropshire
Electoral Ward
Abbey
Westminster Constituency
Shrewsbury

Supplier Information

Number of Suppliers
1
Supplier Name

NATIONAL WESTMINSTER BANK

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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