Award

RMCV 037 - Banking Services

SHROPSHIRE COUNCIL

This public procurement record has 2 releases in its history.

Award

23 Feb 2023 at 12:05

Tender

04 Jul 2022 at 12:37

Summary of the contracting process

Shropshire Council has recently awarded a banking services contract (RMCV 037) to National Westminster Bank Plc. The contract involves services such as maintaining bank accounts, Faster Payments, BACS and CHAPS transaction processing, and internet banking. The contract's initial period is 5 years with a possible 2-year extension option. The contract's value is £279,881, and it was signed on 19th September 2022.

This contract provides business opportunities for financial institutions and payment service providers looking to offer banking services to local authorities. Businesses with expertise in money transmission services, transaction processing, and internet banking are well-suited to compete. The contract offers a substantial value and a long-term commitment, presenting a lucrative growth opportunity for successful bidders in the banking services sector.

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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.

Lot Information

Lot 1

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.

Renewal: 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-h6vhtk-034d94
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/005414-2023
Current Stage
Award
All Stages
Tender, Award

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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66110000 - Banking services

Notice Value(s)

Tender Value
£225,000 £100K-£500K
Lots Value
£225,000 £100K-£500K
Awards Value
Not specified
Contracts Value
£279,881 £100K-£500K

Notice Dates

Publication Date
23 Feb 20233 years ago
Submission Deadline
1 Aug 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
7 years

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
SHROPSHIRE COUNCIL
Contact Name
Procurement
Contact Email
procurement@shropshire.gov.uk
Contact Phone
+44 1743252992

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
TLG22 Shropshire

Local Authority
Shropshire
Electoral Ward
Abbey
Westminster Constituency
Shrewsbury

Supplier Information

Number of Suppliers
1
Supplier Name

NATIONAL WESTMINSTER BANK

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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