--- title: "Banking Services" ocid: "ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b.json" source: "Contracts Finder" current_stage: "Tender" buyer: "METROPOLITAN POLICE SERVICE" published: "2021-05-12" --- # Banking Services Buyer: METROPOLITAN POLICE SERVICE Current stage: Tender OCID: ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b.json) ## Summary The Metropolitan Police Service is currently conducting a tender for Banking Services, which falls under the banking and investment services category. This procurement process is at the tender stage, with the deadline for submissions set for 11th June 2021. The contract is anticipated to commence on 1st March 2022 and could potentially run for a maximum of 84 months, depending on extensions. The services required include the operation of multiple bank accounts including a Fund Main Supply Account and a Fund Drawing Account, with specific capabilities needed for account management within a tight operational timeframe located in London, United Kingdom. This tender presents significant opportunities for financial service providers with the capability to manage extensive banking operations and a swift account opening process. Businesses specialising in banking and investment services, particularly those experienced in handling complex account structures and third-party funds, would be particularly well-suited to compete in this procurement process. Potential bidders must demonstrate their ability to meet the operational requirements outlined by the Metropolitan Police Service to successfully secure this contract. ## Notice Overview and Scope of the Requirement The Authority as the contracting authority is tendering for the supply of Services to the MPS. The MPS/Authority is seeking through this tendering process to award a contract with a suitably capable Bidder to provide these services for an initial term of 60 months and a unilateral option of the MPS/Authority to extend for further periods of 24 months up to a maximum of 84 months for the total contract period. BANK ACCOUNTS MOPAC/MPS will require two main bank accounts: Fund Main Supply Account Fund Drawing Account In addition to the main accounts approximately 80 bank accounts will be required by divisions and operational departments. Most of these accounts are operated on an imprest basis and are funded periodically. Bank accounts are also maintained for holding significant balances on behalf of third parties (Requirements Specification provides more detail). Bidders must be capable of opening/operating any reasonable number of bank accounts on behalf of MOPAC/MPS and be capable of closing accounts/opening new bank accounts within 48 hours of receiving the appropriate instruction. Accounts must be open for the first day of the contract (currently 1st March 2022) and all necessary ancillary functions (ability to make deposits, withdrawals, intra account transfers and enquiries be in place). BANK ACCOUNT STRUCTURE The majority of bank accounts are currently pooled within a single group structure. A number of bank accounts are outside of the pooling arrangements as they hold non MOPAC/MPS balances (e.g. third party bank accounts). Bidders must be capable of pooling any number of bank accounts into more than one pooling group if required and be capable of establishing automatic transfers/sweeps between nominated bank accounts. THIRD PARTY FUNDS MOPAC/MPS manages significant balances that have been confiscated under the Proceeds of Crime Act (POCA), held under other legislation deposited in the De-tained Monies Account (DMA), held under other legislation deposited in the Account Freezing Orders (AFO) account, held under other legislation deposited in the Anti-Terrorism Crime and Security Act (ATCSA) and other third party monies processed by police through the Divisional Account. The current bank provides a virtual ac-count service that facilitates the management of these funds. To tender for this opportunity please do this via Coupa (ref 165 Banking Services): https://supplier.coupahost.com/quotes/public_events?customer=metpolice All documents and response requirements are on the portal. If you experience any issues and the help desk is unable to assist, then please make contact via hannah.lloyd@met.police.uk Once you are active on Coupa all communications must be via this route. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/b460d4e7-835f-4f47-9396-a863a7a8828c | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (above threshold) | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 12 May 2021 | | Submission deadline | 11 Jun 2021 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 1 Mar 2022 - 29 Feb 2028 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £2,450,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | METROPOLITAN POLICE SERVICE | | Locality | LONDON | | Post town | North West London | | Postcode | NW6 6LT | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI7 Outer London - West and North West | | ITL 3 | TLI72 Brent | | Local authority | Brent | | Electoral ward | Queens Park | | Westminster constituency | Queen's Park and Maida Vale | | Delivery location | TLI London | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66100000 - Banking and investment services ## Release History - 12 May 2021 at 13:11 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/b460d4e7-835f-4f47-9396-a863a7a8828c ## Documents - https://www.contractsfinder.service.gov.uk/Notice/b460d4e7-835f-4f47-9396-a863a7a8828c 12th May 2021 - Opportunity notice on Contracts Finder ## Notice URLs - http://www.met.police.uk - https://supplier.coupahost.com/quotes/public_events?customer=metpolice ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-420396ed-893c-4201-827c-c916309dbb1b.json.