--- title: "R5798 Banking Service" ocid: "ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c.json" source: "Contracts Finder" current_stage: "Tender" buyer: "TOWER HAMLETS" published: "2022-08-18" --- # R5798 Banking Service Buyer: TOWER HAMLETS Current stage: Tender OCID: ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c.json) ## Summary The London Borough of Tower Hamlets is inviting tenders for banking services. The procurement process aims to secure a cost-effective banking contract involving bank account operations, cash handling, and automated payments. An internet banking service will also be required. The contract is valued at 175,000 GBP and follows an open procedure with a tender period ending on 19th September 2022. The contract is for services and spans from 1st April 2023 to 31st March 2028. This procurement opportunity provides the chance for businesses to offer banking services to the public sector. Companies with experience in providing banking solutions, particularly to local authorities, are well-suited to compete. Tower Hamlets Council is seeking efficiency savings through this process, offering an opportunity for suppliers to showcase innovative and cost-effective banking solutions to enhance internal processes. ## Notice Banking services for London Borough of Tower Hamlets. To procure a cost effective banking contract which will include the operation of bank accounts, cash/cheque handling and automated payments and receipts (i.e. BACS, Faster Payments, CHAPS). An internet banking service (for payment initiation and balance/transaction reporting) will also be required. In recent years bank have been increasing pricing for local authority contracts so it unlikely that direct cost savings will be secured. However, the procurement process will allow the Council to review banking related processes and may present the opportunity to make internal efficiency savings. To Tender: a) Go to https://procontract.due-north.com/Opportunities b) Register, c) Search for tender opportunity "R5798 Banking Service", d) Express an interest, You will be required to register on the portal to bid. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/b148d8f3-b9a8-4c1f-886c-ef0c114530a6 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 18 Aug 2022 | | Submission deadline | 19 Sep 2022 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 31 Mar 2023 - 31 Mar 2028 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £175,000 | | 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 | TOWER HAMLETS | | Locality | LONDON | | Post town | East London | | Postcode | E14 2BG | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI4 Inner London - East | | ITL 3 | TLI42 Tower Hamlets | | Local authority | Tower Hamlets | | Electoral ward | Poplar | | Westminster constituency | Poplar and Limehouse | | Delivery location | TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England) | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66110000 - Banking services ## Release History - 18 Aug 2022 at 08:58 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/b148d8f3-b9a8-4c1f-886c-ef0c114530a6 - 17 Aug 2022 at 17:04 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/58f5f748-04b0-4399-855b-fa8fede4afa0 - 17 Aug 2022 at 16:52 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/062d413e-0e1f-4a13-9a4e-e19e55cd7dd9 - 17 Aug 2022 at 15:16 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/b7a4b548-4896-4b62-9084-5193cec5560f ## Documents - https://www.contractsfinder.service.gov.uk/Notice/b148d8f3-b9a8-4c1f-886c-ef0c114530a6 18th August 2022 - Opportunity notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/58f5f748-04b0-4399-855b-fa8fede4afa0 17th August 2022 - Opportunity notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/062d413e-0e1f-4a13-9a4e-e19e55cd7dd9 17th August 2022 - Opportunity notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/b7a4b548-4896-4b62-9084-5193cec5560f 17th August 2022 - Opportunity notice on Contracts Finder ## Notice URLs - http://www.towerhamlets.gov.uk - https://procontract.due-north.com/Opportunities ## 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-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-5f0920e0-74fb-4f28-a7e5-1e2a926f758c.json.