---
title: "DWP Payment Contingency Service - Lot 2 Sponsor Bank"
ocid: "ocds-b5fd17-adebe5ef-ba5d-4665-84e6-1c8648d555a4"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-adebe5ef-ba5d-4665-84e6-1c8648d555a4"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-adebe5ef-ba5d-4665-84e6-1c8648d555a4.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-adebe5ef-ba5d-4665-84e6-1c8648d555a4.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEPARTMENT FOR WORK AND PENSIONS"
published: "2022-10-31"
---

# DWP Payment Contingency Service - Lot 2 Sponsor Bank

Buyer: DEPARTMENT FOR WORK AND PENSIONS  
Current stage: Award  
OCID: ocds-b5fd17-adebe5ef-ba5d-4665-84e6-1c8648d555a4

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## Summary

The Department for Work and Pensions has awarded a contract for the DWP Payment Contingency Service - Lot 2 Sponsor Bank. This procurement falls under the financial and insurance services category with a total contract value of £502,200. The contract period runs from 1st July 2022 to 30th June 2025. The procurement method was an open procedure, and the tender closed on 27th March 2022. The awarded contract was published on 19th August 2022.

This tender presents an opportunity for businesses in the financial and insurance services industry, specifically those providing banking services. The Department for Work and Pensions required a Sponsor Bank to ensure the functionality of the Payment Contingency Services. Businesses interested in providing such services and operating within the specified contract period should consider this opportunity for growth and collaboration. The contract value and duration offer stability for long-term business planning and development.

## Notice

This procurement is for the provision of the DWP Payment Contingency Services and a Sponsor Bank. This awarded contract relates to Lot 2 - Sponsor Bank. A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation. The end to end Payment Contingency service requires two separate components, these are: - LOT 1 - A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure - LOT 2 - A Sponsor Bank for the settlement of funds with the Bank of England.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/4c7c9266-5960-4687-bad7-a83a800d8e80 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 31 Oct 2022 |
| Submission deadline | 27 Mar 2022 |
| Future notice date | Not specified |
| Award date | 2 Aug 2022 |
| Contract period | 30 Jun 2022 - 30 Jun 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £502,200 |
| Lots value | Not specified |
| Awards value | £547,200 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEPARTMENT FOR WORK AND PENSIONS |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1H 9NA |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | HSBC BANK |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services
- 66110000 - Banking services

## Release History

- 31 Oct 2022 at 12:08 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/4c7c9266-5960-4687-bad7-a83a800d8e80
- 19 Aug 2022 at 15:26 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/4c7c9266-5960-4687-bad7-a83a800d8e80
- 19 Aug 2022 at 14:30 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/4c7c9266-5960-4687-bad7-a83a800d8e80

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/4c7c9266-5960-4687-bad7-a83a800d8e80
  31st October 2022 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/2441494d-575d-429a-94b2-7b547d0b7bc0
  n/a

## Notice URLs

- https://www.gov.uk/government/organisations/department-for-work-pensions

## Provenance

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