---
title: "Banking Services"
ocid: "ocds-h6vhtk-02b028"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02b028"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-02b028.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-02b028.json"
source: "Find A Tender Service"
current_stage: "Tender"
buyer: "METROPOLITAN POLICE SERVICE"
published: "2021-05-12"
---

# Banking Services

Buyer: METROPOLITAN POLICE SERVICE  
Current stage: Tender  
OCID: ocds-h6vhtk-02b028

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[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-02b028.json)

## Summary

The Metropolitan Police Service is currently undertaking an open tender process for "Banking Services" within the financial services industry, located in Greater London. This procurement initiative aims to source a qualified bidder to manage approximately 80 bank accounts, including a Fund Main Supply Account and a Fund Drawing Account, for an initial term of 60 months with the possibility of extending for up to 84 months. The tender process is active, with submissions due by 11 June 2021, and the contract is expected to commence on 1 March 2022.

This tender presents significant opportunities for financial institutions and banking services providers, particularly those adept at managing multiple accounts with a high degree of efficiency, such as automatic transfers and rapid account setup. Companies capable of offering a comprehensive suite of banking functionalities, including account management for third-party funds and compliance with specific operational requirements, are best suited to compete for this contract. This tender could facilitate substantial business growth for bidders who align their services with the needs of the Metropolitan Police Service.

## 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 (further detail in the Requirements Specification) 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.

### Lot Information

Lot 1

The Authority is managing this tender via an open tender process to source the most suitable banking service. It is envisaged the contract will be let on a 5+2 year basis. For further details, please read through the requirements specification and ITT documents Via Coupa: https://supplier.coupahost.com/quotes/public_events?customer=metpolice You can register your interest and participate in the tender process via the Coupa Portal. If you experience any issues with access and the service desk are unable to assist you, then place e-mail Hannah.lloyd@met.police.uk Additional information: If you experience any issues with access and the service desk are unable to assist you, then place e-mail Hannah.lloyd@met.police.uk

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/010423-2021 |
| 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 | 12 May 2021 |
| Submission deadline | 11 Jun 2021 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £2,450,000 |
| Lots value | £2,450,000 |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Active |
| Lots status | Active |
| 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

- 66000000 - Financial and insurance services
- 66100000 - Banking and investment services

## Release History

- 12 May 2021 at 12:48 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/010423-2021

## Notice URLs

- http://www.met.police.uk
- https://supplier.coupahost.com/quotes/public_events?customer=metpolice
- https://www.met.police.uk

## 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-h6vhtk-02b028. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-02b028.json.