---
title: "Banking Services"
ocid: "ocds-h6vhtk-02ec50"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02ec50"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-02ec50.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-02ec50.json"
source: "Find A Tender Service"
current_stage: "Tender"
buyer: "LONDON BOROUGH OF BARNET"
published: "2021-10-15"
---

# Banking Services

Buyer: LONDON BOROUGH OF BARNET  
Current stage: Tender  
OCID: ocds-h6vhtk-02ec50

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02ec50)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-02ec50.json)

## Summary

The London Borough of Barnet is currently conducting an open tender process for Banking Services, aimed at securing a comprehensive money transmission banking service. This contract, valued at £367,500, is set to last for five years with an option to extend for an additional two years. Key dates include the tender closing on 15 November 2021, with the award period commencing later the same day. The procurement is classified under services, specifically focusing on banking activities required by local authorities, including maintenance of various bank accounts and cash processing activities in the UK.

This tender presents a valuable opportunity for financial institutions and banking service providers aiming to expand their market presence within the public sector. Organisations that are licensed and authorised to operate as banks in the UK will be particularly well-placed to compete, as they must demonstrate compliance with the Prudential Regulation Authority's requirements. The emphasis on aspects such as relationship management and service delivery indicates that firms with strong customer service capabilities and proven banking experience in handling local authority accounts will be favoured in the selection process.

## Notice

London Borough of Barnet requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts(including accounts for schools), handling of paper, BACS/Faster Payment and CHAPS clearing, cash processing and other activities associated with local authority banking business. Credit facilities (i.e. overdraft facility, BACS limits, settlement risk limits) will also be required. The Council will require an internet banking service for balance/transaction reporting and payment initiation. The Council require a five year contract with extension option of 2 years.

### Lot Information

Lot 1

London Borough of Barnet requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts(including accounts for schools) , handling of paper, BACS/Faster Payment and CHAPS clearing, cash processing and other activities associated with local authority banking business. Credit facilities (i.e. overdraft facility, BACS limits, settlement risk limits) will also be required. The Council will require an internet banking service for balance/transaction reporting and payment initiation. The Council require a 5 year contract plus 2 year extension option. Additional information: Tender documents are accessible from LBB's procurement portal www.barnetsourcing.co.uk under current opportunities. Please register and this will enable access to tender documents Should you experience technical difficulties with the portal please contact support@curtisfitchglobal.com explaining these and that they relate to this opportunity

Renewal: 2 year extension option subject to performance review and budget

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/025827-2021 |
| 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 | 15 Oct 2021 |
| Submission deadline | 15 Nov 2021 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £367,500 |
| Lots value | Not specified |
| 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 | LONDON BOROUGH OF BARNET |
| Locality | COLINDALE LONDON |
| Post town | North West London |
| Postcode | NW9 4EW |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI7 Outer London - West and North West |
| ITL 3 | TLI71 Barnet |
| Local authority | Barnet |
| Electoral ward | Colindale North |
| Westminster constituency | Hendon |
| Delivery location | TLI71 Barnet |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66110000 - Banking services

## Release History

- 15 Oct 2021 at 11:15 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/025827-2021

## Notice URLs

- http://www.barnetsourcing.co.uk
- https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit

## 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-02ec50. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-02ec50.json.