Banking services

Tender description

This specification is for one banking service provider with whom we will hold current accounts and credit cards as detailed in the requirements below. This provider will also offer payment options for us and for our customers and an overdraft facility. Requirements: Minimum of 4 current accounts for 3 legal entities, with scope to increase this if the group expands. A quick and straightforward process to update bank mandates as needs change. An overdraft facility of 2 000 000 GBP. Convenient way(s) to pay in cash and cheques received, and to make cash withdrawals across the Tees Valley. Online system access to download real time banking information (cloud based system preferred), with integrated payment and account transfer functions. Account information must be available to download in PDF and Excel/CSV format. Must be able to import payments created in our Open Accounts finance system. Payments will consist of BACS, faster payments (same day and future dated) and CHAPS payments. We may also infrequently make international payments. Payment function must be able to mirror signing rules on bank mandates, with segregation of duties between inputter and authoriser, allowing for dual level authorisation where required. Around 60 credit cards with an overall group credit limit of around 250 000 GBP. Online management of credit cards including the ability to adjust individual cardholder limits is essential. The option for contactless credit cards is desirable, as is the option for prepaid debit cards. A named relationship management team that can provide quality support as and when required. An innovative approach to fraud, financial inclusion and alternative payment solutions to benefit the Group and our customers.