Financial and insurance services

Tender description

The Council is seeking tenders for the provision of money transmission banking services. Local Government Reorganisation has taken place in the County of Buckinghamshire, which resulted in the new Buckinghamshire Council on 1 April 2020 replacing the former district councils (Aylesbury Vale, Chiltern, South Bucks, Wycombe) and the former Buckinghamshire County Council. The banking arrangements maintained by the former councils are currently provided by a range of different banks and these arrangements will continue until the new banking contract for Buckinghamshire Council is implemented. Buckinghamshire Council requires a comprehensive money transmission banking service involving maintenance of numerous bank accounts, handling of paper, BACS and CHAPS clearing, cash processing and other activities associated with local authority banking business. The Council will require an internet banking service for balance/transaction reporting and payment initiation. The contract is to commence on 1 April 2021 and run for a period of 5 years. The Council will require the option to extend the contract for a further 2 years (making a maximum possible contract length of 7 years).