Banking services. Central bank services. Financial transaction processing and clearing-house services. Foreign exchange services. Treasury services. International payment transfer services. The Government Banking Service was established in April 2008 and is the banking shared service provider to government and the wider public sector. It is part of HM Revenue & Customs and incorporates the Office of HM Paymaster General which has provided banking services to the public sector since 1836.
The Government Banking Service's core purposes are to
1) Hold the working balances of HM Government at the Bank of England,
2) To facilitate modern cost effective direct to bank money transmission services for its customers; and
3) To ensure timely and accurate reporting to HM Treasury to help improve Government Cash Management and reduce Government borrowing costs.
Government Banking Service has a requirement to contract with long term strategic partners which can provide value-for-money money transmission services to its customers.
Government Banking Service aims to contract with partners which are willing to develop knowledge, understand the needs of its customers and work with them to innovate on a whole range of payment activity for the benefit of the UK.
The services will evolve rapidly over the proposed life of the framework agreement and the Government Banking Service partners will be required to provide flexible, sustainable solutions which help government achieve its ‘digital by default' agenda.
The partners will also be required to ensure government is well positioned to take advantage of the changing payment technology landscape.
The procurement exercise is seeking to establish a pan government framework agreement for use by the UK public sector bodies at V1.3 below. Government Banking Service is seeking suppliers which can provide Money Transmission Services in respect of the following Lots:
Lot 1: Banking and Financial Services - Bank A
Lot 2: Banking and Financial Services - Bank B
Lot 3: Bulk Foreign Exchange Services
The required services are outlined in the sections below: "Information about lots".
The intention is to award the framework agreement to more than one contractor; with a single contractor per Lot. For more information on the lots, please see II.1.8.
Tenderers must note that quantity, value and volumes under the framework agreement are not guaranteed and are indicative figures for information only.