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.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 be required to ensure government is well positioned to take advantage of the changing payment technology landscape. The contracts awarded provide a pan government framework agreement for use by the UK public sector bodies detailed in the Contract Notice. Government Banking Service suppliers will 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 framework agreement is being awarded to a single contractor per Lot.