R5798 Banking Service

Concepts

• banking services
• tower hamlets
• operation of bank accounts
• recent years bank
• effective banking contract
• banking service
• internet banking service
• local authority contracts
• related processes
• payments

Location

Description

Banking services for London Borough of Tower Hamlets. To procure a cost effective banking contract which will include the operation of bank accounts, cash/cheque handling and automated payments and receipts (i.e. BACS, Faster Payments, CHAPS). An internet banking service (for payment initiation and balance/transaction reporting) will also be required. In recent years bank have been increasing pricing for local authority contracts so it unlikely that direct cost savings will be secured. However, the procurement process will allow the Council to review banking related processes and may present the opportunity to make internal efficiency savings.

CPV Codes

• 66110000 - Banking services