Money Transmission Services for Government Banking Lot 3

A Contract Award Notice
by HM REVENUE & CUSTOMS

Source
Find a Tender
Type
Contract (Services)
Duration
12 year (est.)
Value
£55M
Sector
BUSINESS
Published
31 Jul 2025
Delivery
To 31 Jul 2037 (est.)
Deadline
n/a

Concepts

Location

London

Geochart for 2 buyers and 1 suppliers

2 buyers

1 supplier

Description

His Majesty's Revenue and Customs (HMRC) is the UK's tax, payments and customs authority and collects the money that pays for the UK's public services and gives financial support to people. Government Banking sits within HMRC and is the banking shared service provider to Government and the wider public sector, providing banking services to over 600 organisations. To deliver the direct-to-bank model and facilitate payments in and out of Government, Government Banking contracts with commercial banks. This contract will be enabled for use by GB customers including Government departments, executive agencies, non-departmental bodies, and the wider public sector. This Lot 3 contract has been awarded for an initial term of 8 years with four 12 months possible extension options.

Total Quantity or Scope

Government Banking (GB) sits within HMRC and is the banking shared service provider to Government and the wider public sector, providing banking services to over 600 organisations (hereafter referred to as "customers"). To deliver the direct-to-bank model and facilitate payments in and out of Government, GB contracts with commercial banks. The contracts will be enabled for use by GB customers including Government departments, executive agencies, non-departmental bodies, and the wider public sector( including the National Health Service). The procurement was conducted via the Restricted Procedure.

Award Detail

1 Citibank Na London Branch (London)
  • Num offers: 5
  • Value: £55,020,000

Renewal Options

Four optional 1 year extensions.

Award Criteria

Technical Quality 60.0
Social Value 10.0
Price 30.0

CPV Codes

  • 66110000 - Banking services
  • 66170000 - Financial consultancy, financial transaction processing and clearing-house services
  • 66180000 - Foreign exchange services

Indicators

  • Options are available.
  • Award on basis of price and quality.

Reference

Domains