Awarded contract

Banking Services

Details

Value
£640,000
Duration
5 years
Topic
Banking and investment services
Published
29 September 2025

Tender description

This contract is for banking services which will support the financial operations of the council via the continued provision of a main bank account, subsidiary collection and sweep accounts, and specified school accounts. It will also support the council's safeguarding role with the provision of court of protection bank accounts. The contract will deliver core transactional banking arrangements, providing bank account structures to be used for outgoing payments such as creditor cheques, CHAPS, BACS, direct debits, standing order payments, balance requests, and the access to ancillary services such as system files for receipting income. It is a call-off from General Banking Services Framework NEPO 0531.

Timeline

  1. Completed: Award published29 September 2025
    Current notice
  2. Completed: Award date1 October 2025
  3. Next: Contract expiry date30 September 2030in 4 years

About the buyer

London Borough of Southwark is a local authority in south London, and buys as a local government organisation with its contracts advertised through its own eProcurement portal. Suppliers register free on the portal to view and respond to live opportunities. Contract opportunities are also published on the London Portal, a shared system used by 22 further London boroughs. The council also procures through framework agreements for repeat requirements. Contractors seeking most construction work join an approved list before they can bid. The council keeps a public contract register to meet local government transparency requirements.

UK local government drives £140bn in annual procurement, led by social protection (£66.6bn) and education (£57.1bn).

Over the past 5 years, most of London Borough of Southwark's contract awards have been in health and social work, repair and maintenance and software and information systems.

Relevant CPV codes

  • 66100000 · Banking and investment services

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