# LPS CORP - Provision of Banking Services - RFQ 15218794

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [Lancashire County Council](/buyers/lancashire-county-council/contract-awards)
- Contract winner: [National Westminster Bank Plc](/contract-winners/national-westminster-bank/public-sector-contract-awards)
- Award value: £817,000
- Tender value: £800,000
- Award date: 2 January 2019
- Published: 8 January 2019
- Contract start: 1 April 2019
- Contract end: 31 March 2029
- Stage: awarded
- Procurement category: services
- Notice ID: 5d998590-8239-407f-a673-b35d6231490c-262286
- OCID: ocds-b5fd17-3f96ce4a-c507-45c7-9307-f3ddc44c0d04

## Description

Lancashire County Council \(the Authority\) is seeking to appoint an investment grade commercial bank to process the financial transactions of the Authority as well as other organisations for which the Authority provides banking and treasury management services via annual service level agreements\. These organisations currently include the Police and Crime Commissioner for Lancashire, Lancashire Combined Fire Authority, Lancashire County Pension Fund, and Lancashire County Developments Ltd\. The Authority currently manages banking services by operating six main accounts, three supplementary accounts, and circa 300 low value/low volume Imprest/sub Imprest petty cash accounts\. These are structured in a way that allows for pooling of balances for certain accounts\. The Authority requires an investment grade commercial bank to provide and maintain these accounts, providing BACS and CHAPS clearing, faster payments, cash processing, foreign payments and currency and any other financial transactions that may be required\. There is also a requirement to provide online banking facilities\. The Authority intends to utilise a lifecycle costing approach to this tender\. More specifically, the Authority has developed an estimate for the cost of change that the Authority will incur to update the information technology of the Authority's financial systems in the event of a change of provider\. This figure will be factored into the financial evaluation as described in the tender documents\.

## Related contract awards

- [NEPRO3 - Transformational Projects: Preston Station Quarter](/contracts/ocds-b5fd17-4890399b-d522-42e4-98b2-49d83a5b555e): Lancashire County Council
- [Enterprise Resource Planning \(ERP\) Solution](/contracts/ocds-b5fd17-0bd69da3-2f77-4d26-ad52-c67f2c59759e): Lancashire County Council
- [National Parking Platform](/contracts/ocds-b5fd17-931403a2-ea7c-4b7b-96cc-7c834ce19c50): Lancashire County Council
- [COV - Banking Services \(2026\)](/contracts/ocds-b5fd17-01295962-3fbe-4d4e-9e12-7901553928fa): COVENTRY CITY COUNCIL
- [Open Banking Services](/contracts/ocds-b5fd17-f1bce90c-cc77-4309-8b51-3bfa4b2a6c5e): Havant Borough Council
- [General Banking Services - Framework Call off under NEPO531](/contracts/ocds-b5fd17-672d5f78-5113-4657-a3bf-aaf56445c9d7): Leicestershire County Council

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/5d998590-8239-407f-a673-b35d6231490c-262286)