Banking Services

Description

The Council is aiming to enter into a long term relationship with an appropriate financial institution for the delivery and development of day to day operational banking services. The Council currently has 7 accounts with its current provider (6 current accounts and 1 deposit account): • Collection Account • Payments Account • General Account • Returns Account • Ping-It Account • Overnight Account • Deposit (Reserve) Account We would be looking to implement a similar arrangement under the new contract. In accordance with its Constitution and to satisfy public accountability requirements, the Council will eventually choose the preferred organisation following a tendering exercise.

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