INVITATION TO TENDER FOR BANKING SERVICES

Gloucestershire County Council (GCC) intends to procure a transactional banking provider for general banking services. The banking service requirements of GCC are below. A fixed term 5 year contract for banking services. Four (4) main bank accounts, with the ability to be administered through internet banking, which can handle common forms of banking transaction, including foreign generated transactions. The ability to pool these main accounts, with the contractual right to offset for both balances and interest calculation. A further account which is to be segregated from the main accounts, but administered through the same internet banking portal as the main accounts. A Head Office Collection Account (HOCA) for the receipt of school and library payments, (or any legitimate, cost effective replacement system). In addition to the main accounts, approximately 160 accounts are maintained for schools and other establishments. These are operated independently from the main bank accounts and have their own signatories, they are not subject to the account balance pooling arrangement Of the accounts detailed in 1.5, 20 will be charged centrally via the agreed process, the remainder will pay their own charges. Real-time payment processing for BACS, CHAPS and Faster Payments A "daylight" facility for the payment of BACS, CHAPS and Faster Payments of no less than £50m. Individual daily Service User Number limits of: - Pensions Payments: £10m - Payroll Payments: £25m - Creditor Payments: £20m - Pension Direct Debits: £1m Bank reconciliation data provided via the internet An automatic sweeping facility between the main accounts Full online banking facility, including online bank statements, transaction searching online payment facilities Cheque paying-in facilities both bulk and non-bulk The facility to open a reasonable number of new accounts as business need occurs Contingency arrangements for banking by telephone or over the counter in case of online banking issues, or issues at GCC's site Standard cheque and credit books for the main account A named relationship manager who will be the major point of contact for the management of the contract A clear set of service level agreements, outlining minimum service performance, and a clear dispute resolution procedure Full training on all online banking systems will be required during transition, and on an ongoing basis as required