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.

1.1 A fixed term 5 year contract for banking services.

1.2 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.

1.3 The ability to pool these main accounts, with the contractual right to offset for both balances and interest calculation.

1.4 A further account which is to be segregated from the main accounts, but administered through the same internet banking portal as the main accounts.

1.5 A Head Office Collection Account (HOCA) for the receipt of school and library payments, (or any legitimate, cost effective replacement system).

1.6 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 detailed in 1.2.