Tendring District Council saves £15,000 using ESPO’s Banking Services framework (384)

Published on 18/06/2015

The requirement

Tendring District Council needed to find a replacement bank as the announcement was made that the Co-operative Bank was intending to strategically withdraw from the local authority market by March 2015. Although one of the Council’s main aims was therefore to appoint a new bank, the Council were also keen to ensure that:

  • value for money banking services were secured;
  • the new contract would work alongside the Council’s existing contracts for cash collection, processing of payments by debit and credit card, and processing bar code bill payments, in a straightforward and seamless manner; and
  • efficient and effective working relations would be established with the new banking provider.

The solution

The Council had started work on producing its own tender documentation when it became aware that ESPO had a national framework solution that offers three lots: general banking services, merchant acquiring services and bill payment services, which was open to use by the UK public sector.

Knowing that the framework was EU and UK compliant and the banks listed on the framework had already been through a fair, transparent and compliant public procurement process undertaken by ESPO, Tendring District Council were confident in the fact that this would not be a long, rigorous process but in actual fact a straightforward, streamlined journey. In particular, the framework removed the need to conduct a pre-qualification stage and assess the banks against a range of quality standards as this had already been completed by ESPO.

The results

Following the further competition exercise carried out by the Council under the Banking Services framework (384), Lloyds were successfully awarded the contract which was effective from November 2014.

To demonstrate value for money the Council compared the tender price for the service level quoted by Lloyds against the price of the same service level with their current bank. This showed annual savings of approximately £15,000.

To view the Banking Sevices framework (384) please click here

Click here to view a printable version

For further information, please contact: 

Professional Services Team
0116 294 4072

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