FOI Request - Banking & Financial Services

Request 101000121254

(1) For the complete suite of council financial services (transactional banking and investment), which *provider(s) does the Council currently use, and how many individual accounts are held with each listed financial services provider? (2010/11 and 2011/12 financial years).

(2) How frequently are the various financial services procured, and when is the existing arrangement due to end (month/ year) - for each listed provider?

(3) What was the average balance(s)/ cap on investment(s); of accounts held with each listed provider as at last audit? (for transactional & investment banking).

(4)  Please provide the specific procurement criteria and weighting that the council uses to assesses and procures financial services.

(5) Detail if, and how, the procurement criteria, weighting, and assessment process has been reviewed and modified, to give effect to Best Value Guidance and the Public Services (Social Value) Act 2012 to maximize public socio-economic value via procurement.

*Please include relevant data for credit unions, building societies, local, mutual, ethical & high street retail/ investment banks, treasury management services, as well as funds with Peer-to-Peer (P2P) lenders.

Response 15-02-2013

1.  a) Bank of Scotland, 26 Accounts                    b) Co-operative Bank, 1 Account (Holding Account to accept Post Office Pay Point payments).

2.  Bank of Scotland were appointed for 5 years to be the Council's provider of banking services. Current contract ends 31 August 2014.

3.  Information not held by us.

4.  Last Invitation to Tender document can be found here PDF Logo

5. Review was carried out prior to last tender, will be reviewed again before next tender.

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