Contract award · 18 Jun 2025

Money Transmission Services for Government Banking

HM Revenue & Customs awarded “Money Transmission Services for Government Banking” to National Westminster Bank plc for £167m on 18 Jun 2025.

Financial & insurance servicesNorth West

Value £167m

Open competition

Open procedure: the contract was advertised and any supplier could submit a bid.

Key facts

Buyer
HM Revenue & Customs · National or federal agency/office
Value
£166,800,000
Procedure
Open procedure
Sector
Financial & insurance services · Banking services (CPV 66110000)
Timeline
  1. Contract date18 Jun 2025
  2. Published29 Jul 2025Published 41 days after the contract date

Description

His Majesty's Revenue and Customs (HMRC) is the UK's tax, payments and customs authority and collects the money that pays for the UK's public services and gives financial support to people. Government Banking (GB) sits within HMRC and is the banking shared service provider to Government and the wider public sector, providing banking services to over 600 organisations (hereafter referred to as "customers"). To deliver the direct-to-bank model and facilitate payments in and out of Government, GB contracts with commercial banks. The contracts will be enabled for use by GB customers including Government departments, executive agencies, non-departmental bodies, and the wider public sector( including the National Health Service).

About the supplier

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