General money transmission banking services.
The contract awarded is for general money transmission banking services and includes maintenance of Council bank accounts, Faster Payments, BACS, CHAPS and paper clearing as well as cash handling. An internet banking service is also required for balance/transaction reporting and payment initiation.
Sheffield City Council requires a comprehensive banking service involving maintenance of Sheffield City Council's bank accounts, handling of paper, BACS and CHAPS clearing, cash processing and other activities associated with local authority banking business. Sheffield City Council will require an internet banking service for balance/transaction reporting and payment initiation