DWP Payment Contingency Service
This procurement is for the provision of the DWP Payment Contingency Service. A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments i...
Buyer
Department for Work & Pensions
Value
£1,000,000,000
Published
19 Aug 2022
Closes
14 Nov 2021
Procurement details
Source
Find a Tender
Region
Westminster
Procurement method
Open
Category
Services
Contract starts
Not provided
Contract ends
Not provided
CPV classifications
66000000
Financial and insurance services
66110000
Banking services
Lots
Lot 1 LOT 1 - Short Term Payment Contingency
Value not provided
A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure when DWP are required to invoke contingency services
Delivery: United Kingdom
Lot 2 Lot 2 - Sponsor Bank
£502,200
A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate.
Delivery: United Kingdom
Lot Lot 1 Lot 1 - Short Term Payments Service (STPC)
Value not provided
This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date...
Delivery: United Kingdom
Documents
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Contains public sector information licensed under the Open Government Licence v3.0.