Purpose

To seek approval for a direct award to HSBC for a 3 year contract to provide the Council’s banking services.

Reasons for the decision

To ensure continuity of current Banking services which is a critical function as it impacts all aspects of the Councils ability to function.

Alternative options considered

3.1 Go out to tender via Council’s e-Tendering system and advertise on Contract Finder, this would result in a new banking provider, this would result in significant staff resources in time and testing for little financial benefit.
3.2 Use a Procurement Framework to select a new banking provider, this would result in significant staff resources in time and testing for little financial benefit.