- Value
- £1.2m
- Stage
- Early notice
- Where
- UK-wide
- Lots
- 1
- Suitable for SMEs
- Not stated
- Contract
- 1 Jul 2027 – 30 Jun 2032
In plain English
DWP is planning a future procurement for a Sponsor Bank service, which settles funds with the Bank of England as part of its payment contingency arrangements for benefit and pension payments, worth £1,223,740 over a contract running from 1 July 2027 to 30 June 2032. This is a planned procurement notice only, not yet open for bids – full details and how to express interest will follow in a later Tender Notice.
Good fit for: Banks or financial institutions able to act as a sponsor bank for settlement with the Bank of England
- Must register on the new Central Digital Platform to take part
It is mandatory for any interested suppliers to register on the new Central Digital Platform (CDP)
- Linked to a separate, interdependent contract (STPC) that may be awarded or withdrawn independently
each procurement may be awarded, delayed, or withdrawn independently of the other
Written with AI from the official notice. Check the notice before relying on it.
What the buyer says
The Department for Work and Pensions (DWP) wish to give notice of planned procurement opportunity in relation to two linked but separate future procurements for DWP payment contingency services (together referred to in this notice as the “Payment Contingency Services (“PCS”)). The intention of the PCS is to ensure DWP has robust contingencies in place to make benefit and pension entitlement payments to its customers on the dates they are due. The PCS are invoked only in exceptional circumstances where there is a delay in DWP releasing Bacs payment file(s). The DWP intends for the relevant services to be provided under two separate, interdependent contracts (both of which are required to allow for invocation of PCS) as follows: Short Term Payment Contingency (“STPC”) : This service reformats Bacs payments files into Faster Payment files for onward submission into the Faster Payment infrastructure Sponsor Bank (“SB”) : This service is required for the settlement of funds with the Bank of England. Please note that as these are separate procurements, different procurement processes and/or commercial approach may apply to each procurement. In addition, each procurement may be awarded, delayed, or withdrawn independently of the other. This notice relates specifically to the SB procurement. A separate UK3 Planned Procurement Notice has been issued for the STPC procurement, which can be found on Find a Tender Service. Please note that: - Further information and relevant guidance will be provided in or with the UK4 Tender Notice, published on Find a Tender Service website. - UK 4 Notice and associated procurement documents provided with that notice will outline how and when to express your interest to participate in the procurement process. - All procurem…
What happens next
This is an early notice: the buyer is planning a tender, and its documents come when the tender is published. Read the official notice for the details.
Procedure: Competitive flexible procedure (Flexible: the buyer sets the stages, often a shortlist first, then bids). Published 15 Oct 2026.
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