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Banking and financial services contract

This contract covers transactional banking, customer payment and collection services.

Update

A new contract has been set up to deliver the State’s Banking and Financial Services.

The new contract will start on 1 October 2021 with a transition period of 6 months, ending 31 March 2022.

The new contract applies to all departments and agencies subject to the Standing DirectionsExternal Link .

Summary

This contract covers transactional banking, payment and collection services.

Lead agency: Department of Treasury and Finance

Conditions of use: Mandatory

Contract reference number: SS-08-2020

Arrangement type: Panel

Start date: 1 October 2021

End date: 30 September 2026

Key benefits

Key benefits of the new contract are:

  • competitive rates for banking services
  • increased support for the State's Central Banking SystemExternal Link
  • maximum coverage of functional and geographic requirements
  • continued investment in product development
  • access to economic spend data and insights
  • greater opportunity to influence social procurement outcomes through a broader supplier base
  • increased access to value-add industry products and services

What’s covered

Agencies can choose to use one bank or a combination of panel banks for different services.

Services and associated pricing provided by each of the banks are not identical. Compare services and pricing offered.

The new contract provides the following banking and financial services:

Module 1 – Core transactional banking

  • transactional banking arrangements, bank account structures (including pooling arrangements), and ancilliary services such as account maintenance
  • a branch network to receive cash and cheques and offer encashment facilities
  • cheque issuance and collection/negotiation
  • BPay
  • electronic payment services including payroll and outsourced payments
  • electronic banking system capabilities, including an interface to receivables and general ledger systems

Module 2 – Merchant services / acquiring

Inbound credit card and debit card receipts including through:

  • electronic funds transfer at point of sale
  • interactive voice response
  • operator assisted payments
  • gateway services

Module 3 – Purchasing / Procurement cards

  • procurement cards
  • virtual cards
  • prepaid, rechargeable and one-off cards
  • interfaces to expense management systems

Module 4 - Omni Payment Channels

  • collection services including over-the-counter bill payments
  • other collection/payment services both in Australian Dollars and foreign currencies

Suppliers

Suppliers from 1 October 2021:

Commonwealth Bank of Australia

Address: Level 21, Tower One, 727 Collins Street, Docklands, VIC, 3008

Contact Name: Edward Masters

Title: Director, Transaction Banking Solutions - Institutional Banking & Markets

Phone / Mobile: (03) 9675 7714 / 0404 819 086

Email: edward.masters@cba.com.au

National Australia Bank Limited

Address: Level 17, 395 Bourke Street, Melbourne, VIC 3000

Contact Name: Fiona Anderson

Title: Director, Government, Corporate & Institutional Bank

Mobile: 0467 774 402

Email: fiona.l.anderson@nab.com.au

Westpac Banking Corporation

Address: Level 7, 150 Collins Street Melbourne VIC 3000

Contact Name: Felix Rosman

Title: Head of Public Sector Victoria

Mobile: 0419 238 179

Email: felix.rosman@westpac.com.au

How buyers join this contract

Buyers need to request access to the confidential information system to join this contract.

Contract transition – key dates and activities

The new contract will start on 1 October 2021 with a transition period of 6 months, ending 31 March 2022.

Agencies must complete transition activities by a set time. Agencies are encouraged to start planning transition activities.

Access transition requirements and dates.

How buyers use this contract

Current contract: all services provided to Agencies under the current contract will be maintained throughout the transition period.

New contract: Refer to transition requirements.

Frequently asked questions

Access frequently asked questions about this contract and the Central Banking System.

Reviewed 01 December 2021

Buying for Victoria

Primary contact:

Banking SPC Category Manager Department of Treasury and Finance

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