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 .
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
- 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.
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