To continue to use NatWest for money transmission services and credit facilities.

NatWest Bank has been the council’s banker since the council was formed in 1998.

A five year extension would mean that there are no costs associated with a formal tender process or the potential disruption of moving to a new bank.

Currently four banks prove full banking services to local authorities (NatWest Bank, Lloyds Bank, Barclays Bank and HSBC). An independent review of the current terms, agreed in 2015, indicates that charges being incurred are lower than those likely to be achieved in a tender exercise.

The Council is satisfied with the current level of service therefore a contract extension is proposed.

The current contract expires on 31 May 2020 therefore a five year extension would result in an end date of 31 May 2025.

In addition the council has completed a twelve month pilot period of the use of procurement cards throughout the council. The use of procurement cards supports the organisation in achieving its outcomes by maximising value from the procurement spend process within a clear framework of accountability and responsibility. As the pilot period is reaching its conclusion an internal audit supports the continuation and further expansion of this procurement method. Therefore to award the provision of procurement cards by NatWest until 31 May 2025 via a direct award under CCS framework is recommended.