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Banking services

Part of: Finance All-of-Government

An All-of-Government (AoG) panel of four banking services providers covering core Crown transactional banking services, foreign exchange services, payment services, and card services. Transactional banking services are also available to non-core agencies.

Key details

Status

Current View dates

Type

All-of-Government

Lead agency

Ministry of Business, Innovation and Employment

Contact

procurement@mbie.govt.nz

Latest news

ASB joins banking panel

MBIE announces banking services panel – Ministry of Business, Innovation and Employment

What's covered

The AoG banking services solution includes 5 banking services sub-categories.

Core Crown transactional banking services

This service is provided by Westpac only. It covers:

  • Opening and maintaining transactional bank accounts including crown, departmental, trust, foreign currency, and term deposits
  • Transaction processing including cash, automatic payments, direct debits, direct credits, bill payments, international payments, and same day cleared payments
  • Crown consolidated cash management process, and
  • Transactional banking exception services.

Non-core transactional banking services

This service covers:

  • Opening and maintaining transactional bank accounts (including domestic and foreign currency and term deposits)
  • Hierarchical sweep services
  • Over-the-counter cash processing
  • Bill payments and electronic payment processing, direct debit initiation, same day cleared payments
  • Set-off services
  • Interest optimisation services
  • Trust management services.

Foreign exchange services

This service covers:

  • International direct credits (ACH)
  • International payments
  • Telegraphic transfers and international money transfers
  • International drafts
  • Foreign currency cash.

Payment services

This service covers:

  • Merchant acquiring services for processing, authorisation and authentication of credit and scheme debit card transactions for card present and card not-present environments
  • Online payment gateway services
  • Cash processing (including over-the-counter services).

Card services

This service covers:

  • Issuing, processing and authorisation of physical and virtual cards. For example, credit cards, pre-paid cards
  • Transactive global platform services
  • Card management system services.

How it works

All eligible agencies including schools can access and buy card services, foreign exchange services, and payment services as detailed on the banking services providers page.

Banking services providers

Transactional banking services are offered under two separate sub-categories:

  • core Crown transactional banking services (provided by Westpac only), and
  • non-core transactional banking services.

Only core agencies subject to the Crown’s consolidated cash management process are eligible for core Crown transactional banking services. The separate sub-category of transactional banking services is available to non-core agencies.

Banking services list of core agencies

Features and benefits

The AoG banking services solution offers a range of services and benefits for eligible government agencies including:

  • Contracts that provide excellent value for money for all banking services sub-categories.
  • Flexible service and pricing models which enables participating agencies to continuously optimise their banking services.
  • A new separate sub-category of transactional banking services available to non-core agencies.
  • Innovative banking service solution with a framework to enable future innovation to deliver ongoing value to government, business and the New Zealand public.
  • Robust commercial contracts with transparent costs and terms and conditions providing a balanced legal risk profile for both participating agencies and providers.
  • Clearly defined, consistent service levels ensuring services are available, reliable and of high quality.
  • High quality support service through self-service portals and call centres.
  • Reduced procurement effort for government agencies to secure value for money for banking services.
  • Initiatives to support broader outcomes objectives.

Banking services broader outcomes

Savings and costs

Savings

Savings vary across sub-categories and will depend on an agency’s banking services purchasing profile and specific requirements.

Costs

Most AoG contracts include an administration fee. This fee is a simple, effective and transparent way of recovering the cost of developing, sourcing, implementing and managing AoG contracts.

The AoG banking services administration fee will be payable only by core agencies and collected through the core Crown transactional banking services contract. The Ministry of Business, Innovation and Employment (MBIE) will invoice the administration fee to core agencies annually in advance, with the fee payable by automatic payment in equal monthly instalments (unless otherwise agreed with MBIE).

If your agency is a core agency, more information will be provided directly to your agency.

Dates and renewal details

Start date:
Current term end date:
Contract Terms:
Four years + one right of renewal of up to two years. The right of renewal can be used for any one or more sub-categories of banking services.

Notice - Banking security review

All the banks on the AoG banking panel have been participating in a security review. The review looked at:

  • the security and integrity of the banks’ IT environments across the different AoG services
  • whether key security controls have been configured, implemented and are operating effectively within banks’ IT systems.

We expect service security certificates will be issued to each of the banks shortly.

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Joining AoG contracts

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Joining AoG contracts

​​Roles and responsibilities

Each participant in this contract has responsibilities that they must meet as part of that contract.

Roles and responsibilities

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