DWP seeks Sponsor Bank for benefit payment contingency settlement.
The Department for Work and Pensions (DWP) intends to procure a Sponsor Bank service (Lot 2) as part of its Payment Contingency Services (PCS) to ensure benefit and pension payments can be made in exceptional circumstances when Bacs payment files are delayed. The Sponsor Bank service is required for settlement of funds with the Bank of England. This is a separate procurement from the Short Term Payment Contingency (STPC) service (Lot 1). The procurement will follow a two-stage Competitive Flexible Procedure under the Procurement Act 2023. Interested suppliers must register on the Central Digital Platform (CDP) and the DWP's Atamis portal. The contract value is not disclosed, but given the critical nature and banking requirements, it is likely significant.