Money Transmission Service for Government Banking

His Majesty's Revenue and Customs (HMRC) is the UK's tax, payments and customs authority and collects the money that pays for the UK's public services and gives financial support to people.

Government Banking sits within HMRC and is the banking shared service provider to Government and the wider public sector, providing banking services to over 650 organisations (hereafter referred to as "customers").

To deliver the direct-to-bank model and facilitate payments in and out of Government, Government Banking contracts with commercial banks. The current Money Transmission Service (MTS) contracts which facilitate this process are due to expire in March 2025.

The purpose of this PIN is to:

a) advise the banking industry that HMRC (on behalf of Government Banking) is considering undertaking a tendering exercise to award new contract(s) for the provision of MTS;

b) request information from the market on available services and invite feedback on several key themes which are of interest to Government Banking as it considers the potential new tendering exercise; and

c) invite potential providers to register for an upcoming market engagement exercise through HMRC's eSourcing system.