Scope
Reference
PROC/520
Description
Provision of banknote sorting services within Northern Ireland to sort Bank of England banknotes for authenticity and quality.
Contract 1
Supplier
Contract value
- £160,000 excluding VAT
- £200,000 including VAT
Below the relevant threshold
Earliest date the contract will be signed
12 December 2025
Contract dates (estimated)
- 1 January 2026 to 31 December 2028
- Possible extension to 31 December 2030
- 5 years
Description of possible extension:
Two 1-year options to extend
Main procurement category
Services
CPV classifications
- 66110000 - Banking services
Contract locations
- UKN - Northern Ireland
Contract 2
Supplier
Contract value
- £1,120,000 excluding VAT
- £1,400,000 including VAT
Above the relevant threshold
Earliest date the contract will be signed
12 December 2025
Contract dates (estimated)
- 15 December 2025 to 14 December 2028
- Possible extension to 14 December 2030
- 5 years
Description of possible extension:
Two 1-year options to extend
Main procurement category
Services
CPV classifications
- 66110000 - Banking services
Contract locations
- UKN - Northern Ireland
Contract 3
Supplier
Contract value
- £1,800,000 excluding VAT
- £2,250,000 including VAT
Above the relevant threshold
Earliest date the contract will be signed
12 December 2025
Contract dates (estimated)
- 15 December 2025 to 14 December 2028
- Possible extension to 14 December 2030
- 5 years
Description of possible extension:
Two 1-year options to extend
Main procurement category
Services
CPV classifications
- 66110000 - Banking services
Contract locations
- UKN - Northern Ireland
Contract 4
Supplier
Contract value
- £560,000 excluding VAT
- £700,000 including VAT
Above the relevant threshold
Earliest date the contract will be signed
12 December 2025
Contract dates (estimated)
- 15 December 2025 to 14 December 2028
- Possible extension to 14 December 2030
- 5 years
Description of possible extension:
Two 1-year options to extend
Main procurement category
Services
CPV classifications
- 66110000 - Banking services
Contract locations
- UKN - Northern Ireland
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Single supplier - technical reasons
Eligible suppliers must operate in Northern Ireland and possess highly specialised infrastructure, including secure vault storage, note sorting equipment, and robust security protocols; and have the financial capacity to hold large values of cash.
A change in supplier could introduce incompatible infrastructure, processes, and security protocols, which could undermine the integrity of the Northern Ireland Sorting Services framework.
Transitioning to a new supplier would require significant technical reconfiguration, including new security vetting and infrastructure audits. These changes would be disproportionate relative to the value and scope of the services and would risk operational disruption.
Suppliers
AIB Group (UK) Plc
- Companies House: NI018800
- Public Procurement Organisation Number: PZRQ-9134-NZRQ
92 Ann Street
Belfast
BT1 3HH
United Kingdom
Email: ftb.currencyservices@aib.ie
Website: http://aibni.co.uk
Region: UKN06 - Belfast
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 1
BANK OF IRELAND (UK) PLC
- Companies House: 07022885
- Public Procurement Organisation Number: PXGZ-4839-CHTQ
45 Gresham Street
London
EC2V 7EH
United Kingdom
Email: Lisa.Cauley@boi.com
Website: http://BankofIrelanduk.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 2
National Westminster Bank plc
- Companies House: 929027
- Public Procurement Organisation Number: PPNR-6678-ZNVV
250 Bishopsgate
London
EC2M 4AA
United Kingdom
Email: colin.lowen@natwest.com
Website: http://www.natwest.com
Region: UKI42 - Tower Hamlets
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 3
NORTHERN BANK LIMITED
- Companies House: R0000568
- Public Procurement Organisation Number: PPVD-3418-GLQD
Donegall Square West
Belfast
BT1 6JS
United Kingdom
Email: ukcashservices@danskebank.co.uk
Website: http://www.danskebank.co.uk
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 4
Contracting authority
BANK OF ENGLAND
- Companies House: RC000042
- Public Procurement Organisation Number: PRDB-1113-HPPT
Threadneedle Street
London
EC2R 8AH
United Kingdom
Region: UKI31 - Camden and City of London
Organisation type: Public authority - central government