Banking services
Learn about the all-of-government banking services contract, which covers payment services, card services and foreign exchange.
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- Benefits of joining this contract
- How to join the contract
- Key considerations for banking services
- More information
Benefits of joining this contract
Joining an all-of-government contract is likely to save your school both time and money, while also reducing risk.
Your school may already be using banking services with a bank part of the all-of-government (AoG) contract.
If so, you would still stand to gain if you choose to switch your current standard contract to the AoG banking services contract (with the same bank).
The AoG banking services contract offers the following benefits to schools:
- better value for banking services than what is available to the public
- transparent contract terms and costs (so you are fully informed)
- flexible service models – you can tailor your banking services to meet your needs
- you can request any one or combination of:
- payment services (such as the ability to accept card payments as a merchant)
- card services (such as the provision of school credit cards)
- foreign exchange services (such as international transfers).
How to join the contract
The process for joining the banking services contract is similar to that for other AoG contracts:
- Complete a non-disclosure agreement
- Read about the contract and the memorandum of understanding
- Complete a joining form
- Define your requirements
- Compare suppliers
- Engage with suppliers
- Complete services order(s)
- Delivery of banking services
1. Complete a non-disclosure agreement
What is a non-disclosure agreement?
If your school has not signed up to an AoG contract before, you will need to complete a non-disclosure agreement (NDA) available on the NZ Government Procurement (NZGP) website.
Non-disclosure agreement form – NZGP(external link)
You can email school.buying@education.govt.nz to find out if your school has already completed an NDA.
2. Read about the contract and the memorandum of understanding
What is a memorandum of understanding?
Log in to the NZGP website to access more information on the contract. You will need to use your school-linked RealMe account because you will have access to commercially sensitive information.
Banking services – NZGP(external link)
The memorandum of understanding (MoU) is in the 'contract documents' section of the banking services page. The MoU sets out the obligations of schools participating in the contract.
3. Complete a joining form
The joining form confirms your school agrees to the terms set out in the MoU.
An online joining form for this contract is available in the 'contract documents' section of the NZGP webpage (you will need to be logged in with a school-linked RealMe account).
Banking services - NZGP(external link)
- Your school may choose to submit a 'letter of accession' (printable PDF) instead of the online joining form.
- You can download a copy of the PDF from the 'contract documents' section on the NZGP webpage.
- Once completed, email the form to banking.coe@mbie.govt.nz.
When the joining form is processed, you will receive a confirmation email.
4. Define your requirements
Which banking services do you currently use?
- Does your school sell items either on site or online?
- Do staff buy things on the school’s behalf using a school bank card?
- Does your school make international payments (perhaps associated with international students)?
- Do you want/expect to do any of the above in the future?
See the categories of services that can be supplied under the contract.
Choose which service categories you require – this could be 1, 2, or all 4 categories.
5. Compare suppliers
Your school can purchase banking services from any or all the suppliers, depending which service categories you require.
Summary of suppliers and services
You can also find and compare each supplier’s profile, rate card and service agreement, which can be accessed through the page below (you will need to be logged in with a school-linked RealMe account).
Banking services providers | New Zealand Government Procurement(external link)
Suppliers might offer special bundled pricing if you choose them for more than 1 service category. This will be stated in their service agreement.
6. Engage with suppliers
Contact your shortlisted suppliers or preferred supplier using the contact details on the NZGP webpage (you will need to be logged in with a school-linked RealMe account).
Banking services providers | New Zealand Government Procurement(external link)
Discuss what they are offering and what your responsibilities would be under the AoG contract.
7. Complete services orders
When your school has selected a supplier for a service category, you will need to send the supplier a completed services order for that category.
Services order templates for each supplier are available on the New Zealand Procurement webpage (you will need to be logged in with a school-linked ReadMe account).
Banking services providers | New Zealand Government Procurement(external link)
8. Delivery of banking services
Supplier(s) will support you with the transition to their service.
Your school can begin banking with your chosen supplier(s).
Key considerations for banking services
Categories of services
The AoG banking contract covers 5 service categories, though Crown transactional banking services is not available for schools use.
Schools may want to sign on to receive any 1 or combination of the remaining 4 service categories.
- Payment services.
- Card services.
- Foreign exchange services.
- Transactional bank services for non-core government agencies.
- Crown transactional banking services (not available to schools).
1. Payment services
- Merchant facilities for accepting Visa, MasterCard and UnionPay credit and debit card payments.
- A gateway for accepting online payments
- Over-the-counter bill paying services
- Remittance processing.
2. Card services
Card facility, including:
- credit cards
- stored value cards
- travel cards
- virtual cards.
An expense management system (EMS).
3. Foreign exchange services
- International direct credits.
- Telegraphic transfers/international money transfers.
- International drafts.
- Foreign currency cash.
4. Transactional bank services for non-core government agencies
- Opening and maintaining transactional bank accounts.
- Over-the-counter cash processing.
- Bill payments and electronic payment processing, direct debit initiation, same day cleared payments.
Contact banking.coe@mbie.govt.nz for further information about the services offered.
Summary of suppliers and services
ASB
- Payment services
- Card services
Westpac
- Foreign exchange services
- Payment services
- Card services
- Transactional bank services for non-core government agencies
ANZ
- Foreign exchange services
- Payment services
- Card services
- Transactional bank services for non-core government agencies
Citibank
- Foreign exchange services
- Payment services
- Card services
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