HSBC joins Barclays on council bank roster

BARCLAYS has been joined by HSBC in providing banking services to Liverpool City Council after the contract was put out to tender.

In a document prepared ahead of a cabinet meeting, the council said it had split the work into two lots, with Barclays being retained for everyday income and expenditure and HSBC being appointed to look after the processing of credit and debit cards.

The council did not reveal the value of the contracts but under procurement rules anything with a value of more than £500,000 must be put out to tender.

The contracts are estimated to make net savings of £312,800, according to the document.

The existing arrangement with Barclays expire at the end of the month.