About Government Banking Service

Our vision

To become the provider of choice for banking services to the public sector.

Our purpose

  • minimise cash held outside the Exchequer, thus reducing the Government’s overall borrowing needs
  • to provide a cost effective banking service for Government customers

Our objectives

  • to deliver robust Treasury reporting and management of daily cash sweeps
  • to provide a customer focused, best price banking service for Government customers
  • to use the scale of the Government’s payments business to ensure its needs are reflected in the industry’s national Payment Strategy and other Government initiatives

Our banking partners

The Government Banking Service provides cost-effective banking transaction services to its customers through contracts with Citigroup and Royal Bank of Scotland Group

Our customers make payments and collect receipts through their respective Citigroup and RBSG accounts.

All significant customer balances continue to reside at the Bank of England and they are held safely and securely within the 'Exchequer Pyramid'. Making these balances available to the National Loans Fund at the Bank of England each night helps to reduce the government’s borrowing costs.

Contact us

For any general questions relating to Government Banking Service please contact: Helpdesk - Tel: 020 8929 2794

Email Government Banking Service