Banking and Bill Payment Services

⁠⁠⁠INTRODUCTION

Council requires banking services to facilitate approx. $90m of income and expenses annually.

The range of banking services are detailed in the specifications and include:

• Bank accounts
• Bill payments
• Electronic banking services (including cheques)
• Electronic banking platforms
• Corporate credit cards

Consideration will also be given to relationship management, community engagement and ESG.

BACKGROUND

Council issues approximately 32,000 rate notices which are usually forwarded to residents in July/August each year. The Current Full Rating Year is 1 July 2025- 30 June 2026.

Provision is made for the payment of rates by four quarterly instalments. A ratepayer may elect to utilise this method by paying the first quarterly amount shown on the annual rate notice on or before 3 September each year. Thereafter, a single reminder notice comprising three payment slips with due dates and amounts for the remaining three quarterly instalments is forwarded in October each year.

Approximately 80% of ratepayers currently choose to utilise the quarterly instalment option, with the remainder paying the full amount at the first instalment date or utilising direct debit for more regular payments. The estimated number of rate payments per annum across all frequencies and channels, is in the vicinity of 135,000 transactions.