Rent and bill payment cards

Supplier

The Co-operative Bank

Contract period

October 2007 - September 2010

The agreement is set to run for the duration of three years, with an additional twelve months extension for satisfactory performance.
 

Summary and benefits

PfH's Rent and Bill Payment Card Agreement with The Co-operative Bank not only creates significant savings but also addresses the key issue of cost transparency.

The Co-operative Bank submitted an outstanding offer through the EU compliant tender process and was the only major supplier to offer totally transparent fixed pricing - an essential factor in developing robust and sustainable policies for PfH Members. After a rigorous benchmarking exercise, the Agreement also demonstrated average savings of over 12%.

With The Co-operative Bank handling all the transactions, PfH's Members can now collect rent, and other payments from their residents who do not have bank accounts, or who prefer to pay by cash. Residents can choose to pay their bills either at the Post Office or through the PayPoint network in various retail establishments including Co-operative stores, garages and other high street locations.

Not only does the Agreement benefit PfH Members by offering fixed transaction pricing, payment transaction limits and clearance timescales, it also gives residents access to over 32,000 Post Office and PayPoint outlets. The methods of payment available through the system are extremely flexible and convenient - residents can pay bills at any time of day or night from any shop with a PayPoint facility.

Key benefits of the Rent and Bill Payment Cards agreement

Transaction fee
Fixed
Held for 18 months

Maximum transaction value
£999.99 at Post Office
£200 at Paypoint

Transaction period
Three days

Payment process
Credited directly to Members account

Payment information
Free file concatenation
Free outlet tracking for Post Office and Paypoint

Access to networks
Access to Post Office and Paypoint

Sustainability
Transparent and ethical processes

Members can view more information on this agreement by logging in.

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