OPG SERVICES FOR THE NHS
OPG provides its full range of banking and account services to all NHS bodies - Strategic Health Authorities, Special Health Authorities, NHS Trusts and Primary Care Trusts - throughout the UK. OPG's team of Account Advisers are experienced in the specific banking needs of NHS bodies.
What we can do for you
OPG's banking and interest bearing deposit services offer flexible account structures, a comprehensive range of transaction services, including local collection and cash handling, supported by OPG's electronic banking system, together with investment services offering market related returns.
Many bodies are already familiar with our services. If you would like to know more about any of OPG's services please contact the Account Adviser team or e-mail us at opgservices@paymaster.co.uk.
New policy from the NHS
New financial guidance for NHS Trusts from 1 April 2000 followed from high level policy decisions changing the way investments are handled. From 1 April 2000 there has been an expectation that all NHS bodies will hold all their balances in OPG accounts or, for qualifying bodies, in the National Loans Fund Temporary Deposit Scheme, with no more than £50k in commercial accounts. A direction was issued by the Department of Health on 22 April 2002 to make this a mandatory requirement. This direction, however, does not apply to NHS Foundation Trusts.
Interest on NHS Trust balances with OPG, or in the NLF Temporary Deposit Scheme, will be paid by HM Treasury.
The benefits
We like to think that we can meet the banking needs of all NHS customers allowing you to make and receive the full range of payments. NHS Trusts and NHS Foundation Trusts can earn market related interest on all balances. Using OPG services means you can avoid the time and effort involved in maintaining more than one banking service provider and reconciling accounts. This allows you greater freedom to focus on your core financial management priorities.
Using the OPG service means you no longer need to hold minimum balances in a commercial account in order to secure agreed service levels, bank charges and investment returns. Also, your banking costs and investment returns become fully transparent.
The services we offer
- OPG is the public sector's own banking service - dedicated to providing a comprehensive and professional service to each of its public sector customers while ensuring public funds are used effectively to minimise the cost of government borrowing.
- Because we charge for our services and operate in a competitive market place we are totally focussed on our customers' needs but without treating them as profit opportunities.
- We have provided banking services for all NHS Trusts and Health Authorities for many years. We have an experienced team who understand your particular requirements and the financial environment in which you operate. Many NHS Trusts and Health Authorities already use OPG for the majority of their banking transactions.
- We offer a dedicated Account Adviser team who will guide you through the full range of services and ensure your needs are met - you will not be passed from pillar to post.
- Our local collection service and electronic banking system remove the need to have a bank on your doorstep - we give you the "bank on your desk".
- Value for money - we believe our services are competitively priced. Our tariff also gives you the scope to make savings by moving to electronic delivery e.g. internal transfers made using Masterline reduced by around three-quarters of the cost of paper transactions from 1 April 2000. Please talk to the Account Adviser team who will be able to give you further information.
To find out more follow the links at the foot of this page.
What some of our NHS customers say
Here is what some of our existing customers say about our services:
"As a Shared Financial Service for the NHS, we have held over sixteen accounts with OPG for many years. We have always found them to be highly professional but at the same time extremely helpful and approachable. We look forward to many more years of continued friendly and efficient service".
Berkshire Shared Services Finance
"OPG provide all our banking services, including local banking facilities and daily statement downloads. All our payments, including payroll, are paid via our OPG accounts. The staff are always helpful and pleasant. They are instantly accessible, either by email or telephone, to answer any queries. I would recommend them to any other NHS organisation".
Business Service Centre, South East Wales
