The Business Banking Resolution Service (BBRS) is calling on professional services businesses to see if they can help clients access support for a free and independent dispute resolution service.
- Businesses with historical banking disputes could be awarded compensation up to £350,000 if they apply before 14 Feb 2023.
- Businesses should check now if the BBRS can help, using this online tool.
- Businesses could benefit from free and impartial alternative dispute resolution.
- Customers with recent complaints can still register through the contemporary scheme.
SMEs with long-standing banking complaints must register their case with the BBRS before the historical scheme closes on 14 February 2023.
The BBRS’s historical scheme covers banking complaints first registered in the period from 1 December 2001 to 31 March 2019. Businesses may qualify for support if they had turnover between £1m and £6.5m per annum at the time of their complaint, and their case has not already been settled, been subject to an independent review, or gone to court. This includes businesses which have since closed, merged or been sold.
