Small and medium sized enterprises (SMEs) are urged to register their business banking complaint with the Business Banking Resolution Service (BBRS), which is set to close to new registrations at midnight on 13 December 2024. After this date, SMEs will be unable to register any complaints with the BBRS and businesses could lose out on resolutions and redress payments.
To submit a complaint, to the BBRS’ Contemporary Scheme, SMEs must have a turnover of less than £10 million, a balance sheet of less than £7.5 million and not be eligible for the Financial Ombudsman Service. Complaints must relate to incidents that took place on or after 1 April 2019 that have not already been subject to an independent review or settled.
Registering a complaint at the BBRS is free. The BBRS is an independent, industry funded, dispute resolution service for SME customers of Barclays Bank, Danske Bank, HSBC UK, Lloyds Banking Group, NatWest Group, Santander and Virgin Money.
For further information please select the following link: Business Banking Resolution Service