August 13th, 2020.
Business Banking Resolution Service (BBRS) will open its doors to complaints from unhappy business banking customers from mid-November.The dispute resolution service will adjudicate in arguments between banks and unhappy SME borrowers and means that businesses do not have to resort to expensive and risky litigation.
However, the Business Banking Resolution Service will only be open to larger SMEs with turnover in excess of £6.5m a year and with assets of £7.5m on their books.
Microbusiness complaints will continue to be handled by the Financial Ombudsman Service (FOS), particularly any disputes over bounce back loans.
For the full story at smallbusiness.co.uk CLICK HERE.