The Business Banking Resolution Service (BBRS) launched earlier this year – what does it offer businesses in the hospitality sector?
The BBRS helps medium sized businesses find solutions to unresolved complaints against their bank, providing personalised support from highly skilled and experienced dispute resolution specialists. There are around 40,000 current and former businesses in the hospitality and tourism sectors who may be able to benefit from the service.
How does it work?
The BBRS is a non-profit, independent organisation that provides a high-quality dispute resolution service, free-of-charge. Our expert team uses a range of proven approaches to help the business and the bank reach a fair and reasonable outcome. The service is led and overseen by our Chief Adjudicator, Alexandra Marks, who is also a lawyer, judge and accredited mediator.
What type of complaints can the BBRS help with?
We may be able to help if you have an unresolved complaint against your bank and are, or were, a Director, significant shareholder, partner or board member of a medium sized business. We may also be able to help if you were a personal guarantor.
The complaint must have been made to your bank from December 2001 onwards and at the time of the complaint the business needs to have had a turnover of:
2001 – 2009: between £1m and £6.5m
2009 – 2019: between €2m and £6.5m
2019 onwards: between £6.5m and £10m
Do I need legal representation to use the service?
No, the BBRS has been designed to be as simple to use as possible. Once your claim is registered and initial checks complete, your assigned Customer Champion will contact you directly. They will support you throughout your time with the BBRS, telling you which documents are needed, how we are getting on, and what your options are at different stages. They will also talk you through the outcome of your case and possible next steps.
I have a historical complaint but no longer own my hospitality business – can I still use the BBRS?
Yes, former business owners with banking complaints dating back to 2001 are encouraged to check the criteria online and register with us.
How do I register for the BBRS?
See if the BRRS can help you by visiting our website www.thebbrs.org/register. If you’re not sure that you qualify, please get in touch. You may be covered by our Concessionary Scheme.