The new free service aims to resolve disputes between SMEs and their banks. We interview Chair of The Business Banking Resolution Service (BBRS), Lewis Shand Smith, to find out how the service could benefit you.
What is the BBRS?
The Business Banking Resolution Service (BBRS), is a new, independent organisation set up to resolve disputes between eligible small and medium sized businesses and participating banks. Our service is free and is available to both historic and contemporary cases. We can look at complaints dating back to 1 December 2001.
Who are the participating banks?
The participating banks are Barclays, Danske Bank, HSBC, Lloyds Banking Group (including Lloyds Banks and Bank of Scotland), RBS Group (including Royal Bank of Scotland, Natwest and Ulster Bank Northern Ireland), Santander UK plc and Virgin Money (including Clydesdale Bank and Yorkshire Bank). Once we are fully launched, we hope that other lenders will be inspired to join the BBRS too.
Who has helped to develop the scheme and how can businesses and stakeholders be sure it is truly independent?
The BBRS is independent of both the banks and the businesses for which it will seek to resolve disputes. Our
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