Growing businesses urged to register banking disputes

fb7c74e3-7440-4fc6-82e9-0eef4792709b

Latest Posts
Industry Updates
Agritech conference launched
03 February 2023
Industry Updates
Growers' machinery auctioned off
03 February 2023
News
Global production down 6%
31 January 2023
Industry Updates
Why Farming Matters
31 January 2023
23 February 2022
|
Deadline approaching to seek support

THE Business Banking Resolution Service (BBRS), an independent and free dispute resolution service, is appealing directly to growers to see if their unresolved banking disputes can be tackled.  

 

The BBRS resolves disputes based on what is fair and reasonable for each case. Businesses going through the service will be assigned a dispute resolution specialist, who will act as a single point of contact and offer practical support. The BBRS can make both financial and non-financial awards when a complaint is upheld.   

 

The BBRS’ Historical Scheme covers banking complaints first registered in the period from December 1st 2001 to March 31st 2019. Growing and other businesses in the potato sector may qualify for support if they had turnover between £1 million and £6.5 million 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.

The BBRS can also assess more recent unresolved complaints through its Contemporary Scheme, which covers cases for the period from 1 April 2019 onward. It is for businesses with turnover up to £10m per annum; and total assets up to £7.5m; and which are not eligible to take their complaint to the Financial Ombudsman Service.

Content continues after advertisements

Businesses with outstanding historical banking disputes are urged to see if they can apply for support using a quick online tool as the deadline for historical complaint applications is just one year away, closing on 14 February 2023. Professional services businesses are also encouraged to see if their clients could be eligible for the BBRS.

 

Paul Scully MP, Minister for Small Business, Consumers and Labour Markets, said: “It is important that businesses who have unresolved disputes with their bank check to see if they can receive BBRS support. Services like the BBRS play a vital role in ensuring SME and their owners, past and present, can access expert advice. The BBRS supports business to address unresolved banking complaints. This service is vital to the UK economy as we bounce back from this pandemic and look to the future.”  

 

Dirk Paterson, Customer Director at the BBRS said: “We want as many businesses as possible to have the opportunity to use the BBRS’ service. This includes businesses, trusts, charities, friendly societies, and co-operative societies. It includes directors of businesses no longer operating. We urge them to see if they qualify for our help and, if so, to register. If they’re unsure, businesses can check online or contact us to find out more.”  

 

Agriculture and farming sector businesses can check and register online at: www.thebbrs.org.uk/register 

 

World Bank identifies UK as beacon for the world in combatting climate change ahead of COP26
Grower guidance on financial and environmental sustainability
UK growers can benefit from green loans