Those with older unresolved complaints are particularly encouraged to apply before the 14th February 2023 deadline for historical complaint applications.

The free and independent dispute resolution service is open to companies — such as architects, estate agents, landlords and construction firms — with unresolved complaints against their bank.

Eligible businesses need to be, or were, SMEs or sole traders, charities, trusts and others.

The BBRS has two schemes — a historical one looking at cases dating back to 2001, and a contemporary one for complaints that have arisen on or after 1st April 2019. 

Depending on the date the complaint was first logged with the bank, 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

The process is overseen by chief adjudicator and deputy High Court judge Alexandra Marks, and aims to resolve disputes based on what is fair and reasonable for each case.

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Those interested are urged to check their eligibility on the BBRS’s registration page. 

Businesses going through the service will be assigned a highly skilled dispute resolution specialist who will act as a single point of contact and offer practical support.

It is estimated that, over the past 20 years, some 600,000 businesses could have developed a dispute with their business banking provider that remains unresolved.

“We want as many businesses as possible in the property and construction sector — and directors of those no longer operating — to have the opportunity to use the BBRS’s service,” said Alexandra.

“We encourage those with unresolved disputes to seek our help to achieve a fair resolution. 

“We urge them to see if they qualify for our help and, if so, to register as soon as possible; if unsure, businesses can check online or contact us to find out more.”  

Mark Hayward, chief policy adviser at Propertymark, commented: “Transparency across the property sector is vital for best practice, and therefore I welcome the approach being taken by the BBRS to support SMEs who are in need of support with a banking resolution. 

“With the number of prospective tenants and the number of properties selling above the asking price both breaking records last month, agents are busier than ever and have little time to spend dealing with ongoing banking issues, which the BBRS can support with. 

“Tackling any ongoing disputes head on can only be a positive step for the sector, and I urge any agents with ongoing issues with their banking provider to register with the BBRS’s service.”