Thousands of charities could be eligible for hundreds of thousands of pounds in awards related to unresolved banking disputes.
A not-for-profit dispute facility, the Business Banking Resolution Service, estimates about 6,000 UK charities could be eligible for help.
The BBRS was set up to resolve disputes between small to medium enterprises including businesses, charities and trusts.
It was established in response to the commitments made by the banking and finance industry following the 2018 Simon Walker Review.
The review identified the need for an independent service to resolve eligible historical and current business banking complaints that are typically outside the Financial Ombudsman Service’s jurisdiction.
Charities, trusts and other organisations with a turnover of £1m plus over the past 20 years that have unresolved banking complaints, including their directors and board members, could qualify for BBRS’ support, even if they are no longer operating.
If a complaint is upheld, it can make a financial award of up to £350,000 for historical cases and £600,000 for contemporary cases.
The process is overseen by a deputy High Court judge and organisations going through the service will be assigned a dispute resolution specialist who will offer practical support.
Dirk Paterson, customer director at the BBRS, said: “We want as many charities and social enterprises as possible - and directors of those no longer operating - to have the opportunity to use the BBRS’ service.
“We urge them to see if they qualify for our help and, if so, to register. If unsure, businesses can check online or contact us to discuss their situation.”
The deadline for historical complaint applications is 14 February 2023.
For more information and eligibility criteria click here.