The Financial Ombudsman Service will not currently consider complaints which relate mainly to invoice-finance agreements with business customers. (If you have such an agreement it will be called a 'business invoice finance agreement').
However, depending on the nature and size of the complainant and a number of other factors, the service might consider a complaint which relates mainly to wider regulated financial services but which also has an invoice-finance element.
If your complaint is about a Danske Bank invoice-finance facility and:
- you are not satisfied with our final response; or
- we have sent you a 'deadlock' letter;
you may be eligible to have the matter considered through the independent ABFA complaints process. ABFA is the Asset Based Finance Association.
Eligible complaints must meet the following conditions:
- The complaint must relate to factoring, invoice discounting, asset-based lending or proposed lending.
- You must refer the case to ABFA within six months of the date on our final response or deadlock letter.
- The turnover of your business, or the business you are a guarantor for, must not be more than £6.5million (€7.5million) a year (according to the last audited accounts).
- The action or actions relating to your complaint must have taken place on or after 1 July 2013.
- You must not be seeking a financial award of more than £25,000 (€29,000) in connection with the dispute. This is the maximum award that can be made under this process.
You should send your complaint to:
Asset Based Finance Association
20 Hill Rise
ABFA will log the complaint and immediately pass it to The Ombudsman Service Limited, which is a specialist dispute-resolution organisation and is a member of The Ombudsman Association.