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Independent Banking Advisory Service

Updated on 24th March 2017 - Independent Banking Advisory Service (IBAS) - launched in 1992 as a specialist unincorporated business banking membership organization assisting bank customers with UK business banking account loan disputes and business banking debt disputes with their bank. Our analysis and investigation of business bank loans, bank accounts, banking contracts, business banking account facilities and banking debt recovery information has been instrumental in our member's success.

IBAS business banking dispute negotiating experience has a proven strategy which provides claims and defences for business bank customers. IBAS has excellent banking investigation reputation and has featured on BBC TV, BBC TV News, ITV, Meridian and Sky News and contributed to editorials and articles for the Sunday Times, Times, Daily Mail, Daily Express and Daily Mirror.

IBAS is now in it's 25th year helping/guiding those with UK Business Banking disputes and Director's Personal Guarantee business debt claims - IBAS is the only UK non profit organization which provides business banking customers with specialist business banking assistance and specialist business banking guidance and also IBAS specialist business banking investigations.

How did IBAS originate and why?

Many people ask how IBAS originated and why it was launched? Knowledge of IBAS history and motivation, allows those with a UK business banking disputes to examine why IBAS is so different from commercial business banking 'advisors' and why IBAS experience will best help them in a business banking dispute, director's personal guarantee or business banking debt claim. So, what exactly is IBAS?

The Independent Banking Advisory Service (IBAS) was founded by the original co-founders of the Bank Action Group (BAG) which was founded after a Daily Express article (July 1992) which published how and why UK businesses were being exploited by UK bankers. The Daily Express article encouraged those in businesses with similar banking situations to phone in to the Daily Express because they wanted to know who could help them?

Niki Chesworth interviewed Eddy and Brenda Weatherill for the two page Daily Express 'spread' and she asked them: 'had they thought about creating a banking ‘help group'? Within hours the Bank Action Group (BAG) was named by Eddy and Brenda Weatherill and 'launched' in another Daily Express article. Many BAG articles followed. All were highlighting business banking and focusing interest on a few business banking dispute 'cases'.

There was difficulty at that time in clearly establishing whether businesses had fallen or been deliberately ‘tripped’ by their business banker. However, it was clear from the information gathered that a business could be in the wrong place at the wrong time and with the wrong bank. Business type, location and their business banker played a large part in which business survived and which did not.

From information which 'flooded’ into BAG, some banks were a lot quicker ‘leaning’ on businesses or in overcharging interest than others. Many underhand banking tactics were used by banks in bank debt recovery units, enlarging bank profits whilst 'taking' small business assets. BAG raised awareness to business banking dispute issues.

But, in publicizing issues BAG became much more political and volunteers can only stretch so far. Politics is extremely demanding on all resources. Meetings took even more time and even more money. BAG ‘lost its way' and became less active in directly helping businesses.

The realization that BAG had become less active in directly helping businesses seeking urgent assistance and because it was those businesses which were the major reason for BAG being founded led to Eddy & Brenda Weatherill launching IBAS - so that businesses could be helped and rescued from bank debt recovery units where possible.

The media assistance provided for IBAS to publicize investigated banking issues allowed IBAS to increase pressure on banks, bank shareholders, M.P's and Government Ministers. Who then applied pressure to make changes to law and regulation. IBAS state that the UK Banking industry lost it's reputation for integrity and honesty due to the deluge of adverse publicity since 2007 which 'forced' the voluntary codes for ‘fair and reasonable’ conduct 'out of existence' and banker's 'self regulation' was replaced by the FSA's Banking Conduct Regime on 1st November 2009. The Financial Conduct Authority (FCA) then replaced the FSA as regulator for the banking industry.

IBAS is an active pressure group and that fact is not hidden, nor do IBAS apologize for making a difference in influencing bankers, bank shareholders, MP's and banking regulators. Banking is an industry where nothing would change without pressure to do so. Bankers have proved this many times over by complete resistance to everything affecting them and profit.

IBAS has been guest/interviewee on TV 'shows' since 1992, these have included: Kilroy – 'Do You Trust Your Bank?', BBC1 - The Really Useful Show, BBC First Sight – 'Bank on Us', BBC News - 'Hard Cash', BBC TV - 'Good Morning with Anne & Nick' & others including TV News, UK radio interviews, the Jimmy Young Show, Radio 5 Live, BBC Radio 3 Counties, Talk Radio with Paul Ross and many others.

UK Media trust IBAS integrity and media contacts rely on banking cases supported by IBAS being properly documented and investigated. Because of that knowledge and certainty, the media seek IBAS comments and editorial content to include within their own national publications and broadcasts. IBAS knowledge since 1992 of bank debt claims from thousands of business banking customers/business accounts plus knowledge gained from IBAS 'in house' bank audits over the past decade means IBAS can identify bank 'overcharges' in trading business accounts as well as in bank debt recovery claims, where personal assets and homes may be at risk from a bank. That extra knowledge is only available to IBAS and is provided to those who gain IBAS assistance. IBAS provides specialist knowledge and experience gained from a great many Base rate/LIBOR/Euro loans and business current accounts bank interest overcharging cases which provides active assistance to UK business banking customers embroiled in banking disputes or in a director's personal guarantee debt claim.

IBAS state: Overcharging appears in a great many many business current account and loan situations and also in business banking debt claims and claims on personal guarantees or mortgages. Director's Personal Guarantee debt claims can be used by the bank to hide such overcharges by passing bank overcharges on to the guarantor after the business failure. IBAS 'in house' checks will 'flag' cases which are 'suspect' for bank overcharging and IBAS can then verify, evidence and 'set off' overcharges for a counter claim or defence, debt negotiation or resolution.

Between 1992 and 2001, IBAS used many legal practices and more than 40 individual solicitors and barristers who were 'briefed' for legal actions for IBAS members. IBAS experience in litigation and solicitor/barrister involvement in banking litigation 'cases' is considerable. But, IBAS warn that litigation is completely unpredictable, expensive and results may be uncertain. That is why 'cases' accepted by IBAS are assessed 'in house' for 'legality' under IBAS membership and legal fees may be immediately avoided in the majority of cases.

What will IBAS actually do?

  1. IBAS will independently investigate business banking disputes and director's personal guarantees and business banking debt claims.

  2. Any 'case' accepted by IBAS will be assessed 'in house' for 'legality' under membership, which means legal fees are immediately avoided in the majority of cases.

  3. IBAS will provide individual assistance in cases considered worthy of investigation.

    Note: IBAS provide editorial content for national TV and national newspapers but IBAS will not publicize any member's 'case' information without specific written consent and only then when IBAS has investigated the 'legality' of that specific case.

Publicity is a 'tool' which from experience IBAS state can only be used where a member is in total agreement but also requires solid evidence to support it. But, IBAS also warn that publicity is not acceptable for many and is not a 'tool' for everyone.

IBAS is completely unique in the services that it provides to members as a National non-profit making, membership organization, specializing in business banking disputes and in resolution and negotiation of business banking debt disputes.

03/2017