HSBC Bounce back loan

LockdownUK

Good evening. I’m pleased to report that the funds were deposited this evening. No sign of the DD being setup in advance. I called the bank twice today, though, to stress that I had been approved a week ago and hadn’t received the funds. They told me they would escalate this to the “investigations team” and it really worked. Don’t lose hope and try that if you still haven’t got it. 

mattyprice4004

SteveCat said:

Just a quick heads up for anyone who is still waiting to hear from HSBC. I have this morning noticed all over Google adverts for ADOBE Docusign. Very strange as I had not searched for it at all! I then check my Bank and have noticed a Direct Debit for HSBC Loan set up. Within the hour I then received my acceptance and offer via email from HSBC. Look out for all these signs as this is no coincidence.

That's purely because the Echosign is carried out on Adobe's website, so advertising providers think you've visited their site weighing up their services.  

S1rEean

S1rEean said:

I applied on the 13th but didnt get a email and after hearing on here that it was 50/50 as to some got a email after applying, I decided to reapply on the 14th and got a email with a ID number, today I got a the esign form for the first application and sent it back little while ago. So keep in there and even if you didn't get a email after applying it still happens

Also I am a sole trader and applied on the basis of using my personal HSBC account.

Noticed the DD yesterday and without any other emails etc, woke up to the money in my account this morning, seems everyone has a different time scale from when they applied, to receiving different emails to the DD appearing or not. But slowly the money arrives so hang in there folks 🙂

Danrover82

Been on phone to 3 different departments today. All refusing to offer any news.

Some say that I should get a acceptance letter before the esign. One department said the email was the reference email.

One department said its all chronological order for acceptance but some require more checks as they have to be a responsible lender. 

One guy had no intention of updating me until I requsted he looked into my personal account  that I use for business like a college was going to before I was cut off.    Now he is and asked if I submitted a tax return info and also said he needs to check one more detail.


I find myself getting wound up on phone. As I have to decide, I either stay off work and claim UC or gamble and work but hope the contracts pay me in a timely manner. 

Can't handle the stress anymore 

S1rEean

@Danrover82

First time I didnt get the email, read on here ppl did so I reapplied & got email confirmation right away but the amounts I put were different, so I know the money I got was from the first application with No email, just need to wait it out as best you can,

My process was about just over a week.

Apply > email confirmation** 50/50 maybe reapply > esign docs > DD setup > money in bank.

Weezypops2

I applied on the first day of the scheme being active and have just got an email to say it's been accepted, with the documents to sign. Hoping it won't be too much longer to get the funds.

Danrover82

Appreciated that,   got a right clown on phone when I wrote the last post, saying I need a feeder account or business account,  more checks need to be done as its a loan,  ie credit score (I wouldn't pass for sure) he wouldn't give any help at all or show signs of wanting to.   It got heated and I said I wanted to complain.

Called back, spoke to a lovely lady who said its just waiting for the esign now but can't say when.  My personal account for business should be ok for the feeder.

Who knows anymore 🤷‍♂️

PrudentPeter

For all those experiencing delays. HSBC have seen huge demand, being the only incumbent bank offering the product to new customers. As such, the time frame will depend on whether you are an existing (few days) or new customer (At least a week, potentially longer). This product has a huge risk of fraud attached to it. HSBC will have to satisfy the Know your Business/Know you customer regulations, before allowing funds to be drawn down.

Danrover82

But they can see £22864 in turnover in 6months  so credit checks needed etc? 

AJLB1

I applied for £50k first day, 4th May. We are existing HSBC Business Banking account holder and I'm registered with HSBC for online banking with the account.  Application straightforward with online signature at the end. Included my business email address and mobile. No acknowledgement by email or text. 7th May our MD (registered account holder) received email from Jade Nicol at echosign with copy of confirmation agreement (dated 7th May) confirming loan approved. Bank account and sort code correct in loan agreement and direct debit mandate. Document was signed and returned 13th May. Document shows 5 step history with document created, emailed and viewed 7th May, signed and emailed back on 13th May. So far no funds received. Has anyone received money from HSBC BBL?