HSBC Bounce back loan

Princess20181

Kempton1 said:

I am a HSBC Business Customer. I applied 13.5.2020, Echo documents arrived 15.5.2020 -  I have not signed these as I submitted another application on the 14.5.2020 as I changed my mind about the loan value. Original application was cancelled via telephone with HSBC.  However even though I have received a confirmation email for the second application, I have heard nothing since which is annoying as the first application came through within days. Spoke to HSBC on numerous occasions, which was unhelpful. This is really frustrating and I don't want to waste my time speaking with HSBC again as they have no updates to offer.

It's an absolute joke and am. Moving my business and personal account from them applied on the 4th got echo sign on the 7th but didn't sign it and told to reapply for the amount I want it was cancelled and I reapplied on the 5th not a word since but I keep getting echo sign reminder for the first one. Its been escalated so many times but not a word or a call back am fed up with them and if I get the loan somewhere else they will lose my busines 

Kempton1

Princess20181 said:

Kempton1 said:

I am a HSBC Business Customer. I applied 13.5.2020, Echo documents arrived 15.5.2020 -  I have not signed these as I submitted another application on the 14.5.2020 as I changed my mind about the loan value. Original application was cancelled via telephone with HSBC.  However even though I have received a confirmation email for the second application, I have heard nothing since which is annoying as the first application came through within days. Spoke to HSBC on numerous occasions, which was unhelpful. This is really frustrating and I don't want to waste my time speaking with HSBC again as they have no updates to offer.

It's an absolute joke and am. Moving my business and personal account from them applied on the 4th got echo sign on the 7th but didn't sign it and told to reapply for the amount I want it was cancelled and I reapplied on the 5th not a word since but I keep getting echo sign reminder for the first one. Its been escalated so many times but not a word or a call back am fed up with them and if I get the loan somewhere else they will lose my busines 

Terrible service and no logical reason why some applications are being processed quicker. Also annoying that when you try and find out what is happening HSBC have no idea...surely the application could be traced with the ID which is sent via email. I am so disappointed with HSBC and likewise am considering moving my account elsewhere. 

paulw1980

Hi we applied for the bounce back loan on the 7th may just had an email today 26th that because we only have a personal account not a business account it's been declined I wish they said this at the start now have to wait to get a feeder account then I need to reapply for the bounce back loan it's been such a struggle to get this far I'm so stressed about this 

sean_jackson

Hi, i applied on the 12/05, got the instant email back to sign, nothing since, been on the phone a week ago and again today to no avail. It would just be nice if someone could confirm my application is ok. It was made with my First Direct personal account which i understand was ok to do reading the small print (somewhere). To be turned around again when your weeks in would be really dis-spiriting at this stage. Just got to dumb down and shut up is the overiding feeling you get from them unfortunately. As i understood it on my 1st call 10 days ago there were in excess of 68k applicants, probably more now. :-(

gt94sss2

Princess20181 said:

Kempton1 said:

I am a HSBC Business Customer. I applied 13.5.2020, Echo documents arrived 15.5.2020 -  I have not signed these as I submitted another application on the 14.5.2020 as I changed my mind about the loan value. Original application was cancelled via telephone with HSBC.  However even though I have received a confirmation email for the second application, I have heard nothing since which is annoying as the first application came through within days. Spoke to HSBC on numerous occasions, which was unhelpful. This is really frustrating and I don't want to waste my time speaking with HSBC again as they have no updates to offer.

It's an absolute joke and am. Moving my business and personal account from them applied on the 4th got echo sign on the 7th but didn't sign it and told to reapply for the amount I want it was cancelled and I reapplied on the 5th not a word since but I keep getting echo sign reminder for the first one. Its been escalated so many times but not a word or a call back am fed up with them and if I get the loan somewhere else they will lose my busines 

With respect, HSBC (and other banks) have had to introduce new systems and processes at very short notice while being understaffed due to Covid.
All the banks have then been swamped with applications. You can't expect normal levels of service under these circumstances.
From this board, it's clear that they are all having issues and several have even stopped new customers signing up for accounts as a result.
I'm sure its not been helped by them receiving lots of calls etc from those (understandably) wanting updates about their own applications, making mistakes/errors when applying or using personal accounts for business purposes which is against most banks T&C

stu2003

paulw1980 said:

Hi we applied for the bounce back loan on the 7th may just had an email today 26th that because we only have a personal account not a business account it's been declined I wish they said this at the start now have to wait to get a feeder account then I need to reapply for the bounce back loan it's been such a struggle to get this far I'm so stressed about this 

Hi, i have also applied with a personal account (that i do my business banking through) but i didn't think that mattered with HSBC? But at least they have told you why they have declined you as a lot of poeple don't know

xjojox1990

Hello, we applied originally on the 4th May, received an Echosign document on the 13th of May which contained the 000 at the front of the account number, was then sent another echo sign document on the 22nd of May. After continuous phone calls / escalating today I had hope as logged on and showing is the BBL account with an available balance (the amount we applied for) but the balance is £0.00 and cannot withdraw/ transfer!! Called HSBC back up and loan hasn’t been signed off! Has anyone else had this problem and received funds OK after ? They told me they still have no time frame despite waiting over 3 weeks now. Our business account and current accounts are both with HSBC. TIA 

MTK302

xjojox1990 said:

Hello, we applied originally on the 4th May, received an Echosign document on the 13th of May which contained the 000 at the front of the account number, was then sent another echo sign document on the 22nd of May. After continuous phone calls / escalating today I had hope as logged on and showing is the BBL account with an available balance (the amount we applied for) but the balance is £0.00 and cannot withdraw/ transfer!! Called HSBC back up and loan hasn’t been signed off! Has anyone else had this problem and received funds OK after ? They told me they still have no time frame despite waiting over 3 weeks now. Our business account and current accounts are both with HSBC. TIA 

Same as you. I applied on 4th, received echosign on 13th with 000 at the front of my account number. However, still have received new echosign. I applied for 50K. Yourself xjojox1990?

deno2000

whats the email address / topic the echosign comes from in case i missed it ?

my app was done almost 14 days ago, still havent heard anything apart from the auto reply

Engineer2020

deno2000 said:

whats the email address / topic the echosign comes from in case i missed it ?

my app was done almost 14 days ago, still havent heard anything apart from the auto reply

Same Here applied 2 wees ago and nothing...despite several calls and messages to them. Frustrating!