HSBC Bounce back loan

Nnas123

Good morning all,
I have been a childminder since 2013, I have business and two other accounts with HSBC since 2013 but last month for no reason HSBC sent me a letter that my account will be closed in two months (29/0620) because they could not do business with me. I called several time to ask why but they would not tell me and I have not done anything wrong.
 I would like to know if I can still apply for Bounce back loan through HSBC

[Deleted User]

Update:
I had finally recived my new Echosign after 4 weeks. Money is showing up in my account since yesterday but not as available. It’s very confusing as money is showing up as available in a separate BBL Account but I can’t transfer in into my account as there is no option for that. Is anybody else also in the same boat?

MTK302

4th May Applied and finds recieved on 4th June. Total 32 days.

Danrover82

Did you have any obstacles like feeder account etc to open? 

MTK302

Danrover82 said:

Did you have any obstacles like feeder account etc to open? 

I have business account. Had many many issues. Finally resolved. Do read my previous posts

Danrover82

MTK302 said:

Danrover82 said:

Did you have any obstacles like feeder account etc to open? 

I have business account. Had many many issues. Finally resolved. Do read my previous posts

Just read through, I'm guessing have a decent credit score though. 

I'm not so lucky at moment and others with a Fair score have been declined 😔

puss198420

Nnas123 said:

Good morning all,
I have been a childminder since 2013, I have business and two other accounts with HSBC since 2013 but last month for no reason HSBC sent me a letter that my account will be closed in two months (29/0620) because they could not do business with me. I called several time to ask why but they would not tell me and I have not done anything wrong.
 I would like to know if I can still apply for Bounce back loan through HSBC

Yes you could apply as you still have a account. But they are a joke at the moment I’ve now been waiting 32 days for my echosigns email. 

My advice would be talk to other banks, see if you open a business account with them can you then later apply for the BBLS. your well out of HSBC they have handled this disgraceful 

LJAkers

Danrover82 said:

MTK302 said:

Danrover82 said:

Did you have any obstacles like feeder account etc to open? 

I have business account. Had many many issues. Finally resolved. Do read my previous posts

Just read through, I'm guessing have a decent credit score though. 

I'm not so lucky at moment and others with a Fair score have been declined 😔

Hi, I don’t think they are allowed to credit check you for the bbl. I think they can for opening a new account, as with any bank. 

I have now applied for a third time and now have two applications with HSBC as the guy on the phone told me I’m unlikely to have the second accepted and there wasn’t enough signatures ( partnership between me my dad and grandad) the guy in the bank said just mine and my dads signature would be fine. But on the phone to a somewhat very rude man said ALL PARTIES might need to sign. I don’t know if I’ve just made my situation a lot worse by having 2 applications in the system! It’s hard because even HSBC employees haven’t got a clue about the processes or what’s needed, so trying to find any help is near impossible. 

LJAkers

Sorry, just read that back, I meant the guy on the phone said it’s unlikely to be accepted 

bigpappa

1)The process is apply online for a loan.

2)Receive confirmation email.

3)Wait for outcome and if succesful the echo sign email.

4) Sign the document online.

Wait for funds to clear.

I would assume that once you get to stage 4 and have signed the document its simply HSBC paying you out? As the loan has been succesful and you have signed the agreement.