HSBC Bounce back loan

IndieRae

Yea I would have thought they would have cleared also normally takes 48hours have you tried the message centre in your account to contact them?

jjmummy

I tried to apply BBLS again. but they do not accept the second application.

The terms of the Bounce Back Loan Scheme only permit a business to apply for and have one Bounce Back Loan. An application has already been submitted using this sort code and account number.

Should you wish to discuss further, please utilise the services available to you through our Internet Banking, alternatively you can contact your Relationship Manager or the Coronavirus Customer Support Line on 0800 0121 614.

Embarrasingmum

I applied for a Bounce back loan on 12th May with HSBC. Got our application summary and ref that day. Still waiting on a decision. Surely the govt or maybe MSE could intervene to ask them to communicate better with their customers. Have been an HSBC business customer for years and I am appalled at their lack of communication and inability to say within a time frame e.g within 6 weeks. These loans are supposed to be helping the self employed and instead and driving us to insanity, all  this waiting. Especially since the govt don't pay the next SE grant payment until August!

bradztheman

After over 3 weeks of making my application for the bounce back loan With hsbc, i had an email this afternoon saying ive been successful and to electronically sign the agreement which i did an hour ago. How long will it normally take for the funds to go into my hsbc account?? 

puss198420

Embarrasingmum said:

I applied for a Bounce back loan on 12th May with HSBC. Got our application summary and ref that day. Still waiting on a decision. Surely the govt or maybe MSE could intervene to ask them to communicate better with their customers. Have been an HSBC business customer for years and I am appalled at their lack of communication and inability to say within a time frame e.g within 6 weeks. These loans are supposed to be helping the self employed and instead and driving us to insanity, all  this waiting. Especially since the govt don't pay the next SE grant payment until August!

Think yourself lucky you can claim the SE grant 😂 I am a one person limited company and I can’t get any help like that. 

As for my application on the 4th of May I had a phone call today telling me to reapply as there was a mistake on my application. Nice of them to tell me of this 1 moth and 5 days after I applied 😤

stu2003

Hi all,
I am a sole trader with a personal account at HSBC and i applied for a bbl on the 21st May, i got my conformation email straight away and i signed. I didn't phone them or email them, i thought i would just let it run it's course. I got the echosign email on the 4th june and received the cleared funds in my account on the 5th june. I had been turned down for every other form of help from the goverment and the HSBC has come through and saved me and my family. I didn't think i would get this either (even though i have a very good credit rating), but now have had the help. I have followed this forum for a while now and i hope it will all work out for the rest of you. I have my fingers crossed for you.

sean_jackson

I applied for my bounce back loan on the 12th May, just found out yesterday after my weekly go at ringing them that i now need a feeder account, i cannot believe it's one month on and they have just told me that, i spoke to the guy for feeder accounts after 2hrs, 40 mins waiting and then he said someone would get back to me within 2 - 4 weeks hopefully!!! so my one month wait is looking like a mid point and not and end point at all, really dismayed as i thought this was designed to get me back with my customers again as they are waiting and my funds are no nearer at all. HSBC what the hell is going on?

BusyDeeX

Can anyone elaborate on the process is involved for opening a Feeder account as a Ltd company Director with only a personal account at HSBC and not a business account?  What do they need from me? Will it involve a Credit Check? Do I need to provide the past X number of years' financial data / tax returns? What questions will it be useful for me to ask them at the time since I will likely not hear back for weeks again after? 

I called and they took my name, phone, email, Business name and nature of business then said I will be contacted in future with no ETA available. 

Daz4471

I have gone through the process to open a feeder account. It started on the 6th may, it’s a very long and complicated process. However I’m not a HSBC customer, so hopefully it will be less painful for you. I completed my application and submitted it on 2nd June. Had a email conformation straight away. Heard nothing since. Was not asked to submit proof of turnover for 18/19.... but would not be surprised if that comes next. The only plus was the man from HSBC stayed on the line and talked me through the whole process, if he hadn’t I’d have given up... I’ll update when I hear 
anything else
good luck

bricklinng

Hi all,
wanted to share my experience for now
my business was setup on the 6th Jan, 2020 (really new business).
I have a HSBC personal account and applied BBL from 13th May. Got a reply on 5th June said that the loan will not approve because I don't have a business account with HSBC.
I used the online live chat and the agent said I should call to have a feeder account and apply a business account in the meantime.
Of course I called the COVID-19 hotline for feeder account opening, and they still didn't reply me for the week.
hope everyone will have results soon.