HSBC Bounce back loan

ceejayt

Hung on for 35 minutes, agent eventually answered and I was immediately cut off - they are absolutely useless - I am ready to kill someone

lukeyhc31

Excelsior_77 said:

HSBC seemed to be stuck currently on the batches of 16th June signers (with errors). Some already got their second set / third set of echosigns, and some still stuck? Anyone out there signed on 17th or 18th? Mine was signed 18th, has a DD set up without date or amount.. but no drawdown account showing facility available. Deeply stressed!

Hi mate, I wouldn’t be that stressed as if u have the DD that’s automatically been set up on your account by HSBC, I’d say u will get the money in next 48 hours, although some don’t seem to be getting it 48 hours after signature, but I was lucky and did, hope you get the funds ASAP👍

ceejayt

Rang the 0800 number - took two goes to get through - they could tell me nothing - now trying the 0345 number using the feeder account details - hanging on for an agent - I am not hopeful.  Next stop my MP

ceejayt

Have emailed our MP, this is our journey so far...

• 11th May - call with an HSBC person to start the process of opening a feeder account
• 26th May - feeder account successfully opened and loan application successfully completed
• Numerous chase calls and emails as nothing seemed to be happening
• 16th June - document to sign stating our application had been successful 
• 24th June - second set of documents saying they had made an error on the forms and please resign - the money will be with you as quickly as possible

Also sent him this link...

https://smallbusiness.co.uk/hsbc-handling-of-bounce-back-loans-branded-shambles-by-businesses-2550512/

Cougar1214

Hi applied 22nd May received documents to sign 16th June money received 23rd june so approx 4 week wait.

andre87

Excelsior_77 said:

HSBC seemed to be stuck currently on the batches of 16th June signers (with errors). Some already got their second set / third set of echosigns, and some still stuck? Anyone out there signed on 17th or 18th? Mine was signed 18th, has a DD set up without date or amount.. but no drawdown account showing facility available. Deeply stressed!

I signed on 18th june aswell.
received an e-mail the following day saying that im not a hsbc customer, ringed them a few times and they said everything is fine and i should wait for money, not no money yet only the DD
have you received your money?

Excelsior_77

Andre87, no have not received drawdown as well. I have the same issue with you (I signed on 18th, and HSBC sent me an email on the 19th saying I am not a HSBC Commercial Business Customer) - however I clearly am! My application is for my Ltd Company and I have a Business Account with HSBC. In their email they also said "We are sorry it's taken longer than we would have liked to write to you about your Bounce Back Loan application you submitted in May..." . Well I only submitted once on 5th June (and not May), and I clearly am a HSBC Commercial Banking customer! Same with you I rang and emailed and received assurances saying it is fine and I should wait for the money drawdown in my account. It is so messy ...!

andre87

Excelsior_77 said:

Andre87, no have not received drawdown as well. I have the same issue with you (I signed on 18th, and HSBC sent me an email on the 19th saying I am not a HSBC Commercial Business Customer) - however I clearly am! My application is for my Ltd Company and I have a Business Account with HSBC. In their email they also said "We are sorry it's taken longer than we would have liked to write to you about your Bounce Back Loan application you submitted in May..." . Well I only submitted once on 5th June (and not May), and I clearly am a HSBC Commercial Banking customer! Same with you I rang and emailed and received assurances saying it is fine and I should wait for the money drawdown in my account. It is so messy ...!

I used my personal account for sole trader and sent the 2018/19 tax return, same to me, they say everything is fine and they said that there were many receiving that e-mail and they stated That is just an error and everything is fine

Moneysavermum

Hello, I haven’t posted before but have been lurking and reading experiences - it helped me be patient!  I’m a sole trader and have a personal account with first direct.  Applied 29/5 and uploaded tax return.  Got confirmation email immediately.  Silence for weeks.  Last Monday I called the coronavirus number for business customers and a very helpful woman told me to email my tax return to a specific email address, with my application ID reference and then give it a few more working days. On Thursday I received the echo sign docs, signed and money was in my account within a couple of hours.  It was all very smooth, apart from the initial long wait, no contact makes you twitchy!

Just under 4 weeks from application to funds in.  

sean_jackson

Moneysavermum said:

Just under 4 weeks from application to funds in.  

Hi Moneysavermum, wow that's great and congrats to you. You are definitely amoung the quicker/luckier ones, me less so, i applied on 13/5 so roughly 2 weeks before you (with a first direct personal account also) and although i'm in touch with them fairly regularly i'm heading into my 7th week come next week, the feeder account creation is taking forever, never mind it can be up to 2 weeks after that  (if accepted) you can get your funds. It's not exageratting to think I could be in this process up to 9 weeks if things go "well" so it's clear there is massive disparity in the process unfortunately.