HSBC Bounce back loan

BILLBO63

i have applied for a HSBC  feeder account and have been declined THIS feeder account in fact is a back door business account credit checks  carried out by bank  refused due to not meeting there criteria  equifax credit search it seems to me that  HSBC are cherry picking new clients  I have read  many responses on this forum regarding there applications while i have no problem what so ever with any one getting there loans but many people have commented on the forum saying that there credit ratings are  terrible but yet still received there loan ( good luck to you)  so i can not understand there  criteria good for sum and zero for others  i have complained to HSBC  but this has fell on what i would say just a scripted response any help would be welcome  

abc_12345

BILLBO63 said:

i have applied for a HSBC  feeder account and have been declined THIS feeder account in fact is a back door business account credit checks  carried out by bank  refused due to not meeting there criteria  equifax credit search it seems to me that  HSBC are cherry picking new clients  I have read  many responses on this forum regarding there applications while i have no problem what so ever with any one getting there loans but many people have commented on the forum saying that there credit ratings are  terrible but yet still received there loan ( good luck to you)  so i can not understand there  criteria good for sum and zero for others  i have complained to HSBC  but this has fell on what i would say just a scripted response any help would be welcome  

I am in the same position as you. Greedy HSBC uses the name of feeder to actually open a proper business bank account, though it shouldn't be the case for the feeder. My feeder was declined too. make a formal complain to British business bank

BILLBO63

i have contacted them and there reply was that it is down to the bank and there creiterea this is the response i received from HSBC

I’m satisfied the application was processed in accordance with our account opening criteria and the subsequent decline decision was in line with HSBC’s current policy.

 

Before we can offer you a Bounce Back Loan, you must hold an account with HSBC. This can be either a Business Current Account or a Feeder Account. Both of these accounts require us to complete our usual on-boarding procedures, which include Know Your Customer and Credit Reference Agency checks. While the Bounce Back Loan isn’t subject to credit assessment, the account opening process is.

 

Our criteria are based on various rules and parameters which are constantly updated. I regret due to their sensitive nature, I’m unable to provide specific information regarding these criteria.

 

I appreciate you were hoping for a different response and understand you may be disappointed with our decision; however, this was only taken after very careful consideration.

 

Privacy Notice

Please note that we will collect, process and retain your information and information relating to individuals connected to your businesses for the purposes of responding to your complaint. You can find a copy of our Privacy Notice, which sets out how we use this information and your rights in respect of it, on our website at https://www.business.hsbc.uk

 

abc_12345

yes. I got the same response. But it's not morally correct to decline on the basis of credit score as the whole purpose of the loan was to avoid it. Im totally fine with getting to know the customer, fraud prevention checks etc, but that's not the cause of this rejection. I have a personal HSBC mortgage account and I will show the middle finger when they try to cheat me for the monthly payment

BILLBO63

HSBC should be ashamed  there is absolutely very little customer service while i totally understand the situation we are all in  the vast delays in confirming you have or have not  been successful in obtaining a loan is disgraceful to say the least this forum has 100s of people with the same delays  but to them who have been successful good luck i do not have any bad feelings for those people it is  only what you are entitled to  i now have a business account with a new bank so i will start over again  NEVER WILL I RECOMMEND HSBC to any one good luck to all those people waiting for there loans  fingers x for you hope it is sorted out soon 

abc_12345

with whom you managed to open your new account? 

BILLBO63

RSB  from filling online application to receiving  debit card cheque book etc 8 days  applied for on line banking also with them  sorted out under 7 days  just waiting for  card reader  filled in bounce back loan application received a email saying in principle accepted  doing there  customer fraud checks etc so fingers xxx 

Excelsior_77

Been on hold with HSBC for 1.5 hours..! Anyone signed on 16th, 17th, 18th still awaiting funds? Andre87 have you got yours?

ceejayt

Signed in 16th and then again in 24th. Still waiting for funds. Ringing is pointless they can tell you nothing 

Daz4471

ceejayt said:

Signed in 16th and then again in 24th. Still waiting for funds. Ringing is pointless they can tell you nothing 

Exactly the same story. Was yours a feeder account.