HSBC Bounce back loan

yngperspect

Exact same issue to above here.... In the portal you can upload documents so I photographed the letter with the verification code and the form with my added signature and individually uploaded them as photographed docs, then with the signature record, I sent to the address on the letter, not the enclosed envelope. When I checked back on the portal, a day or so later, there was a specific request for the Address verification code at the bottom of the screen so I did that again, following the instructions for that and submitted the verification code 

macman

Thanks, that makes a lot more sense!
The letter sent makes no attempt to explain this, and whoever wrote it does not appear to have tried or tested the procedure in house. Clearly implemented in haste, but a shambles nevertheless.

Daz4471

 I opened a feeder account , applied been granted loan signed eco forms on 16/6 and resigned on 24/6 because of wrong wording on first lot!! Is anyone in the same position and are still waiting to draw down the funds? This has just passed the 2 month mark in this process for me. Don’t know where to go! Every time I call I just get fobbed off!! Has anyone got an email address for me to complain? Would be helpful to know if anyone’s been able to resolve this problem or is in the same position
many thanks

ceejayt

Our money has arrived!!!!  16th June approved, 24th June resigned as 16th was incorrect, money in account today.

I did email all the HSBC contacts this morning so not sure whether that was what did it or whether it was my MP or whether it was just timing but at least it is in!  Hope that gives others some hope

bricklinng

Finally got an updated from my feeder account processing.
Echosign received, and let's see how long will the next step takes...
finger crossed!!

deltakilo

Hi folks , I seem to be in same situation as many here!

I'm an existing HSBC business customer of 10 years. I had my HSBC bbl approved on 12th june , signed the DD agreement, still no funds paid on 7th July!

Couple questions, I am sole director of a LTD company. On the echosign direct debit for "account holder/s" as I am sole director I put my own first name and surname.
Now I am starting to wonder if I should have put the company name (ltd) instead?
Can anyone confirm what they put on direct debit form?

As I've checked the form several times and I can't see anything else that could be incorrect. 

Also for anyone that made errors on the DD form, did HSBC inform you there was an error on completing the form or did you have to contact them to find out.
I've rung them once but they just said they couldn't check the status or any details of my application. 
Any answers much appreciated!! 

debthelp1

I have now opened a business bank account with HSBC for my Ltd company it took 10 days for them to approve it. 
I have applied for a BBL wondering if this is treated differently to those with feeder accounts as (might be wrong on this) they seem to be the accounts most people are having issues with?

[Deleted User]

debthelp1 said:

I have applied for a BBL wondering if this is treated differently to those with feeder accounts as (might be wrong on this) they seem to be the accounts most people are having issues with?

The issue is not the BBL itself it is the feeder account, people fail the credit check for the feeder account, so never actually reach the BBL application itself.

Yours should be relatively clear sailing now, it is unclear how much time they are taking to process new applications for BBLs but you will not be denied on credit checks as many have. You will probably have to verify turnover, or have a solid predicted turnover for those figures but I can't see a reason that you would not get through. Have you been allocated a a relationship manager yet? They will not be able to give you a definitive answer, but they will be able to give you a rough guide at the moment.

abc_12345

hope someone can give me some suggestion. I have a LTD and I am eligible to a BBL which I desperately need. As I was banking with TIDE thorough my business bank account, I was hoping to get one from them but they are no longer offering BBL due to funding issues.  I applied for HSBC business account and feeder and both declined due to my credit score due to some missed bills few months ago. Im hitting the same brick wall with other banks (Metro) etc and they have declined due to poor credit score. is there any way out of this for me? any suggestions would be appreciated

debthelp1

MadMattUK said:

debthelp1 said:

I have applied for a BBL wondering if this is treated differently to those with feeder accounts as (might be wrong on this) they seem to be the accounts most people are having issues with?

The issue is not the BBL itself it is the feeder account, people fail the credit check for the feeder account, so never actually reach the BBL application itself.

Yours should be relatively clear sailing now, it is unclear how much time they are taking to process new applications for BBLs but you will not be denied on credit checks as many have. You will probably have to verify turnover, or have a solid predicted turnover for those figures but I can't see a reason that you would not get through. Have you been allocated a a relationship manager yet? They will not be able to give you a definitive answer, but they will be able to give you a rough guide at the moment.

No relationship manager as yet, in the application I was asked for an estimated turnover which I think is all they require.
Hopefully I am over the main hump and get it soon as not been able to pay myself for four months.