HSBC Bounce back loan

arlene44

Nothing. Didn’t bother phoning them as others have said that they have no say or hot wire to their colleagues who are dealing with the loans. I had no problem opening the business account. Very strange.

dothacker

I got this email when applied for a feeder account  -

Thank you for applying for a Business Current Account with HSBC UK. As you are aware, we are one of the few banks accepting applications for Business Bounce Back Loans from businesses that aren’t currently our customers and we’ve been inundated with requests to open accounts. As a result, the wait times for these new accounts are significantly longer than they were pre-Covid19. We’re writing to you to let you know that we may be able to offer faster account opening through HSBC Kinetic, our new mobile business banking service. This is currently in Beta testing and includes a mobile first current account.

If you meet the criteria below, you can apply to open an HSBC Kinetic Current account: • You have a Limited company, are the only Director and sole shareholder, filed accordingly with Companies House OR You are a Sole Trader and the sole owner of the business for which you are applying  • You are a tax resident in the UK but not the Channel Islands or the Isle of Man • You have an existing primary business banking account with another bank • You are an iPhone user  • You are able to download HSBC Kinetic within the next 5 days and complete the HSBC Kinetic test account application

HSBC Kinetic Current accounts are accessed using an app. You will be able to use all the banking services in the app such as receiving and making payments, tracking spending and many more which are in a continuous development. Our Beta Test customers are helping to make them even better. As these accounts are still in the testing phase, there are restrictions on how you can use them. For example, you can’t use an HSBC Kinetic Current account as your main business account while it’s in test. Information on the restrictions applicable to our test products are set out in the HSBC Kinetic Beta Test Agreement. Opening a HSBC Kinetic Current Account typically takes 2 working days once you have applied in the app. This may be faster than opening an HSBC UK Business Current Account so, if you are successful in getting an HSBC Kinetic you may be able to apply for a Bounce Back Loan in less time. Important note on credit check - as part of your application for a Business Current Account with HSBC UK a credit check has already been carried out with a credit reference agency and you will have given your consent to this. If you apply for a HSBC Kinetic Current Account a new credit check will be carried out subject to your consent. The credit reference agencies keep a record of all searches and this allows financiers to see when and how many times other financiers have accessed your credit information. This information may then be used in an assessment to accept or decline your application for an account or borrowing. Please note by applying for HSBC Kinetic you are withdrawing your recent application with HSBC UK for a Business Current Account.

debthelp1

arlene44 said:

Nothing. Didn’t bother phoning them as others have said that they have no say or hot wire to their colleagues who are dealing with the loans. I had no problem opening the business account. Very strange.

I Have now spoke to someone there and they said can’t give a timeframe on when I’ll receive the echosign documents but they have now got more staff working on processing the loans than before so shouldn’t be much longer 

Not giving much away 

masayoshi

• New HSBC client after applied 15 JUNE, and Got approved 29June; 

• 29 June Applied the BBL, and do nothing but wait until 16 July, got an email said application succeedfully

" We need your signature on your HSBC Bounce Back Loan and Direct Debit (Review and Sign) Dear Customer,
Your application for a HSBC Bounce Back Loan was successful and now we need your e-signature to complete the process."
and done with the echosign with "You signed: "Urgent: Your HSBC Bounce Back Loan documents"; All process just wait never chase anyone or depts.

Now wait again, let's see how long it takes to account... 

Smithraja

andre87 said:

Excelsior_77 said:

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

Nothing.. i still see the DD. On phone they say everything is fine i have to wait for money..

Did you receive your funds yet? I've sent echosign 2 days ago. DD set up but no funds

Smithraja

HSBC. Signed echosign. Sent. 3 days now but still nothing. DD settled up on Thursday. Any advice?

masayoshi

Smithraja said:

HSBC. Signed echosign. Sent. 3 days now but still nothing. DD settled up on Thursday. Any advice?

Same Status

jackroit

Hi
i have applied 5 weeks ago for a BBL with an existing account of an Ltd Company, didn't hear anything and didn't get the ECO sign documents to sign, will it help me to call them, or I just need to wait and wait...?

MariaFrances4

I have been trying to get my bounce back loan from HSBC since the beginning of May.
I have spent my days on hold and when finally getting through and being past onto several different departments I’m fobbed off yet again. I was eventually advised to go down the complaints route which I have...but surprise surprise after 3 weeks of sending emails regarding my complaint I’m still sat here in the same position. We have banked with HSBC for over 15 years and cannot believe how appallingly they have handled this not to mention how much they’ve let us down. 

We are wondering if we can apply through another bank instead? 

Givens

I've applied for a bounce back loan through HSBC whom I bank with, applied early May and only heard back late last week that my application had been denied as my tax return lists my income from lettings activity only and doesn't evidence that I'm performing a trading activity. Has anyone in my situation had the same response? I've not read anywhere that landlords weren't allowed to have access to a bounce back loan.