HSBC Bounce back loan

dothacker

andre87 said:

dothacker said:

I got offered to sign up for the hsbc kinetic account instead of the feeder because they said that the process would be quicker, it took just 2 days to set up the account then I applied for the loan on the 10th July, got the application ID near enough straight away and heard nothing since.

How did you sign up for the hsbc kinetic?

I got chosen to use the kinetic account, if you see one of my earlier posts in this forum I have pasted the whole email they sent me when I originally applied for the feeder account

RoxanaFilip

Lmac1 said:

RoxanaFilip said:

Ok,so i've got an update. My fund are in my account now. 🙏 BUT i can't manage to make a transfer on another account,also mine but with another bank. I need cash,how can i do that? 

How long did it take you from start to finish? 

Two months to open my bussines account. 
20 july-i applied 
22 july-received the documents to sign
26 july-fund in account
Didn't received an email,i just checked and the money were there. And maybe it sounds dumb,but now i don't know how to pull the money..

bricklinng

It took a month for me to open a feeder account...
7th July signed the echosign for feeder account opening
10th July got a SMS message saying that my account application was under review
Phoned and chat through online chat on last Friday and yesterday asking about the status...
finally for an email saying that my feeder account was approved and I can apply a BBL now...
may I know if anyone did fail in applying BBL even the feeder account was set? 

dothacker

bricklinng said:

It took a month for me to open a feeder account...
7th July signed the echosign for feeder account opening
10th July got a SMS message saying that my account application was under review
Phoned and chat through online chat on last Friday and yesterday asking about the status...
finally for an email saying that my feeder account was approved and I can apply a BBL now...
may I know if anyone did fail in applying BBL even the feeder account was set? 

Only if they decide to take away your feeder account, I've read one person on this forum that its happened to, but I would say you pretty much have it in the bag, they do credit checks on the feeder accounts not the loans, the only way you get rejected for the loan now if your business fails a fraud check.

bricklinng

dothacker said:

bricklinng said:

It took a month for me to open a feeder account...
7th July signed the echosign for feeder account opening
10th July got a SMS message saying that my account application was under review
Phoned and chat through online chat on last Friday and yesterday asking about the status...
finally for an email saying that my feeder account was approved and I can apply a BBL now...
may I know if anyone did fail in applying BBL even the feeder account was set? 

Only if they decide to take away your feeder account, I've read one person on this forum that its happened to, but I would say you pretty much have it in the bag, they do credit checks on the feeder accounts not the loans, the only way you get rejected for the loan now if your business fails a fraud check.

Thanks for the info, got more confidence now...
As my business was a new business started in Jan 2020...and having a profit before the lockdown...
hope there will be great news soon
finger crossed!

Lee1901

Still no money in my acc after echosign of the final paperwork on Friday Morning. Should I start chasing them or it’s too early?

jack1107

Hi all, I have followed this thread just to see other people’s status with regards to Hsbc bbl. I received my money today. I am a existing Hsbc business customer. My timeline is;
Applied: 26/06
Echo signed on: 14/07
Money received: 29/07
Good luck to the rest of you.  

debthelp1

Does anyone know if you can cancel the application after putting it in? 

I got the reference number that it had been received on July 8th but no echo sign docs since then. 

Frijol32

Hi everyone, I'm an HSBC personal bank account customer, I use my personal account for my small business. Applied for the BBL on 14th June, sent off last years Tax Return, received confirmation of application with id number and since then nothing. I've been phoning every other day for the last two weeks only to be told it will be escalated. I've written to my MP and the complaints/CEO email address. I did receive a reply yesterday from the CEO email to say that they are looking into it and will get back to me within 5 days. Just wondered if anyone else was in a similar situation, is it worth me waiting or trying another bank?
Thanks

bricklinng

Frijol32 said:

Hi everyone, I'm an HSBC personal bank account customer, I use my personal account for my small business. Applied for the BBL on 14th June, sent off last years Tax Return, received confirmation of application with id number and since then nothing. I've been phoning every other day for the last two weeks only to be told it will be escalated. I've written to my MP and the complaints/CEO email address. I did receive a reply yesterday from the CEO email to say that they are looking into it and will get back to me within 5 days. Just wondered if anyone else was in a similar situation, is it worth me waiting or trying another bank?
Thanks

similar situation,
I applied BBL on the 13th May, got an email on 4th Jun saying that I'm a personal account holder but not a business account holder so the application declined.
Called and emailed for more details about the next step, they just told me to apply a business account and a feeder account in the same time and lets see which one goes faster.
applied both on the 5th June, and got the mail on 20th Jun saying that my business account application failed.
however got echosign on feeder account setup on 7th Jul, and feeder account was set on 28th Jul.
Of course, still waiting the approval for BBL...
these three months was the hardest time I had ever have in my life!!!