HSBC Bounce back loan

Victory2020

moops1313 said:

Victory2020 said:

moops1313 said:

Hi all, i opened a feeder account amd that was the account number on the echo form thing, does anyone know if the funds go into that account? If so how do i access them?? Tia xx

Yes, Tia, the money will go into the feeder account and you can access the feeder account via the account number and the sort code provided. I believe HSBC would have sent you your card and the device needed to access your account. The feeder account is only meant for 2 purposes: for the loan to be paid in and for you to transfer the money to your chosen account. 

I havent recieved anything for the feeder account except the account number and sort code so i have no idea how to check if its there or how to transfer it 

I believe HSBC will inform you once your payment has been made. I don't know how the feeder account works, but I'm assuming you'd be informed with regard to money transfer once echosign has been submitted. Alll you need to do at this juncture is to simply wait and hope they'd get back to you as soon as possible. 

moops1313

I have been told the money is in my feeder account and will be transfered to my nominated account in the next 24 hours.

Victory2020

moops1313 said:

I have been told the money is in my feeder account and will be transfered to my nominated account in the next 24 hours.

Many Congratulations Tia🥳🎉😎
X

johnboy121

Hi, finally got my feeder account accepted took 10weeks! I have applied for the bounce back loan, does anyone know roughly how long this will take? Do I have to now be accepted and then sign another document? Was the first one just a submission? I hope now we have the account we should not be rejected Thanks a lot 

Annie21010

Moops 
did you receive another document to sign after the one sent to you after applying for bbl after getting your feeder account ? Thanks ! 

Xandermonn

Morning all. I applied for HSBC's feeder account in order to access the Bounce Back loan as I don't bank with them. My application was declined and I was also unsuccessful with my appeal against their decision. I am surprised as I have an excellent credit score of 997 out of 999 from Experian having never missed a mortgage, personal loan or DD repayment. I have not worked as a PHV driver since being shielded at the beginning of lockdown so have relied on the 2 seiss grants. I'm ready to start working but expect it to take a while for my income to return to previous levels. I was hoping to get the BBL to help with initial cashflow. I'm wondering whether I should upgrade my Experian account to their CreditExpert account at £14.99 to see if there is anything on the file that I'm not aware of. Any advice greatly appreciated.

Victory2020

Xandermonn said:

Morning all. I applied for HSBC's feeder account in order to access the Bounce Back loan as I don't bank with them. My application was declined and I was also unsuccessful with my appeal against their decision. I am surprised as I have an excellent credit score of 997 out of 999 from Experian having never missed a mortgage, personal loan or DD repayment. I have not worked as a PHV driver since being shielded at the beginning of lockdown so have relied on the 2 seiss grants. I'm ready to start working but expect it to take a while for my income to return to previous levels. I was hoping to get the BBL to help with initial cashflow. I'm wondering whether I should upgrade my Experian account to their CreditExpert account at £14.99 to see if there is anything on the file that I'm not aware of. Any advice greatly appreciated.

That's rather unfortunate. My Experian score is 993 and I successfully applied for a business account. I don't know how they access your case, however I would have thought that anyone with such an excellent rating shouldn't have any issues with approval. 

Perhaps you should try the newest kid on the block Conister Bank. It is the newly accredited bank to offer BBLS. You don't need to be a customer to apply for the BBLS. Go online and do it now before they become overwhelmed like HSBC. Good luck 😎🤞

bazzyb

Victory2020 said:

Xandermonn said:

Morning all. I applied for HSBC's feeder account in order to access the Bounce Back loan as I don't bank with them. My application was declined and I was also unsuccessful with my appeal against their decision. I am surprised as I have an excellent credit score of 997 out of 999 from Experian having never missed a mortgage, personal loan or DD repayment. I have not worked as a PHV driver since being shielded at the beginning of lockdown so have relied on the 2 seiss grants. I'm ready to start working but expect it to take a while for my income to return to previous levels. I was hoping to get the BBL to help with initial cashflow. I'm wondering whether I should upgrade my Experian account to their CreditExpert account at £14.99 to see if there is anything on the file that I'm not aware of. Any advice greatly appreciated.

Perhaps you should try the newest kid on the block Conister Bank. It is the newly accredited bank to offer BBLS. You don't need to be a customer to apply for the BBLS. Go online and do it now before they become overwhelmed like HSBC. Good luck 😎🤞

Conister have already closed their applications down unfortunately. 

gt94sss2

Xandermonn said:

I'm wondering whether I should upgrade my Experian account to their CreditExpert account at £14.99 to see if there is anything on the file that I'm not aware of. Any advice greatly appreciated.

No, save your money.
The scores that the credit reference agencies provide are largely meaningless.
You can view your credit record at the 3 biggest agencies for free by signing up to ClearScore, Credit Karma and the MSE Credit Club
Who do you bank with?

moops1313

Annie21010 said:

Moops 
did you receive another document to sign after the one sent to you after applying for bbl after getting your feeder account ? Thanks ! 

I applied on 1st july  for feeder account that was openes on 13th august  i then applied for yhe bounce back loan and i recieved an echo sign thing on 1st september, i then dot told on 2nd sep it was in my feeder account but still waitinf for it to be transfered to my bank account.