HSBC Bounce back loan

SteveGarner02

Waiting 15 weeks now for HSBC to sort out my BBL, I’ve had a business account for 17 years but all I get is generic emails saying they really sorry, ridiculous and pathetic response. Nobody to talk to or help and yet everyone I have spoken to about other banks had their money paid out in days, they just not bothered 

DwmGateshead

I applied to open a feeder account on 24 June 2020. This was opened on 10 August 2020 ( long delay partly my fault as I mislaid a letter they sent out). I applied for b b l on the same day and was advised that this had been approved about a week after that.  Documents to esign received  on 10 September and date for payment is set to be 24 September.  To be fair to HSBC whilst progress has been slow, they have done exactly as they said they would at each stage and it looks like it has worked out. So to everyone out there who is waiting I hope these dates give them a guide as to the time spans involved and gives them hope. Stick with it . Remember HSBC are the only large bank to offer this facility to non customers and they have been flooded with applications. 

katiesutton19

Hi there - can I ask what kind of approval notification you received? 

I applied for a feeder account around the same time as you, and only on Friday I received the echo sign document but nothing in clear terms to say ACCEPTED or with an estimated funds date. 

Many thanks 

DwmGateshead

Hi Katie.
I think my memory is at fault here. I thought I had received an email but have checked and cannot find one so to be honest I am not 100% sure. Perhaps being sent the loan document to sign is the notification that you have been successful. However the good news is that if you have been sent the esign docs you have definitely been approved.  If you have a look at the email sending you the document to sign there should be a date on there towards the top of the email between print in red and print in blue (it's not very obvious and I missed it when I first read the email) and I think that's the date you actually get the cash! 

Dee1888ie

DwmGateshead said:

Hi Katie.
I think my memory is at fault here. I thought I had received an email but have checked and cannot find one so to be honest I am not 100% sure. Perhaps being sent the loan document to sign is the notification that you have been successful. However the good news is that if you have been sent the esign docs you have definitely been approved.  If you have a look at the email sending you the document to sign there should be a date on there towards the top of the email between print in red and print in blue (it's not very obvious and I missed it when I first read the email) and I think that's the date you actually get the cash! 

Hi, 
My dates are very similar to yours regarding the the e-docs to sign. My letter also says the 24th Sept. Hopefully this is the date. I'll report back if it happens sooner.

@katiesutton19
I got an email telling me my feeder account was accepted and in the email was where I applied for the BBL. It was around 3 weeks after that I got the email saying my BBL was accepted and I'm almost sure the e-docs where with that email. I'm not sure how you have e-docs when your saying you never got to a loan agree to fill in.

HSBC are doing a call back system for enquiries. It could be worth using for anyone looking info (unless its time frame info they don't know themselves) They normally call back in 30/40mins.

Dee1888ie

katiesutton19 said:

Hi there - can I ask what kind of approval notification you received? 

I applied for a feeder account around the same time as you, and only on Friday I received the echo sign document but nothing in clear terms to say ACCEPTED or with an estimated funds date. 

Many thanks 

Hi,
When accepted for the feeder account I logged back in the retrieveapplication part of hsbc website and put in application reference number, from there I was able to see the loan application and select how much of a loan I needed. Once the system worked out how much was my 25% going on the annual revenue from the business, I could then chose how much I wanted of a loan.
If you've done all that and got the e-docs hopefully you won't have to wait long in the funds. Otherwise double check on hsbc retrieveapplication and make sure everthings in order.

ak1111

Hi,

Applied for the feeder account in July, finally got approved on 4th Sep and applied for BBL on the same day. Heard nothing back until saturday when I received a welcome to your Business Account letter in the mail. This morning I received another letter asking me to sign and upload the signature card on their website. It has the same reference number as the feeder account but it definitely says business account. Still nothing back about the BBL and checked in case I had applied for a Business Account instead of a Feeder Account but I didn't. Just worried now that someone had made a mistake somewhere and my application hasn't been dealt with yet.

Alisaab

Hi is there a help line number or email that I can contact to get an update on a bbl application? Took 11 weeks to open the feeder account and applied for the loan on the 20th August and not heard anything since appart from the standard acknowledgement email that they have received the application . Thanks any help would be appreciated.

Dee1888ie

Alisaab said:

Hi is there a help line number or email that I can contact to get an update on a bbl application? Took 11 weeks to open the feeder account and applied for the loan on the 20th August and not heard anything since appart from the standard acknowledgement email that they have received the application . Thanks any help would be appreciated.

I applied for my BBL on the 13th of August and only got my reply on the 11th September. 
I rang the help line on the 10th to double check they had received the email back. She said they had and told me it was basically a waiting game, but the next day I got the email of acceptance.
Hopefully you shouldn't have long to wait. 
03457606060 
That was the number I used but don't be expecting to hear a time frame. I just wanted to make sure all the emails got sent to the right people.
Also request a call back as its easier than being on hold.

wols4

Hi , I applied for feeder account on July 8. I was approved for the feeder account on 8th August , applied for the BBL and received the acknowledgment on 8th of August . However since then I haven’t received any echo sign docs from HSBC, reviewing the threads above I can see that some people who I applied after me , have received there echo sign or Atleast the funds . Is there any precedence for anyone who has been rejected bbl application With HSBC. I am just abit confused about on how to go about this ,my business is ltd company established 2018 and has been trading since then .