HSBC Bounce back loan

beautician777

10 days from application to money going in - applied on 4th May and money in account on 14th, that was with us already having a HSBC business account.  Hope everyone now received offer and money should be with you soon 

PES1

I applied on 4th May - heard nothing. Made numerous phone calls to the HSBC Covid-19, so called, 'helpline' where I was told to wait for the echosign email and someone would call me, neither the calls  nor the echosign email came. I left two messages on HSBC's Facebook page - no replies. I called the, so called, 'helpline' again on Monday 11th and insisted that someone call me back and I was assured that someone would. On Tuesday, to my delight and surprise,  someone called. Sigh, she said; '...we're very busy and it's taking longer than we expected...' I suggested that my application may have ended up in 'black hole' and should I try again? She said; 'It can't hurt'. I told her that after having an HSBC business account for more than 25 years how disappointed I was not even to get an email confirmation (I did get the reference after I submitted the application) and she agreed and said that all new applications were getting an email confirmation. I then applied again and sure enough, I got an email confirmation. The echosign documents arrived in an email timed at 2.54am Wednesday morning. On checking I saw that my account number was prefixed with 000 - I called the, so called, 'helpline'  (now on speed-dial) and was told it was a global error and new document would arrive Wednesday night. The new echosign email arrived (timed at 4.58am) Thursday morning. I signed it and now nearly 36 hours later, you guessed it, no money has arrived into my account! What's going on HSBC? Other banks, including Barclays whose web site crashed initially, have managed to fulfill loans - I despair.

gwc1

5 days since I signed digitally still zero payment 🤨

Danrover82

Has anyone been declined?

I have a personal account with HSBC and Applied yesterday, but only went self employed in Oct, I since called them as I didn't think the amount would be enough as my main contract is on half capacity for the foreseeable so was advised to reapply with my projected turnover and amount requested which I have.

My credit score isn't brilliant at the moment and I worry that they will try to find a way out of accepting?

The guy on the phone said should get a facility email early next week or over weekend?

Having not qualified for any other schemes I worry about going back to work and losing my UC and thus no being able to bounce back 

louloulewis64

Exactly a week today since I signed my BB loan agreement & received confirmation that they had received it. No funds received to date, ridiculous situation & very disappointed with HSBC. Are they sitting on the funds as long as possible in order to accrue the interest? In the meantime my account became overdrawn yesterday!

PES1

gwc1 said:

5 days since I signed digitally still zero payment 🤨

Was that the original application or the echosign agreement & Direct Debit that you signed 5 days ago?

davetheraver

louloulewis64 said:

Exactly a week today since I signed my BB loan agreement & received confirmation that they had received it. No funds received to date, ridiculous situation & very disappointed with HSBC. Are they sitting on the funds as long as possible in order to accrue the interest? In the meantime my account became overdrawn yesterday!

This is what I have been thinking, I know people who have received money the same day they applied, others over a week and nothing.

My thought was are they delaying payments to make interest

gwc1

PES1 said:

gwc1 said:

5 days since I signed digitally still zero payment 🤨

Was that the original application or the echosign agreement & Direct Debit that you signed 5 days ago?

Applied on the 6th and signed on the 12th, still nothing...

will8509

gwc1 said:

PES1 said:

gwc1 said:

5 days since I signed digitally still zero payment 🤨

Was that the original application or the echosign agreement & Direct Debit that you signed 5 days ago?

Applied on the 6th and signed on the 12th, still nothing...

Applied 10th signed paper work 12th , nothing as of yet

PES1

I was told by HSBC money within 48 including weekends, now 58 hours - no money in the account!