Bounce back loan Santander

strawpanda

strawpanda said:

strawpanda said:

strawpanda said:

My bounce-back loan was approved last Friday (15 May), it is now Thursday (21 May) and I'm still waiting to see the money. Yesterday I spoke to several people at Santander, they can give me no timescale or explanation, they just say they're busy. It's pathetic. 

Now they tell me 'something' has failed but they don't know what! I've lived at the same address for decades. I have no criminal record. My credit history is squeaky clean, my credit rating is sky-high. Maybe it's that parking ticket I got in the 1980s. The circus continues. 

The latest story is that there was a glitch in the IT Dept. a week ago and 'it's being looked into'. It's a joke.

So near close of play today, i.e. as the bank holiday weekend is starting, I'm asked to confirm where I was born, what passport I have, what I do for a living. All very basic stuff that could have been done a week ago. And of course now nothing will happen until Tuesday at the earliest, approaching 2 weeks since I applied. Amateurish comes to mind. 

yan1603

Hooray we have been paid by Santander so you guys shouldn’t be long, good luck and be safe

davetheraver

Latest I've heard from Santander account holders, is they have sent a lot of emails out declining applications.

Apparently its because they account applied under, was not used for business transactions.

I am assuming its to do with customers using personal accounts for business purposes.

I am not sure if they refused after sending the agreement, or refused without sending an agreement. Can anyone confirm?

Stetiatai

I applied for my loan on 5th May and was subsequently asked a week later for copies of my tax return and various proof of address and self employment status. I am a sole trader driving instructor and although I only have a personal account, this is my only bank account and shows direct credits from pupils clearly referenced as driving lessons. According to the eligibility criteria provided by Santander having a personal account does not exclude you from applying for the loan and I have proof that it is being used for my business. So you can imagine my disbelief when I finally receive an email from them last night that my application has been rejected on the basis that my account is not being used for my business! Having phoned them this morning and spoken to lady called Dipika she informed that there appears to be an error on their behalf with declining a vast number of applications. She could not tell me why this has happened and I now have to phone them again on Monday to find out whether or not there has been an error in declining my loan. Is anyone else experiencing this problem?

Boobear13

Stetiatai said:

I applied for my loan on 5th May and was subsequently asked a week later for copies of my tax return and various proof of address and self employment status. I am a sole trader driving instructor and although I only have a personal account, this is my only bank account and shows direct credits from pupils clearly referenced as driving lessons. According to the eligibility criteria provided by Santander having a personal account does not exclude you from applying for the loan and I have proof that it is being used for my business. So you can imagine my disbelief when I finally receive an email from them last night that my application has been rejected on the basis that my account is not being used for my business! Having phoned them this morning and spoken to lady called Dipika she informed that there appears to be an error on their behalf with declining a vast number of applications. She could not tell me why this has happened and I now have to phone them again on Monday to find out whether or not there has been an error in declining my loan. Is anyone else experiencing this problem?

Me too. I’ve read another post stating there’s been a system error. I’m hoping this is the car but am calling up Tuesday to check.

simpson12

I applied thru my personal santander account for bbl because our business bank, bank or ireland, were not offering the bounce
back then.  Santander asked for tax returnes etc, all were sent, then took 3 weeks to says they declined on the basis it was not our main business bank.  Website states personal accounts are acceptable and why ask for additional supporting docs to turn it down on 'Unfortunately, we’re unable to offer you a Bounce Back Loan as the account you applied from is not the main account you use to run your business transactions through, which does not meet the requirements set by the scheme,'  They just wasted time.

yan1603

Why why not go to Starling, it’s a nightmare 

simpson12

Boobear13 said:

Stetiatai said:

I applied for my loan on 5th May and was subsequently asked a week later for copies of my tax return and various proof of address and self employment status. I am a sole trader driving instructor and although I only have a personal account, this is my only bank account and shows direct credits from pupils clearly referenced as driving lessons. According to the eligibility criteria provided by Santander having a personal account does not exclude you from applying for the loan and I have proof that it is being used for my business. So you can imagine my disbelief when I finally receive an email from them last night that my application has been rejected on the basis that my account is not being used for my business! Having phoned them this morning and spoken to lady called Dipika she informed that there appears to be an error on their behalf with declining a vast number of applications. She could not tell me why this has happened and I now have to phone them again on Monday to find out whether or not there has been an error in declining my loan. Is anyone else experiencing this problem?

Me too. I’ve read another post stating there’s been a system error. I’m hoping this is the car but am calling up Tuesday to check.

Same decline with me

simpson12

davetheraver said:

Latest I've heard from Santander account holders, is they have sent a lot of emails out declining applications.

Apparently its because they account applied under, was not used for business transactions.

I am assuming its to do with customers using personal accounts for business purposes.

I am not sure if they refused after sending the agreement, or refused without sending an agreement. Can anyone confirm?

yes i was truned down on personal application basis, as my business bank was not offering the loan, no agreement sent out.

strawpanda

strawpanda said:

strawpanda said:

strawpanda said:

strawpanda said:

My bounce-back loan was approved last Friday (15 May), it is now Thursday (21 May) and I'm still waiting to see the money. Yesterday I spoke to several people at Santander, they can give me no timescale or explanation, they just say they're busy. It's pathetic. 

Now they tell me 'something' has failed but they don't know what! I've lived at the same address for decades. I have no criminal record. My credit history is squeaky clean, my credit rating is sky-high. Maybe it's that parking ticket I got in the 1980s. The circus continues. 

The latest story is that there was a glitch in the IT Dept. a week ago and 'it's being looked into'. It's a joke.

So near close of play today, i.e. as the bank holiday weekend is starting, I'm asked to confirm where I was born, what passport I have, what I do for a living. All very basic stuff that could have been done a week ago. And of course now nothing will happen until Tuesday at the earliest, approaching 2 weeks since I applied. Amateurish comes to mind. 

I finally got my loan this morning, they certainly made hard work of it.