HSBC - non account holder BBLS bounce back loan

mbehery

goldie2506 said:

Hello, has anyone had any joy as a sole trader getting a bounce back loan from HSBC without a business account. I use a Halifax personal account for my business and they have not offered the loans. 

Nope in the same boat, have called a couple of times but they have said keep an eye on your email so that could be an esign email from them.

chris_h16

I applied for the feeder account on 11th May and heard nothing, on another thread a guy said he was told up to 14 days

bhanuvaddi

I have an Ltd company and banking with HSBC (business banking) from 2014. I also have a business loan from 2018. I applied for the loan on 11th May (confirmation mail received soon after completing the application) and received an email requesting for e-signature on the agreement. I completed and returned the same day (received confirmation again). Yet to receive funds into the account. I got to know from other sources that HSBC taking 2 weeks to complete this loan process.

GoodRowan

I applied for a feeder account on the 6th, not heard anything from them since. I've actually not heard of anyone successfully opening a feeder account and being paid the loan through HSBC.
I am also a sole trader with a Halifax personal account.....Halifax need to pull their fingers out.

mbehery

chris_h16 said:

I applied for the feeder account on 11th May and heard nothing, on another thread a guy said he was told up to 14 days

Hey, i recommend you call the HSBC COVID number and ask for assistance, whilst they may not be able to give you an accurate answer they will take down details and hopefully will push a little. I did call again a couple of days ago and they took down my details to pass on to management so hopefully that this will help speed things up. Need it very soon as funds are running dry

mbehery

Do we have any legal ground that protects our business as this is really needee for my business. 

mbehery

goldie2506 said:

Hello, has anyone had any joy as a sole trader getting a bounce back loan from HSBC without a business account. I use a Halifax personal account for my business and they have not offered the loans. 

Nope, nothing as of yet

stevie433

Thrugelmir said:

Jeremy535897 said:

Robin9 said:

Using a personal account for a business almost certainly contravenes their T&C's.   

A lot of small businesses don't have a separate business bank account. The banks know that.

And now people will suffer the consequences of their own attempts to defraud the bank by not paying fees. In order to save themselves money.  
Going to be a lot of hard lessons experienced in the months ahead. 

A number of people cannot pass the credit check to run a bunisess account although they do not want or require any credit from the bank just requesting the faciltiy to run the busness though a business bank account. Quite an umpleasant and unhelpful comment towards many genuine people who have to jump though hoops the majoity of people don't even realise exist.

jas71

Applied for a feeder account on the 4th May today I finally got my account number and sort code and applied for the BBL - 3 and a half weeks lets hope there quicker to release funds!

mbehery

Has anyone or know of anyone that has managed to get funds. I need it to pay off taxes due to our friends at HMRC :S