HSBC feeder account

moy1121

Applied 3 weeks ago now for HSBC feeder account to access BBLS but still haven't heard anything, has anyone actually heard back from them? If so how long did it take? And how long to hear back for the bbls loan? 

alcock612

Applied 3 weeks and 2 days ago already called them they said just have to wait

mmchugh

i applied for a hsbc feeder account what a waste of time it was on the first day it was launched.  after spending over an hour to try and get through to someone i eventually spoke to someone who took details of my business year trading etc said i would hear from someone in next 3 to 5 days a week later  i phoned again and told oh were not doing applications that way but my details were more than likely on the systems. 4 wks later i got an email link to ask if still interested then another link to complete the details about my business etc......  i then got a text message at 1.30pm saying they were looking at my application and if they needed anything they would contact me.  At 1.30am i got an email to say they had declined my application due to one of 3 factors.  information that i had put on the application, information they already had on myself or three credit reference agency..  bare in mind i had just had an application that sailed through for car so i have no personal adverse non on my limited company and also would love to know were they had information already about myself when i have never been to hsbc...   so just a total waste of my time just a paper exercise. i put a complaint in and just got the standard email that they take this seriously blah blah blah.  2 days later i get an email thorugh asking me to click on the link to complete my application for payment.  are they for real delined.  i have now asked for all information that they hold to be destroyed, in my opinion they are using our information to sell onto third parties....  At least other banks have been honest and tells you at the beginning they are not taking any new customers on HSBC just lie.......  So if you are thinking of applying it will be a waste of time check out there reviews.  also i though this process was supposed to be no credit checks again another lie... i never even got to ask or an amount to apply 

Jeremy535897

It has been explained on several threads that while a bounce back loan application is not subject to credit checks, an application to open a new bank account (even a feeder account) is.

nme123

hsbc - declined for BBL using my personal account due to my business being  a LTD company. They also declined to open a LTD co biz account. 
But they advised as follows: (which is totally unhelpful to me) 
If you still require a Bounce Back Loan, you’ll need to open either a Commercial Bank Account or, if you don’t want to become a Commercial Banking customer, you can apply for a Feeder Account. Information and ways to apply can be found on our website in the Next Steps section 

richi1515

does HSBC carry out a soft or hard credit check for a feeder account? 

Jeremy535897

richi1515 said:

does HSBC carry out a soft or hard credit check for a feeder account? 

Normally hard credit checks are used when applying for loans, but it may be that a hard credit check is used when the purpose of the account is to facilitate a loan, even though the loan itself should not be subject to a credit check. No doubt there will be applicants who can confirm what HSBC actually do.

richi1515

Jeremy535897 said:

richi1515 said:

does HSBC carry out a soft or hard credit check for a feeder account? 

Normally hard credit checks are used when applying for loans, but it may be that a hard credit check is used when the purpose of the account is to facilitate a loan, even though the loan itself should not be subject to a credit check. No doubt there will be applicants who can confirm what HSBC actually do.

Jeremy that makes sense. Do you reckon for a normal current business account it would just be a soft credit check then?

Jeremy535897

As I said earlier, if you are not applying for credit, and there is no overdraft facility, I would have hoped they only did a soft credit check, but I am by no means sure.

mantilaris

Applied for a HSBC Feeder account as I bank with a business bank not doing the BBL scheme on the 23rd May .. Identification approved,  2 weeks ago go email asking for my business account details. Told 2 days be in touch. Now over 14 .. rang today to be told next stage is the feeder account approval. Then the funds be released. It taken nearly 2 months and potentially looking at another 5 to 6 weeks, that's what I was told today. So much for help in my restaurant/pub. With bills coming from all angles its gonna ruin us! Has anyone else gone through this?