Starling Bank decline bounce back loan

Smalt36

Yeah they've turned me down after I've just set everything up with them, wo t give me a reason which is the most frustrating part of it

fdkdes

Seems to me Starling are just wanting customers but yet when customers need their help they don’t want to give it. I was submit an FOI request stating you want to see all information held on you and your company that they hold. Also check the CIFAS register. CIFAS is the fraud register. If your not on it then Starling can’t say you failed the fraud checks. Apply to another bank if Starling are declining you. HSBC are giving bounceback feeder accounts which is solely for a bounceback loan. There’s no credit check involved to open it.  

jackroit

Smalt36 said:

Yeah they've turned me down after I've just set everything up with them, wo t give me a reason which is the most frustrating part of it

solo trader or Ltd Company?

Smalt36

jackroit said:

Smalt36 said:

Yeah they've turned me down after I've just set everything up with them, wo t give me a reason which is the most frustrating part of it

solo trader or Ltd Company?

Sole trader

conceptboilers

I have been with Starling 2 years, I have put close to £200k through my sole trader account with them and made decent profit, I went VAT registered last year I have checked my credit file with all 3 of the agencies, nothing other than recent missed payments due to work drying up, nothing fraudulent about my application, I got a new pickup on finance last year so my rating cant be bad Still declined with no reason, I'm in the process of changing to another bank. I think I may give up running my own business, i'm sure Starling have used my turnover to make money but when I need a LOAN that i fully expect to pay back, earning them more money, they decline me

The_Flump

Anne Boden (Starling CEO) has responded to the Twitter criticism of the decision to mass decline some applicants. Apparently, it all comes down to being high credit risk applicants. Another interesting point was that even though the BBB has allowed the banks to lend without performing a credit or affordability check, they are not actually excluded from doing them, and that seems to be what has happened.

member.fintech.global/2020/05/18/starling-bank-ceo-responds-to-bounce-back-loan-criticism-from-rejected-would-be-lenders/ 
(can someone who has been around a bit longer turn that into a link please?

scrooger

Full link:
https://member.fintech.global/2020/05/18/starling-bank-ceo-responds-to-bounce-back-loan-criticism-from-rejected-would-be-lenders/

redout007

I applied for a business bank account for a different company with a bank I use to bank with.  The other company is still running, but the account was transferred.  Yet this bank declined my new company account with 22 free (Clue to the bank) months free backing, and don't have to give me a reason, all I can think is the old company name still trading, has a saving account with them, 1p in and/or both companies have the same address.  How can I find out WHY they have declined me? Apparently they don't have to tell me