HSBC BBL shambles

Joinery

Good Morning all,
I applied for the BBL loan from HSBC (existing business customer) the application was approved and the agreement signed. Its been 240 hours and counting with no funds as yet, extremely frustrating and impossible to get an answer from HSBC. All they are doing on twitter is posting automated replies, is there any way of giving them a nudge in the right direction? Its virtually impossible to get through on the phone and they are not replying to emails. Judging by the amount of activity on their Twitter account there are a lot of people in the same limbo, there is clearly a major problem somewhere at HSBC but they aren't being honest about it! I'm all out of ideas and patience, any other suggestions more than welcome. 

Hermitica

Applied for bounce back loan on 17th May it's now 30th May with no communication from the bank of any use or that involves a human being. I've banked with HSBC for over 20 years. I have a personal and business account, I never go into overdraft and pay all my bills like a good boy should. HSBC from what I have read are actively discouraging applicants and using a range of IT and obfuscatory practices to push applicants onto other lenders. YOU ARE A JOKE HSBC. I've only received a small furlough payment due to taking accountants advice on monthly remuneration and I am relying on the BBLS to cover my lost income and the roof over my family's head. The banking sector needs to obey the people it is set up to serve, it's the most ridiculous case of the tail wagging the dog that persists regardless of the government of the time or the scale of the poop hole the banking sector puts the world in.

Joinery

Luckily I had the BBL account appear on my list of accounts yesterday with the loan amount showing but cannot access the funds yet. I later received direct debit forms to sign. Im not sure if my constant hassling on twitter or emails to the CEO helped but something has shifted somewhere. I just hope I don't have a further 20 days to wait for the funds to become available. 

yozzer61

Applied for a BBL on 22nd May. Got an email to confirm application received immediately but had nothing since. Have tried several times to get updates but they all say the same thing, I need to wait!!!!

AlanBrydon

Type your comment 
21 emails to HSBC and still no body can help. Latest email to complaints manager and copy of webchat with business advisor today.
What chance have you got 

Hello

 

I have now applied for the feeder account, I have my 2019-2020 tax return. I have a personal account with HSBC for identification.

 

Could someone please escalate this application as I have now been trying to access this BBLS for nearly 3 weeks. I am really struggling. I am ready to go back to work the only thing holding me up is funds. I have raised complaints with HSBC, Stuart Haire,  Scott Wilson and my MP and financial ombudsman.

 

Opening the feeder account and accessing the funds can be done in days rather than weeks. Please could you possibly try to make this happen as it is a matter of emergency. I would really appreciate it sooner rather than later. I am close to having to claim benefits, which is crazy as my taxi business is ready to get back to work, its only funds stopping me.

 

I have attached my 2019-2020 self employed tax return.

 

Please could you allocate an advisor within the BBLS application team to oversee the required actions for resolve.

 

Kind Regards

Alan Brydon.

Info: Thank you for choosing to chat with us.  An agent will be with you shortly. Info: All agents are currently assisting other customers.  You are in number 9 in a queue of 14. Thank you for your patience. Info: All agents are currently assisting other customers.  You are in number 9 in a queue of 14. Thank you for your patience. Info: All agents are currently assisting other customers.  You are in number 9 in a queue of 13. Thank you for your patience. Info: All agents are currently assisting other customers.  You are in number 6 in a queue of 10. Thank you for your patience. Info: All agents are currently assisting other customers.  You are in number 1 in a queue of 6. Thank you for your patience. Info: You are now chatting with Dhrupal. Dhrupal: Hi, welcome to HSBC's Business Live Chat Service. We are here to assist you with your query. Please note, we cannot accept your account details on this service for security reasons. Dhrupal: Good morning, how are you today Alan? Alan: Hello I have now applied for the feeder account,(reference ?????), I have my 2019-2020 tax return. I have a personal account with HSBC for identification. Could someone please escalate this application as I have now been trying to access this BBLS for nearly 3 weeks. I am really struggling. I am ready to go back to work the only thing holding me up is funds. I have raised complaints with HSBC, Stuart Haire, Scott Wilson and my MP and financial ombudsman. Opening the feeder account and accessing the funds can be done in days rather than weeks. Please could you possibly try to make this happen as it is a matter of emergency. I would really appreciate it sooner rather than later. I am close to having to claim benefits, which is crazy as my taxi business is ready to get back to work, its only funds stopping me. I have attached my 2019-2020 self employed tax return. Please could you allocate an advisor within the BBLS application team to oversee the required actions for resolve. Kind Regards Alan Brydon Alan: Good morning to you to Dhrupal: Hello Alan. Dhrupal: Can you confirm your business name and business post code please? Alan: ? removed Dhrupal: Thank you. Dhrupal: I will just be a moment bringing up your details to check this for you. I'll be as quick as possible. Alan: Thanks Dhrupal Dhrupal: Can you double check the reference number please? It should be 15 digits. Alan: ? removed Dhrupal: Thank you. Dhrupal: I will just be a moment bringing up your details to check this for you. I'll be as quick as possible. Alan: Thanks Dhrupal: I'll be right with you. Alan: Thanks Dhrupal: Thank you for your patience on this chat. Your application has been sent for checks and there is nothing we require from you at the moment. As one of the few banks accepting applications for Business Bounce Back Loans from businesses that aren’t currently our customers, we’ve been inundated with requests to open accounts. Due to this, there is not a timescale on this. The account opening team are working as hard as possible to process the applications. I can see that your application was fully submitted and sent for checks on the 30th June. At the moment, the team are working on applications from the 13th June. I can also see the complaint you have raised with Scott Wilson. Alan: I am a existing personal customer who applied for the BBLS nearly 3 weeks ago. I only got told by an advisor the other day that I was required to open a feeder account. I am ready to go back to work and this is really holding me up. Could you if possible escalate the process please. Alan: I've sent 21 emails and been into the branch to try and sort this, if you could please help I would be grateful. Dhrupal: I appreciate your loyalty with us. We are unable to escalate application during this time due to high demand with applications. I can see that you have already raised a complaint about this as well and they will look into this. Alan: Like I said I have been waiting 3 weeks now, as an existing customer I am struggling to understand why this has taken so long to 1. let me know I needed a feeder account thus rejecting my BBLS application and 2. Why now its taking so long as I am a existing customer and the government has said this process should take days rather than weeks. I have had to contact my MP. I have kids and have been in lockdown for ******** days now. I need funds to get back to work. Please can you help escalate this, Dhrupal. Alan: Once the BBLS application was declined the agent should be working with me to get everything sorted if their has been a mistake on the application. A new application and then sending it back to the beginning of the process is unhelpful. Dhrupal: Alan, I do understand what you are saying. However, applications cannot be escalated. The only thing you can do is raise a complaint about this to see if it can get done much quicker. You have already raised a complaint about this and you will hear from the complaints team regarding this. Its not that I don't want to escalate the application, it is that we are unable to do this. I am sorry I cannot help you with this on this chat service. Alan: Ok but I understand what your saying but the online forum which has over ******** members now which are dealing with this process and updating their progression, say that it is possible to escalate the application and most of them whom get resolve have had to get their application escalated. This would suggest that it is possible. also when I spoke to the MP she said that there was a way to do this. ? Dhrupal: The information I am giving you is accurate. I have not got a reason not to help you. If I could, I certainly would have done so. Alan: I understand but,I'm an existing personal customer, I have a tax return for 2019-2020 and I have had help through the Scottish government's nearly self employed hardship fund at the beginning of the lockdown and now this is the next step. I fail to see how much easier it can be to access the BBLS. Alan: newly not nearly Dhrupal: The delay comes from how many applications there are. Due to the unprecedented demand, we have not been advised on a timescale due to amount of application. As a result of this, we are not able to escalate applications. The team are working as hard as possible to progress the application and get back to customer as soon as possible. Alan: Look we are just going round and round here. Again that is not my experience. To be honest it looks like there is failings somewhere as other bank are managing fine to deliver the BBLS to their customers. It is widely reported that HSBC is failing to keep their customers up to date with the process and that the process is hampered with delays and problems. Today you have given me no more help than i can find out online. I know the application is in progress. This is a shame as not looking great for HSBC. Lets hope this is resolved sooner rather than later. Dhrupal: I appreciate what you are saying and understand where you are coming from. I am sorry I could not help you with this on this chat service. I hope this does get resolved soon for you. Dhrupal: Is there anything else I can help you with on this chat service? Alan: Can you send me an email with the contents of this conversation please. As i need to raise awareness of this process and my experience with the relevant people. Maybe i can help improve other customers experiences and your job restriction in regards to the level of help an business advisor can advise. Dhrupal: Sure, you can request a copy of our chat by email by clicking the '+' button within our chat window. Info: The chat transcript will be sent to: ? removed, at the end of your chat. Alan: Thanks

 

Thrugelmir

Who do you do your business banking? All the references are to holding a personal account only. 

[Deleted User]

AlanBrydon said:

I am close to having to claim benefits, which is crazy as my taxi business is ready to get back to work, its only funds stopping me. I am ready to go back to work the only thing holding me up is funds. I have raised complaints with HSBC, Stuart Haire,  Scott Wilson and my MP and financial ombudsman.

Just a point on this, what kind of funds do you need to get back to work as a taxi business? If it is fuel or insurance could you not just put them on a credit card for a few weeks or a month? That way you could be back up and running straight away?