bounce back loan top up declined.

MattMattMattUK

jonesMUFCforever said:

All UK banks have passed stress tests in last few years - no worries about reserves I think.
The main problem is low interest rates .

They did prior to the Covid recession, I am not sure they all would now ar the provisions for bad debts they are beginning to make are huge. You can also tell with the under valuations and much more restricted mortgage offers that the banks are expecting both a drop in property prices and a rise in mortgage defaults. I do not think any will go under, but they are close to their reserve limits which exist to stop them going under. 

bigbadsoundman

mattyprice4004 said:

bigbadsoundman said:

Why stay with a bank that treats you like S### and nearly puts you out of business?

Because if you close your account, you'll get even less service and they'll have a much better chance of putting you out of busines...

Incorrect actually, maybe read the post before posting stupid emojis 

bigbadsoundman

normanna said:

Just remember, it was as a result of Coronavirus that nearly put you out of Business and not the Bank.  During this 6 week 'fiasco' many bank employees will have been isolating and others moved across to support these loans and many will have had to retrain very quickly while limited staff trying to keep branches open.  Maybe you should have thought of the bigger picture here and unfortunately you have been short sighted in moving your account at this time.

Short sighted?? over 6 weeks of being lied to time and time again and the only way it got resolved was taking it up with the CEO along with hundreds of other customers. Yes understood that it impacted staff but hard to think of a bigger picture when you are about to lose your business, some of who did during the process. 
The aim of this post was seeking advice not open the doors to keyboard warriors. 

bigbadsoundman

Update to those interested.
You DO NOT need to have a business current account, the BBLS team set up a loan holding account to place the top up. They will need 12 months bank statements to prove you are still in business.  Has again taken some time to get to this as Natwest seem to put hurdles in place just for the sake of it as quoted from a support agent before the keyboard warriors jump in. 

jonesMUFCforever

Sounds like you are sorted then - good news for you.