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Bounce back loan

My tiny company took a BBL last year through our business acc TSB. We then changed bank so are no longer with TSB. I want to set up a dd to pay monthly  bbl payments but TSB say I have to open a full business acc to then have an LSA acc.  Surely I can just make payments to TSB with a company reference? Just like you do when you have to pay HMRC. I don’t want the faff of setting up a business acc with TSB. Can anyone advise! 

Comments

  • Grumpy_chap
    Grumpy_chap Posts: 17,067 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Combo Breaker
    What are the T&Cs of the BBLS?
    At worst case, TSB could ask for immediate and full repayment of the BBLS.
    Why did you change business banking away from TSB at this time?
  • We changed due to several factors - costs, poor customer service, inability to log into our business account for nearly 2 weeks [which had worked well for 3.5 years] that TSB couldn't resolve and closure of the local branch - nearest branch is 30 miles away.
    It was like a perfect storm.  
  • Grumpy_chap
    Grumpy_chap Posts: 17,067 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Combo Breaker
    What are the T&Cs of the BBLS?
    At worst case, TSB could ask for immediate and full repayment of the BBLS.
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