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PostPosted: Thu May 07, 2020 6:33 pm 
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The British Business Bank expects to accredit more lenders over the coming weeks but has not confirmed how many have applied.

Why over the coming weeks??????

They should have been onboard from day 1.

No excuse for them not being. [-X

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PostPosted: Thu May 07, 2020 9:05 pm 
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Sussex wrote:
Quote:
The British Business Bank expects to accredit more lenders over the coming weeks but has not confirmed how many have applied.

Why over the coming weeks??????

They should have been onboard from day 1.

No excuse for them not being. [-X

Take it no word back from HSBC, then?

Me neither, so that's three full working days, but looking around the web there's obviously a lot of HSBC applicants in the same boat.

But as far as I can tell HSBC the only bank entertaining applications from external customers without asking them to open a business account, so presumably more applicants than the other banks, thus taking longer to process them all.

So I suspect they're prioritising applications in this order:

- existing HSBC customers with *business* account

- existing HSBC customers with personal account used for business purposes

- new applicants who have been banking elsewhere

But who knows? We're in the lap of the gods, as per...


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PostPosted: Thu May 07, 2020 9:51 pm 
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We are in the lap of the gods but we bloody well shouldn’t be.

Not heard back from HSBC, but not surprised as I really don’t like them anyway.

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PostPosted: Fri May 08, 2020 10:06 am 
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Sussex wrote:
We are in the lap of the gods but we bloody well shouldn’t be.

Not heard back from HSBC, but not surprised as I really don’t like them anyway.

Read it and weep :badgrin:

Didn't know it was a holiday in England today, so I assume the banks won't be working? So it'll presumably be well into next week now before we get the money (assuming we're successful 8-[ ).


Bounce Back: HSBC redefines 24 hours

https://ifamagazine.com/article/bounce- ... -24-hours/

Emergency measures to assist small businesses during COVID-19 crisis seem to be a mess - just when clarity needed most... Paul Wilson reports...


HSBC in disarray on Bounce Back Loans:

https://ifamagazine.com/article/hsbc-in ... ack-loans/

More from Paul Wilson on the ongoing debacle...


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PostPosted: Wed May 13, 2020 4:40 pm 
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Had an email back from HSBC basically saying yes and sign on the dotted line.

For reference HSBC is not my main account, and I don't have a business account with them.

They accepted the pdf version of my last tax return that I downloaded from the Government Gateway, via free Soda pdf downloads.

So folks that have business accounts are getting the cash easy, it appears that non business account holders (at least from HSBC) are getting the cash, all it needs is for someone to confirm acceptance from a bank that they have no accounts with.

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PostPosted: Wed May 13, 2020 5:36 pm 
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Not a peep from HSBC so far, although from what I've been reading online they're really just starting to get their act together, so I'll not start getting really annoyed until the end of the week.

But I've had a personal account with First Direct (which they're treating as the same as an HSBC one) for about thirty years now, and it's been my only bank account since then. So although I've not got a business account with them I'm a bit annoyed at reading elsewhere about customers with other banks being approved loans.

To be fair, though, they're the only bank (I think) offering loans both to personal account holders AND customers of other banks, so although they seem to be the worst in terms of communication and timescales, it's a bit unfair to compare them to banks only offering the loans to existing customers with business accounts (in which case the 'due diligence' etc is already done, so it's all a formality, and they don't have nearly the volume of applicants to deal with).

And looking at some of the stuff online it's all getting a bit too much for people, claiming that it's making them feel ill, they're teetering on the brink etc. And except for those with business accounts whose banks are offering the loans, it's all making HMRC's self-employment grant scheme seem quite straightforward.

Anyway, think I've said enough about the self-employment grants and bounce back loans, and my personal circumstances, so not planning to say much more about either :-#


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PostPosted: Sat May 23, 2020 7:51 pm 
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Called HSBC on 5th May. Told to expect a callback in 3-5 days. Called again last Friday, told it would be escalated with urgency. Called on Thursday this week, told they are not giving any estimated timescale.

May have to put the house on the market soon! :cry:


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PostPosted: Sat May 23, 2020 7:53 pm 
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cabbyman wrote:
Called HSBC on 5th May. Told to expect a callback in 3-5 days. Called again last Friday, told it would be escalated with urgency. Called on Thursday this week, told they are not giving any estimated timescale.

May have to put the house on the market soon! :cry:

Might be worth emailing your MP.

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PostPosted: Sat May 23, 2020 8:26 pm 
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cabbyman wrote:
Called HSBC on 5th May. Told to expect a callback in 3-5 days. Called again last Friday, told it would be escalated with urgency. Called on Thursday this week, told they are not giving any estimated timescale.

May have to put the house on the market soon! :cry:

They called me this afternoon with a question about my application. That's the first I've heard since applying on the 4th.

HSBC seem to have a huge backlog. Suspect (as I said at the time) that because they're accepting applications from personal account holders (who don't use a business account) and also from customers of other banks (think they're the only bank doing so) then they're taking longer than other banks to get on top of it all.

So I wouldn't lose hope yet. I've not pursued it because cash is really for later in the summer, in particular my three-year licences and insurance. And I'm sure there are people needing the cash more urgently, so I've just left them to it and gone with the flow.

But the whole thing's a complete shambles for many people.

Have a read of this twitter account if you haven't seen it:

https://twitter.com/Bounce_BackLoan/with_replies

(If you don't have a twitter account that may not work, but this below might, but you won't be able to see all the messages.)

https://twitter.com/Bounce_BackLoan

Some people have also been having success directly emailing the HSBC CEO.

Apparently his address is noelpquinn@hsbc.com


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