July 4th Bounce Back Loans Update

Today I want to give you a quick insight and overview of the main banks and lenders regarding their respective Bounce Back Loan schemes, and any news/updates I have received yesterday about each of them via my Twitter followers and lurkers and my website visitors.

Adam and Company

Adam and Company have just been accredited by the British Business Bank, however if you do not have cash reserves/assets of £1 million at hand then you are not going to be able to open an account with them and go on to apply for a Bounce Back Loan with them.


It looks like the Allied Irish Bank (GB) is accepting new business current account, to open one call 0345 600 5204. It takes them five days on average to payout to an approved Bounce Back Loan applicant. Be aware though much like any bank they can/may suddenly stop accepting new business account applicants.

Arbuthnot Latham

Another bank for the rich and famous, and as such if you have not got a huge stash of cash to open an account with them, then you are not going to be able to apply for a Bounce Back Loan with them. Besides, they are only accepting ounce Back Loan applications from existing account holders anyway.

Bank of Ireland UK

Alas, Bank of Ireland UK are only accepting Bounce Back Loan applications from Business Current Accounts holders who have opened at account with them on or before 4th May 2020. So sadly, you can cross them off your list of potential banks to apply for a business account or BBL from unless you did have a business account opened before that date.

Bank of Scotland

Bank of Scotland are not accepting new applications for a business bank account, however if you have a current account with them and not a business account then you can onboard with Lloyds using the onboarding link HERE,

Just be aware that you must have had that current account opened before the 2nd of March 2020.


I am still getting complaints about Barclays, but nowhere near as many as I did eight weeks ago. They have fixed their website problems, and have been making the promised call-backs, admittedly weeks after they said they would.

As you would expect Barclays are receiving lots of business current account applications now, and sadly that has resulted in them taking up to a whopping six weeks to process them.

However, if you have been using a personal current account with Barclays for business purposes and you are after a Bounce Back Loan give their New Customer Team a call on 0800 515 46231 to discuss creating a business relationship with them.

Clydesdale Bank

One bank worth trying if you want to get a Bounce Back Loan is Clydesdale Bank, I have had many people contacting me who have managed to open up a business account with them in the last couple of weeks and have then gone on to apply for a Bounce Back Loan and get it paid out quickly.


Unless you are rolling in cash, you should forget about even trying to open an account with Coutts. They are of course yet another Private Bank that is not going to allow businessmen or businesswoman with a modest income to open an account with them, based on their initial account opening deposit requirements.

Danske Bank

I have received zero complaints about Dankse Bank but be aware that like most other banks they are only accepting their own business customers only. What I do like about that bank is that they list the email address and even mobile phone numbers of each Northern Ireland branch Manager, so if you do have a problem you can contact the branch manager personally. They do accept new customers from Ireland, and you can apply via their Business Direct Team on 0345 266 6555.


Many people have gone on a nightmare journey with HSBC, much more so those who have applied for one of their Feeder Accounts. They are the worst bank out there by far and as such you should only consider applying for a Feeder Account with them if you have plenty of time to wait and be aware there are no guarantees what so ever that you will be given such an account, even if you have been waiting for weeks/months.

In fact, they have sent out EchoSign forms many times which are riddled with errors, and as that is the final stage before payout, you can imagine the total despair of someone (and there have been 1000’s of them) who has received a dodgy EchoSign and then has to wait for a new one to be sent out before the loan money arrives.


Once again, Investec are one of the much more recently accredited banks/lenders that require a huge initial deposit before you can open an account with them. So, unless you have a huge stash of cash available to open an account with them you have no chance what so ever of getting a Bounce Back Loan with them.

Lloyds Bank

One of the best if not THE best bank out there for rapid processing and paying out of Bounce Back Loans. They are not are not accepting new customers however for business accounts, but I do so hope they will change their minds soon, for if they do the backlog of people still waiting and hoping for a Bounce Back Loan could finally get one and rapidly too.


Halifax are not part of the Bounce Back Loan scheme. However, Lloyds will allow you to onboard with them if you have had a Halifax current account opened before the 2nd of March this year. Use this Halifax – Lloyds onboarding link to onboard with Lloyds.

Metro Bank

One of the game changers for sure, Metro Bank have been firing out Bounce Back Loans since they launched their scheme, admittedly later than the other main banks.

Just be aware that due to demand they are operating an appointment scheme, whereby you need to make an appointments to visit on of their “stores” (branches), and by doing so you will be sent on your way after the appointment if all goes well with your new bank account details, and then can instantly apply for a Bounce Back Loan, which gets paid usually within 24 hours.


I am aware that NatWest have sorted out a lot of their customers with Bounce Bank Loans, however they do have an annoying way of declining people. They are famed for sending out mass emails on a Friday evening, telling people they are not going to look at their Bounce Back Loan application due to them being so busy. They have done that many times in the past and did it once again last night.

You take risks applying with them, and unless you are an established business bank account customers of theirs, then do not pin any hope on you getting a Bounce Back Loan or even a business bank account from them.


The most recently accredited Bounce Back Loan lenders/banks have been Private Banks, and that is what Paragon are, meaning that you are not going to be able to get a bank account with them unless you have a lot of money available to make an initial deposit, so I would forget about applying with them, unless you already have an account with them.


Despite lots of early complaints, Santander have finally started to get much better, and you can open an account with them online and apply for a Bounce Back Loan quickly too. But as always be aware they may change their rules for applying for a Business Bank Account at any minute if they start to get overwhelmed.

Skipton Business Finance

Skipton operate a rathe unique type of business model and as such unless you are a customer of theirs and utilize that invoice advance type of scheme then you cannot apply for a Bounce Back Loan with them.

Starling Bank

You cannot now open a business account with Starling Bank if you are a Sole Trader as they have suspended such account openings. They are also now operating a Bounce Back Loan application waiting list.

Be aware that Starling Bank operate their own additional eligibility test for applicants, and as such if they do not like you or your business you will not get a Bounce Back Loan from them.

Co-Operative Bank

The Co-Operative Bank is accepting applications for business accounts however to get such an account you will have to wait for a longer period of time than normal, due in no small part to huge demand.

Also, if you are one of their personal current account customers who is eligible to apply under the BBL Scheme, then they will let you apply but you will first have to open a business current account with them to then go on to apply for a Bounce Back Loan.


Like many other banks, RBS have suspended their new business account application system, and therefore the only people who can apply of a Bounce Back Loan with them are those that already have a business account with them.


The current laughing stock of the Bounce Back Loan Lenders/Banks is Tide, they only had £50 million set aside to lend as Bounce Back Loans, and as you would expect that soon got used up and paid out. They now have a “waiting list” until such a time they can secure more money to lend out, which is not guaranteed.

To make matters worse, they have now also recently started to email people on their waiting list to tell them their business is not suitable for one of their BBL’s for the reason outlined in the email, which for reference is not mentioned in the email!


One thing to note about TSB is that you can open a business account with them, however when you attempt to do so they will then contact you and tell you that your new business bank account application will be processed, but you have to confirm that to get such an account you will then not go on to apply for a Bounce Back Loan. That is a scandalous way to treat people, so unless you are already with TSB forget about trying them.

Ulster Bank

Ulster Bank, much like their sister bank RBS are not accepting new business account applications, so if you are a customer of theirs then you can apply for a Bounce Back Loan, and they aim to pay it out after 3 business days of you applying and being successful

Yorkshire Bank

Yorkshire Bank is of course a sister bank of Clydesdale Bank, and therefore much like that other bank you can apply for a business bank account online in 15 minutes, but be aware it is taking them a little longer to process new accounts. But once you have been successful in opening a new business account with Yorkshire Bank you can then go on to apply for a Bounce Back Loan.

Been Declined a Bank Account or BBL?

Please read below for some reasons as to why you may be declined a bank account and/or a Bounce Back Loan with some lenders.

Many people who are declined tend to fear it is their credit rating/score that is the cause of a decline, and whilst that can and may play a part obviously, there can be a whole host of other reasons, some of which can be sorted out, and when the latter is the case you may find it much easier to open a bank account and/or obtain a Bounce Back Loan.

Some Lenders can and will and are in within their rights to decline anyone for an account and/or BBL based on their own criteria in additional to that laid down by the British Business Bank.

With that in mind, if you have checked all of the following and/or have been declined by one lender then you are also within your rights, and encouraged to apply to any other lender that is part of the Bounce Back Loan scheme.

Potential reasons not relating to credit score/rating

SIC Code – not matching on companies house vs application.

SIC Code – considered a reputational risk – you would be surprised how many business types fall into this category.

Directors/owners name not matching companies house and/or

Voters roll e.g. Chris vs Christopher, is middle name included etc

Business address not matching, has accountant used their address for registered? What is your correspondence address at companies house?

Business name not matching e.g. Ltd v limited

Recent changes of directorship and/or ownership – red flag at the moment due to BBL fraud

Markers registered against the company or director

Previous financial relationship with the bank or one its subsidiaries that did not end well



Many Bounce Back Loan applicants that have been through hell and still are experiencing problems have been offered compensation, ranging from £50 up to £2500 for the more complicated problems.

It is your choice as to whether you a accept any offer of compensation and the amount you accept too.

Bank and Lender Updates

Be aware things can change in an instant at any bank and as such I will now give you an overview of how things are going with each bank, and let you know how and where to contact if you want to try and chase up your Bounce Back Loan application and find out where things stand with each bank.

Each bank will have their own criteria for opening accounts, and some lenders also have their own set of rules regarding who they will allow to open an account and/or apply for a Bounce Back Loan.


They appear to have now launched their online Feeder Account Portal, which hopefully does away with the exceptionally long and drawn out process for applying for such an account.

Many people who had previously applied for a Feeder Account are still waiting for their call backs to set up the account, and/or to receive all related documents and many people are still waiting for payment.

HSBC Feeder Account Portal Link

Be aware many people have been declined for such an account when using that portal, and also when they have applied for a feeder account during the telephone interview for such an account.

Link to the HSBC BBL section of their Website

Useful Email Addresses for Contacting HSBC:










Lloyds continue to do what they do best, process, and pay out BBL applicants quickly and with no fuss or hassle.

Be aware that if you hold a Bank of Scotland or a Halifax or Lloyds personal bank account you can use the Onboarding Portal to get a Lloyds Business Account and then can apply for a Bounce Back Loan.

Be aware though the dates listed on the website, as you will have had to have a personal bank account in operation before those dates to be able to onboard with Lloyds, if you have opened an account after the dates you will not be able to use that onboarding system.

Halifax, Bank of Scotland and Lloyds Onboarding Link

Lloyds CEO Email Address


Metro Bank

Metro Bank have now launched their Bounce Back Loan scheme, which is a sight to behold.

Due to the speed at which applicants are processed, and the rapid pay-outs too, many people wish they had an account with them, as their Bounce Back Loan journey would be an easy one for sure.

Metro Bank will let you register an interest in opening an account with them online and they will then make contact with you to arrange an appointment in one of their banks or ”stores” as they like to call them. Click Here to register for a Metro Bank account.

Applicants simply join an online queue and when it is their turn to apply for a Bounce Back Loan (which can be after a few hours), they then fill in the application form and once done they are then either approved on the spot, declined or told whether any additional information is required.

The feedback from many people is that Metro Bank are the game changer, as unlike most other banks people get to know at the end of their application their fate, without having to wait for days or weeks to discover what is going on with their application, as has been the case with other banks.

Visit the Metro Bank BBL Section of their Website

Email the CEO of Metro Bank Dan.frumkin@metrobank.plc.uk


Tide have run out of money to lend and are desperately scrambling around trying to raise more to increase the number of applications they can process, as such you can expect a huge delays before any application you have put in will be processed.

Visit the Tide BBL Section of their Website

Co-Op Bank

To be fair to the Co-Op not many people have been complaining about them, I have had a few here and there and some have been sorted out but every now and then I get someone appearing and asking for help.

Co-Op Bank CEO Email Address


Visit the Co-Op Bank BBL section of their Website

Yorkshire Bank and Clydesdale Bank

I get the odd complaint about both Yorkshire Bank and Clydesdale and it is always worth checking out their respective BBL sections of their websites for updates, seen reports of those banks taking applications for new bank accounts by the way, but check that out as it can change at any time.

Visit the Yorkshire Bank BBL section of their Website

Visit the Clydesdale Bank BBL section of their Website

Yorkshire Bank CEO Email Address


Clydesdale Bank CEO Email Address



I am still getting all manner of weird and wonderful complaints about Barclays, it does appear though that many applicants now fly through their Bounce Back Loan system, but many are still experiencing problems with applying, getting paid and contacting the bank.

Visit the Barclays Bank BBL section of their Website

Barclays CEO Email Address


NatWest and RBS

The usual complaints about NatWest and RBS, including poor communication, problems applying for a BBL and even people being declined. Once again you need to start haranguing the right people to have any chance of your problems being resolved.

They have been paying many applicants out obviously, so if you do manage to have a hassle free experience then you should get paid out fairly quickly, even if it is not in the time scale you had hoped for.

Be aware that you may apply, not hear anything and then out of the blue get an email saying they are so busy your application is being dumped and not looked at.

Visit the NatWest BBL section of their Website

Visit the RBS BBL section of their Website

NatWest / RBS CEO Email Address



Much like some of the above banks Santander have attracted plenty of complaints, but in all fairness many followers, and many long-time ones too have found emailing their CEO does get a response and their claims processed quickly. They too have also been dumping applicants via a mass cull type of email so be warned.

Visit the Santander BBL section of their Website

Santander CEO Email Address


Starling Bank

Starling Bank operate a waiting list type of system, however, be aware they have additional criteria of their own as to whom they will supply a Bounce Back Loan to. Therefore, there are no guarantees you will get a loan from them. They have declined many thousands of applicants.

Visit the Starling Bank BBL section of their Website

Skipton Building Society and JCB Finance

Both Skipton Building Society and JCB Finance (who have just been accredited) operate a different business model than most mainstream lenders so you will need to check their respective websites to find out more about what they have on offer to applicants.

Visit the Skipton Building Society BBL section of their Website

Visit the JCB Finance BBL section of their Website


You will be asked to sign away your rights to be able to apply for a Bounce Back Loan if you try to open a new account with TSB. As such do not waste your time trying to get such an account with them if your intention is to apply for a TSB Bounce Back Loan.

Visit the TSB BBL section of their Website

TSB CEO Email Address


Other Bounce Back Loan Lenders

The following are other Bounce Back Loan Lenders, be aware I receive very few if any complaints about any of the following.

Visit the AIB BBL section of their Website

Visit the Bank of Ireland BBL section of their Website

Visit the Danske Bank BBL section of their Website

Visit the Ulster Bank BBL section of their Website