There was a very mixed bag of results regarding Bounce Back Loan pay-outs and applications yesterday. One thing I have learnt over the last five weeks is that the weekend c be an even more stressful time for many of you out there, and that was certainly the case yesterday, and sadly for many that will also be the case today too.
The good news is that people continued to get paid out their loans yesterday, and many people also received their EchoSign and similar documents too. So do not give up hope if you are still waiting for yours, as it will eventually arrive and could do today.
It is however still and alien place we all find ourselves in currently, for you are going to be sat there wondering should I email my case handler or the CEO of your bank again, in the hope someone replies, and if you do you will be praying and hoping that they reply with good news.
Just be aware that sadly it is a waiting game, and you need to ride this saga out. However, you do need to chat to others in the same boat as you or someone who has gone through a entire BBL application process and has received their loan, as their advice and much more their support will help you remain sane.
With that in mind I have set up a thread on the Twitter feed that is going to allow you to meet and chat to others in the same boat as you, I have done this in the past and believe me, being able to just DM someone and chat to them will help you make sense of things. The link to that thread and its introduction is below.
Help and Support Thread
“Listen, I am getting quite a few DM’s, they are worrying me seriously worrying me. If any of you are prepared to chat to people in a very, very dark place put “I’m Here” in this thread. If you are in a dark place, please pick a follower in this thread to DM and chat to PLEASE.”
Listen, I am getting quite a few DM's, they are worrying me seriously worrying me. If any of you are prepared to chat to people in a very very dark place put "I'm Here" in this thread. If you are in a dark place please pick a follower in this thread to DM and chat to PLEASE.
— BounceBackLoanExperience (@Bounce_BackLoan) June 6, 2020
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.
Be aware many people have been declined for such an account when using that portal.
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.
Lloyds CEO Email Address
Metro Bank still have not launched their scheme (at the time of compiling todays news update), but that could change at any time.
Tide are still causing mass confusion regarding their “waiting list”, when you apply you are allocated a position on that list, which dependent on which support team member you ask for an update, you will either be informed that your list position doesn’t change, it will change or there is no list.
Utter chaos, and their CEO is apparently going to make an announcement next week regarding how well Tide are progressing. Lots of followers and lurkers waiting to get apply by the way.
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
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.
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.
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.
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.
Santander CEO Email Address
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.
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.
Not that many complaints about TSB however if you do have one the CEO’s email address is below.
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.