Problems with Metro Bank Beginning to Surface

It is Metro Bank that many people are now pinning their hopes on getting a BBL from as they have now re-opened both their online new account application system and in some cases can instantly approve you for a new account.

If they do open a new business account for you, that then gives you the ability to apply for a Bounce Back Loan straight away and you could be approved instantly for a loan and payment is often with 24 hours, but can be longer arriving dependent on whether your application is processed in time for the next payment run.

Anyone experiencing a “white screen” message error or any other Metro Bank error message or problem click here for some possible workarounds.

As it stands Metro Bank do give you a message at the end of the BBL application saying you should be paid in 24 hours or at the end of the next working day (if you are approved), that is NOT SET IN STONE. I have seen them pay many of my followers of my Twitter Account in 24 to 48 hours. You may get a message at the end of the application saying that your application is being reviewed and that could take a few days to be completed.

Some people are still waiting for payment however after 48 hours and that can cause people to worry, so just be aware it can take longer than 48 hours to get paid out your loan sometimes.

Plenty of people have already been approved and paid:

Be aware though I have started to see some people being declined or having their accounts locked after being approved and after being paid, not a huge number but several people have reported such.

This is the response from one of those affected:

Before Metro Bank reopened their online systems the only way to get an account with them was to make an appointment with a nearby branch (or one several miles away) and have an interview with a staff member.

Many people attending such appointment have gone on to get a business account and could then go on to apply for and get a Bounce Back Loan from Metro Bank.

However, they did have a track record for declining accounts if they did not like the market sector your business operated in, whether that is why some people are now suddenly finding their BBL approvals being turned into declines and having their accounts locked does remain to be seen.

Here are some older tweets and messages of mine that confirm this:

I also did a quick check of my older tweets to help me understand any possible declines with Metro Bank and found this one.

I did also found this one:

If you are on the Tide Waiting list and you suddenly get declined with Metro Bank and you suspect or are told it is due to you being on the Tide waiting list, make sure you have proof off Tide that you never got a BBL supply it to Metro Bank and the decline should/could be overturned. I have been warning the British Business Bank about this problem continually for weeks/months they seem not to care.

Tide’s Official Response to Their Problematic Waiting List

I have been banging on about the Tide waiting list for quite some time. In a nutshell if you are on that waiting list, and keep in mind they have no money to lend out, then you are likely to find that when you apply with another lender for a BBL you may initially get approved, but during the final checks, those being inter-bank checks some lenders will then decline you for being on that waiting list.

The reason for approval but then a decline is that other lender sees your name upon that waiting list as a BBL in progress, not simply being on a waiting list. Below is a tweet I sent to Tide and their official response about this situation:

Be aware though that despite what they are saying, people after July the 13th applying with other banks have still been declined for being on that waiting list.

If you find for example you get approved by but then are declined by Clydesdale Bank Yorkshire Bank or Metro Bank you will need to ask Tide for proof you have not got a BBL from them and supply that proof the respective bank to get the decline overturned.

This is madness but sadly it is something you need to do, as for who is to blame, well the British Business Bank do have Tide listed as an accredited lender even though they have no money to lend out, Tide have, or state they have told the British Business Bank about the problem with their waiting list and other lenders, but other lenders appear not to have been told hence them still declining people solely for people being on the Tide waiting list.

Conister Update

Despite sending out a mass email telling everyone they had no more money to lend out, Conister do appear to be processing those applications they have received, and I have had some Twitter followers tell me they have been approved and paid out.

I have also had many followers tell me they have signed the loan agreement and then still been declined.

As to what to expect if you are still hoping they will approve you are all manner of ongoing requests, such as you taking selfies of yourself holding your passport and/or a bank statement, they may ask you to fill in the loan agreement and then ask you what business marketplace you operate in.

Others further along the process get asked to fill in a direct debit mandate, which will of course will be sent to the bank where the repayments for the loan will be coming out of.

I have given up with them as they are doing things by hand in appears and that means those waiting or confused about what is going on are going to have a long wait to find out their fate, which is sad as the clock is now ticking down to the end of the Bounce Back Loan scheme and people really do need to know what is what with each lender.

Applying for a Bounce Back Loan

If you are new here and are looking for a list of banks that are accepting new customers then click HERE.

CEO Email Addresses

One way to get some action or some form of update from a bank when you have been waiting a long time for a BBL or bank account (including feeder and servicing accounts updates), is to contact the CEO of the bank and a full list of CEO email addresses are on this page of the website