What to write about today….
Clydesdale and Yorkshire Bank
Well I am still seeing people declined by banks such as Clydesdale and Yorkshire Bank for being on the Tide waiting list, so once again, if you were on that now closed waiting list get written proof you are off it if you are trying for a BBL with either of those two banks, as you will need it to get a decline overturned.
They have attempted to assure everyone the problem no longer exists, but it does whether they like it or not.
To put your mind at rest Clydesdale and Yorkshire Bank are overturning declines once proof is supplied.
Metro Bank are still doing their own thing, remember that they may decline you for an account if they do not have an “appetite” for your business type.
Oh and HSBC and their “feeder accounts”, just be aware there is a huge wait to get one and you do run the risk of being declined if you apply, most common complaint is being “stuck” at the same stage on the progress bar on the online portal. If you are stuck then fire off an email to Noel Quinn or Ian Stuart and ask for assistance, you will find all Bank CEO addresses HERE.
Approved BBL Figures
I have had a bee in my bonnet about the weekly approved Bounce Back Loan figures, as you may be aware they were released each week on a Tuesday at 09:30, and gave an insight into just how many BBL’s has been approved, the total value of BBLs’ paid out and how many applicants had applied for one to date.
That information was always valuable, and if nothing else proved that the number of approved Bounce Back Loans each week was falling in number week after week.
However, it has been decided to stop releasing those figures each week, and instead they would now be released monthly, one could say to save some face and hide the fact banks are on average now only processing 4 Bounce Back Loans per hour each.
Having harangued the Treasury Committee, HM Treasury and the British Business Bank for the figures to be released weekly again, two of those entities replied to me, the former saying:
The latter saying:
Oh and HM Treasury have not responded.
I did grab the chance as the British Business Bank were responding to my tweets yesterday to ask them this:
However, they then went all shy on me again. Maybe that £51 million fell down the back of the sofa and will turn up.
Conister, what to say about the newly accredited Bounce Back Loan lender Conister. They are making “teething mistakes” and ones that all other banks have made when they launched their respective BBL systems.
I ran a quick poll on my Twitter account yesterday just to get a small sample of applicants (146 applicants by the way at the time of taking the screenshot below) and find where they are up to regarding their applications, below is the outcome of that poll.
If you are wondering what my opinion is on Conister, based on what I have seen played out before me having been at this for 4 months now. Well, either mass declines are soon going to be fired out possibly with no reason given or possibly some magical extra bank specific criteria not so far published anywhere, or some form of “waiting list” or “interest list” could be forthcoming.
They could of course be a Knight in shining armour that has swooped down to ensure no one is left out of the Bounce Back Loan scheme, and process and pay out everyone, but why on God’s green Earth would a nondescript little bank on the Isle of Man and one most people had never heard of until the other day do such a thing when much bigger banks have so far failed to do so?
That leads me onto wild conspiracy theories, now, be aware I always like to go off facts and/or figures and ones I have either seen with my own eyes or things I have heard “from the horses mouth” so to speak, so always be aware of people appearing who simply say “Conister told me this, Conister told me that”, much more so if they do not provide any verifiable proof.
Some conspiracy theories that I am hearing include a deal has been done behind the scenes with the BBB or the Gov to allow those who are eligible for a BBL but have been excluded by other banks, to get one with Conister, or it is all a mass fishing exercise that strangely coincides with the accountancy firm audit into BBL’s announced the other day!
However, as I say conspiracy theories are just that, and we need to deal with cold hard verifiable facts and figures, but as it stands and from what has been played out in front of me for the last four months, sadly there is no doubt in my mind some people are in one way or another going to be disappointed with Conister at some point in time.
Remember, I did ask them, when they launched a few simple questions, that would save a large number of people stressing out and worrying too much, they have chosen to ignore those questions, that is of course their right.
For the record, I do so love being proved wrong, so let’s hope I am on that.
The facts are they only launched last week, they have a tiny team working on BBL’s, they have a reported £10 million available for BBL’s (I have asked them to verify that figure but as yet no response) (can be increased obviously) which based on the average BBL being £30k that is 333 BBL’s, and with a Friday and Monday Bank Holiday on the Isle of Man (where their HQ is based) and the weekend just gone its still a tad to early to expect them to start firing out any payments but if they are going to do so it wont be too long now.
I will of course be updating everyone on Twitter and on this website as more info is fed to me regarding the way the BBL scheme is progressing with Conister, if you have an applicant in, and I am more than aware a huge and growing number of you have, let’s hope you get approved.
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.
Thanks for the Donations by the Way
If you want to help keep me and this place going and can throw a few bob in the donation tip jar it is appreciated. Asking for donations was not my initial aim when I launched the Twitter account or the website, however they have both taken off and both are now consuming a lot of my time.