Santander

Having approved a customer for a Bounce Back Loan on the second day of the scheme going live, and having let them draw it down, and then allowing them to top it up 7 months later, one would imagine Santander were happy with the BBL customer you will learn about in today’s complaint. That was not the case, for after one of their now infamous “reviews” that customer had his BBL snatched back based on […]

Due to the fact that Bounce Back Loan lenders could ultimately decide who they would lend money to as part of that scheme, and as many of them would only accept their own customers, lots of business owners missed out on getting one, or were forced to spend […]

With many people currently still being asked to provide all manner of additional information about their business by different banks, long after their BBL was approved and drawn down, today’s case is quite apt as it gives an insight into how the Ombudsman decided, in her opinion, Santander were right to snatch back a BBL from a  Sole Trader who didn’t supply the requested information. For the record, even this week many people are reporting their banks are asking for additional information under the guise of “safeguarding” or ongoing “KYC”. If you […]

Here is a recent case that landed on the desk of Ben the Ombudsman, it related to a Santander customer complaining that the bank would not give him a Bounce Back Loan. Ben states the reason for that is Santander carefully chose who they permitted to apply for and get a BBL with them to ensure full eligibility checks could be carried out. […]

Today’s case that resulted in Santander snatching back and ultimately cancelling a BBL revolves around questions about a business’s turnover and red flags raised by transfers out of the business bank account from Bounce Back Loan funds. […]