Everything you need to know about applying for a Bounce Back Loan with HSBC.
(Everything You Need To Know About Applying A Bounce Back Loan with HSBC)
Have you had a problem with HSBC and your Bounce Back Loan.
HSBC is one of the few banks allowing NEW customers to open a bank account. Thats essential to getting a loan you must have an account with the bank you want to borrow from.
I tried to get an account with HSBC and was plagued with problems, despite banking with them for over 30 years. It took 3 months for me to try and open an account with HSBC as my bank was not part of the Bounce Back Loan Scheme.
It turned out HSBC were overwhelmed with applications and were declining more people than they were accepting.
So who should be applying for a bounce back loan with HSBC?
I recommend those businesses that already bank with HSBC to apply there. The reason is they have a history on your business, in fact if you have an account you can just apply from within your online banking.
Its super fast for existing clients and the money can be with you in less than 24 hours.
Who should not apply with HSBC for a bounce back loan?
If you don’t have an account with HSBC already I suggest you try another bank. HSBC is struggling to keep up with demand and you might miss the window of opportunity to apply for a loan.
If you need to open a new account, I would suggest looking at Starling Bank or Metro Bank. These two banks are taking new clients and coping with the heavy demand.