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How many people have had bounce back 𝙻𝚘𝚊𝚗𝚜 on here

  • created

    May '20
  • last reply

    Sep '20
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There are 95 replies with an estimated read time of 12 minutes.

Still waiting and waiting three days for reply to messages now. Ridiculous .

The key issue is that Tide is NOT a Licensed Bank. And hence cannot borrow from the Bank of England, like other banks. See the link to the article. So Tide, and others similarly situated, are struggling to get money to lend. This mess is not entirely their fault - but surely Tide could muster their customer base to assist in lobbying (BBB, BofE, Treasury, MPs) so Tide CAN access funding from BoE to on-lend.
https://uk.finance.yahoo.com/news/coronavirus-covid-19-bounch-back-loans-non-bank-lenders-fintech-innovate-finance-treasury-050124218.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAAM1kTK37MpeW4e_XJdifoczuO-KDZ5ozFmax0A0pHjanMoVe8XXYlC210hFYjOj8ZtSVFmEw7k2dBLArb_rxXfCx86pFjrb5r3EYPrpkl-ooGgmSA-Uaf8XNNwkKZO8avC40-6qk4T5VL0DGDiqX8bI38G0Fyz0Wq872tnbuPGnS 17

We lobbied in order to get Tide accreditation. So far that hasn’t done us any good.

I agree. And what is the point of being accredited without access to funds to lend? But I guess the decision is either to pack it in or do what we can to support Tide to get access to funds?

Tide hasn’t said they are lacking in funds. They have continued to say they are working down the list. I agree with you I would happily lobby whoever they need me to in order to help but I think the vast majority would be extremely angry if they were asked to do so again.

But having said I would happily lobby in order to help them as I did for accreditation why should I help if they won’t say if they can help me. I wish Tide all the help and luck in the world but feel they are letting me down massively.

I added myself to the list seconds after it went live and yet I’m still 30 thousand and something.

I don’t know what is going on. That’s the number they gave me today.

I have no idea how many business customers Tide have. But assume 50,000. And assume ALL are eligible for and apply for the maximum £50K BBL. That totals £2.5bn. Yes billion. So clearly, that is nothing like how much BBL capacity is needed by Tide, as many will not qualify for the maximum or even apply. But Tide needs the capacity to lend to all that meet the BBB eligibily criteria. So what capacity to they need? Tide clearly has some funds to lend but they must, like all others, find more funds somewhere. Others can go to Bank of England. Where can Tide go if BofE not open to them? My sense is Tide is trying to access funds and trying to keep its customers “on side” with promises. Maybe a better approach would be to be upfront, admit they do not have unlimited access to funds and give a timeframe as to WHEN specifically they will have enough money to lend to all their qualifying business clients. Anyway, just my view and I am supportive of Tide and willing to assist to ensure they get access to all the funds they need.

That’s not possible they sent a press release a week after registration bragging that 30000 haf registered, so they are just giving peopie random numbers.

Did you get sn email reply saying you are registered. Think we can catch them out here.
What time was your email confirmation?