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I was given access to the loan 3 days ago but when i tired to make a the first payment out of the account it was stopped for “security” reasons now a few days in and Tide are still no closer to releasing the funds.

I have had to provide endless amounts of proof that I have been trading i.e sent invoices and invoices I have received, prove I have a internet presents etc. But instead of asking me for all the information needed in one message this had been going on for a few days due to the lack of communication from Tide. Hours or even days before another message.

I can understand how busy Tide must be, but surely dealing with a few cases at a time has got to be quicker than trying to handle endless amounts and making everyone wait days for a reply and feel like there is never going to be access to the loan.
I personally have had two people trying to resolve my issue despite me sending information across within minutes of a new message I still wait hours to days for a reply it’s so frustrating.

As it stands I have a broken down van witch I gave the garage the go ahead for repairs once I had seen the BBL in my account but now no way to pay the garage because Tide are holding the money back.
I have new customers waiting for me to start jobs with no way to buying equipment for them so will most likely lose the work now as i’m taking to long to get started.

Has anyone else had similar problems if so are you any closer to using the loan?

  • created

    Jun '20
  • last reply

    Jun '20
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Not sure I understand the issue re Tide. Surely when you signed the SELF CERTIFICATION that is all that was needed??

I thought the same thing, but it would seem not.

I can see the money but cannot transfer from said account, I have provided all Information that I have been asked for but as most know communication is horrendous with Tide.

What is concerning me is that if Tide decide that the information I have given in not good where does this leave me? Because technically I have been given the loan…

the worst case, is a tactic to delay all the customers with delayed messages, the good case is the don’t have a clue what are they doing in the office, we need to mitigate so they can open a bloody call line for urgent matters like account blocked, i need to cash in some invoices but i prefer not in case my funds get stuck, and i’m not the only one

I completely understand your concerns, I too wouldn’t be putting any money into a Tide account right now.

I will be looking to move my business elsewhere I think, It’s times like this that shows what companies are like and when they are needed most they seem to do nothing.

I find it so frustrating replying to a message literally minutes later and then waiting hours/days for a reply.
I mean where do these people disappear too?

Totally goes against the self certifying, i will surely not be using or putting any money into tide what so ever. Far too many complaints and no clarity with copy and pasting replies.

I do not know if I understood you correctly regarding FIRST payment but DO NOT split loan withdrawal!!!
If you have £50k and you witdraw say £30k as “a first payment” then remaining £20k is gone.
Apparently what you got is the “available credit line” but you actually get what you draw from it and you are allowed only one withdrawal.
Internet is full of stories of people who wanted to split loan into smaller chunks and are now in desperation.

I was offered on the available credit line what i needed, the funds was then available in my account but as soon as I tried to make a payment the account was stopped and i’ve been having to go through a lot of security questions about my company, witch in my opinion should have been done before or during the application. But instead I have money witch I cannot use and a messenger service that is hit and miss. I reply in minutes they reply in hours/days.

That can’t be correct surely? You drawdown as and when required, it is a loan after all, the rest of the money doesn’t magically disappear?

I’m not sure about that as I haven’t had that problem, But from other online post’s it seems that is what is happening

Mate tbh I’m not entirely suprised.

website looks like it’s been set up in the last week and this can be tracked, company accounts show 0 turnover and assets by way of directors loans and the person with significant control is called Joseph not Andy

Not saying that anything untoward is going on but if I was working for any anti fraud team I would be equally suspicious.

Seemingly there have been a lot of people trying to get funds through almost dormant Ltd company’s which is kinda not surprising but a bloody pain for anyone who Is desperate this help is meant to reach, those with real businesses who may not be able to feed their families & are currently stuck in limbo with lively hoods that may go down the pan.

I hope whatever the case everything manages to get sorted so the genuine people in need of help get it soon.

This is not good news ! Ive been waiting to get the BBL and still waiting. This new information about the provision of all sorts of documentation is not fair - not when the guidelines are clear and other banks aren’t putting their customers through all this.

Is there anyone out there still waiting to access the loan?

Another Ltd just found

Set point refrigeration DORMANT company with an Andy as the director files accounts on April 26th

Not sure I’d be all that surprised tbf. Lol

My last accounts was dormant not that you need to be digging into the company and putting it on a post.

We are now working with 2019-2020 and FYI I have started trading as a one man band from last summer. So yes my site is very basic, as most of my work is thought word of mouth.
Not that any of this matters I am still a company in need with a family to feed and a house to pay for.

My topic is asking if anyone one else was having problems like this… So i can try to work out a time frame

All I was alluding to was it’s not all that surprising given the info that’s readily available to be searched online company is dormant and the website went live very recently.

I’m not suggesting you’re not in operation or indeed genuinely in need of the money but you can understand why this may flag up in their (tides) position & this info may calm the nerves of others posting above that this was not the average scenario.

I hope you manage to get it all sorted and I’m sure you’ll get there.

It’s a hard time for everyone in the business world that’s for sure.

Goodluck with it

I applied 8 days ago and uploaded all my documents. Yesterday I emailed them as I haven’t heard anything and the App page is frozen. Got a reply by email saying that they cannot find anything in my name or email address. Where have my documents gone? Why can’t they find any info of me on their system ? Very worrying

The website has been up and running from last year I paid cheap money for it so I can’t expect it to be the best but it’s still a new company and this is all still very new to me. Granted I have picked the wrong time go self employed but what can you do.

I can see where you’re coming from and appreciate I didn’t take your point into consideration.
I just don’t understand how the money looks like it’s in my account but yet I cannot access it, surely all these checks should have been done before hand. And i’m now worried that it looks like I have been paid the BBL to other leaders in witch case what happens to me if they then decide I haven’t met there criteria, would this mean I cannot try anyone else?

I hope so too .

thank you

Andy apology if you feel I over stepped the mark there I was really just trying to add some context for everyone else as every situation and process will be very different.

I hope you get sorted.

This seems to be another subject all together, not getting any conformation from Tide.
I also sent a number of emails of proof with no conformation they have got them.

The problem I can see is that a number of people would have done the same thing to the same email address so I would guess lot of paperwork has been lost

In regards to your questions I’m sure once tide are satisfied or they have what they need it shouldn’t be a problem.

Good luck again let’s hope we all manage to bounce back