Hundreds of Barclays customers rage as bank’s systems CRASH in the middle of bounce-back loan applications while others are left waiting for up to two hours on the phone
Furious Barclays customers have hit out at the bank after its systems crashed as they tried to apply for emergency bounce-back loans to help them recover amid the coronavirus pandemic.
Applications for the loans, 100% guaranteed by the government, were opened on Monday with Barclays saying it received 200 applications in the first minute.
The bank claimed that thousands have signed up – with the vast majority completing the application.
However, angry customers and business owners have taken to social media in huge numbers to complain that the system keeps crashing and reveal that they have not been paid – despite applying on Monday.
The loans are supposed to be paid into the account of the business in 24 hours.
Several people shared screenshots on social media from the Bounce Back loan application page which read ‘something went wrong, please try again’.
The message some Barclays customers were greeted with when trying to apply for the Bounce Back loan
Applications for the loans, 100% guaranteed by the government, were opened on Monday with Barclays saying it received 200 applications in the first minute
Barclays said it had approved more than 32,000 of the loans as of 4pm today.
It comes a week after Chancellor Rishi Sunak announced the bounce back loan scheme, which allows small businesses to lend up to 25 per cent of their turnover, up to a maximum of £50,000.
He promised a Government guarantee for 100 per cent of the risk the banks are taking in lending the money.
Kenneth Clague told Mail Online: ‘I’ve been trying since 9am yesterday on the Barclays site. I phoned twice with over 2 hours wait, then told nothing they can do
‘It’s very very frustrating. I can not cope with it, have just about to give up. If only they would let us know how long it will take.’
Alastair said: ‘Barclays have put out a lot of info on how many applications they’ve had for the Bounce Back Loan scheme, but their systems have crashed for thousands of customers and they are refusing to admit there’s an issue.
‘Take a look at the Barclays UK Help twitter account and you’ll see hundreds of people who are just getting error screens with no response from Barclays other than to try a different browser.’
Tweeting the bank, another customer wrote: ‘From 9am today up until present time, keep getting error message in relation to the BBL.
‘Thought you would treat us business customers better than you do. Currently its appalling.’
While one simply said: ‘PLEASE CAN SOMEBODY CALL ME TODAY!!!!! 4 hours holding and still nothing!!!’
Customer, Nick, who runs an oil and gas technology consultancy in Berkshire, told the BBC that he started trying to apply for a Barclays loan at 8am on Monday but has still not been able to.
‘I feel incredibly pressured. I have people crying their eyes out,’ he said. ‘The bulk of my people are at home. There are serious mental health issues with the worry about livelihoods and food.’
Barclays UK chief executive, Matt Hammerstein, told MPs on the Treasury Select Committee on Monday that his systems were ‘definitely not down’ but that ‘some who wanted immediate access may not have been able to.’
He said Barclays would ‘throttle up access’ but problems with the online applications have persisted.
A spokesperson for Barclays said: ‘Over the last 24 hours we have approved thousands of Bounce Back Loans to get hundreds of millions of pounds into the hands of small businesses.
‘Since we went live yesterday, the vast majority of our customers have been able to apply online and get same-day approval so that we will have the funds in their account by tomorrow at the latest.
‘There are some exceptions where customers will need to confirm additional details and we’re reaching out to them shortly to confirm next steps.’