The Bounce Back Loan Scheme (BBLS) was separate from, but similar to, the Coronavirus Business Interruption Loan Scheme (CBILS). Both loan schemes lent money to businesses via lenders accredited by the British Business Bank. Post Office or PayPoint location – you only need your Tide card.
Small businesses could be eligible for both schemes, but the Bounce Back Loan Scheme aimed to help small businesses borrow smaller amounts more quickly, and with more generous terms. made on weekdays are usually processed within a few minutes. Deposits made late in the day, on a weekend or Bank Holiday, can arrive in your account on the next business day.
You can read more about the difference between CBILS and BBLS on the British Business Bank’s website.
£25,000 per single deposit
£25,000 per month
£300,000 per year into your Tide account.
You can make multiple deposits, but the combined amount can’t be above any of the listed limits.
The Post Office have their own limits, and above amounts may vary from branch to branch.
Fees for deposits made at a Post Office:
£2.50 for a deposit of up to £500
0.5% of the deposit if over £500
PayPoint deposits made on weekdays are usually processed within 10 minutes. Deposits made late in the day, on a weekend or Bank Holiday, can arrive in your account on the next business day.
The minimum amount you can deposit at a PayPoint is £10, and the maximum is £500 per day.
Fees for deposits made at a PayPoint:
Important: All cash deposit fees are deducted automatically, at the time of processing. The amount you’ll receive in your account is your deposit, minus the fee.
