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BBL Legal Questions

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  • BBL Legal Questions

    Hi Just want to check on a legal stand with a BBL loan I have taken out for my limited company. Without going into mega detail I setup a new bank account and BBL loan with Metro bank early last month. All seemed fine and then a week after the loan was paid into the Metro Account Metro Bank froze that account. We had at that stage already spent 10k of the loan to get ourselves upto date with everyone and also get us ahead. Now they are asking for lots of information on my account details, who what where and when etc... Basically my life story. I have given what they want but now they are being silly. They want transactions statements from our payment system provider but their statements show the customers full name and personal contact details. Apparently the payment provider said they cannot not remove these from my statements. So firstly can I give these to the bank? Is it breach of GDPR? Secondly surely these checks should have been done by Metro before opening the bank account and providing the loan? I presume they are Know your customer checks but surely they should have been done before. I know an AML check was done before the account as its on my credit file. Thirdly to be honest I am having buyers remorse in taking up a bank account with Metro Bank altogether and actually want to close it now I have started reviewing their reviews online and the problems with them reported by 1000's of other businesses on the BBL forums. I only took it out with them because they could provide a BBL neither Starling or Tide who we had accounts with could offer them because they either ran out of money (tide) or just didnt get back to me (starling) I do however prefer and trust them a whole lot more than Metro. Can I not just close the account and have done with them? I dont trust them as far as I can throw them especially after reading the under handedness reported by other businesses. Is the BBL loan seperate to the MEtro Account? In other words can I close the account but payback the loan as per original terms? Any help welcomed! Thanks
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