Director Loan - Original Bank Statement not available

[sgdxb]

Hi All,

I have transferred director loan in 2014, that time my business and personal bank statements were online, I was not receiving paper statement. I thought bank will give me original statements when I require them. Today, a week after making a request, I received copy statement for both accounts from bank printed on both side of plain white paper along with a seal (like Hallmark and not stamp) containing wordings “certified copy” with bank logo & name, some number and date.

These statements are not online/electronic statements, they are printed by the bank but on plain paper and not on “Bank Stationery”. So I think those supplied by bank do not meet HO criteria.

Bank staff has declined to put stamp on the statements. In past I got statement stamped but now it seems difficult. What shall I do?

Guidance is silent on the BS requirement in case of extension. From Guidance it is not clear that requirement for business bank statement for DLA is same as the personal bank statement in case of 1) initial application for availability of funds and/or 2) maintenance fund.

According to Guidance para 137, “If you have made the investment in the form of a director’s loan, it must be shown in both the relevant set of financial accounts provided and through readily identifiable transactions in the applicant’s business bank statement(s). The statement(s) must clearly show the transfer of this money from you to your business.”

Anyone has used copy statement?

Appreciate any response/advice!

Kind regards,
SG

[zimba]

Only officially printed bank statements are accepted or certified and stamped copies.

[awan905]

You can take these statements to bank and ask them to sign and stamp on each page.

[sgdxb]

Only officially printed bank statements are accepted or certified and stamped copies.

Hi Zimba88,

Thanks for reply. These statements are officially printed by Bank and its says certified copy, however, they are printed on plain white copier paper. Bank staff says that the seal (hologram) in Black on the statement with Logo, Bank name and date are Electronic stamp, they are no more allowed to stamp statements. Is it OK to submit them?

[zimba]

You have no choice it seems

[sm12]

Try some other branches. Do you live in London? In my brother's case, he found that branches in inner London were refusing to stamp the statements but then he went to an outer London branch and they agreed to stamp.
Did you call the bank and confirm that this is the best that they can offer? Usually most banks agree to send duplicate statements (but they charge for this). Just confirm with them once again.
Make sure you mention that you want a statement and not a transaction history (some banks send the latter unless told otherwise).
You could do what one of the members on this forum did: convert director's loan to share capital. This is tedious though and a long process. I believe his reasons were different though.

[sgdxb]

Thanks Zimba88 & sm12.

I have managed to get BS stamped.