How is a Bounce Back Loan different from a Business Interruption Loan?

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. here. 

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. To see your EUR SEPA details, go to the 'Payments' tab > tap 'Details' next to your main account > 'EUR SEPA'. Then, tap 'Share' to share them with your payors from SEPA countries and receive payments from them. 

You can read more about the difference between CBILS and BBLS on the British Business Bank’s website.

To learn more about SEPA, and how to use it to send or receive international payments, visit the dedicated FAQ page.

You can receive international payments in GBP via SWIFT (Society for Worldwide Interbank Financial Telecommunication) too. 

To do this, you’ll need your SWIFT account details. You can find these in your app by tapping the ‘Payments’ tab > ‘Details’ next to your main account > ‘SWIFT’. Then tap ‘Share’ to send your details to your payors. 

We will charge you 20p per payment. If you’re using one of our paid plans, we’ll start charging the 20p fee after you’ve gone over your monthly free transactions limit. 

You can’t send payments via SWIFT but we will let you know if we make this possible in the future.