Nigel Farage bank account shut for falling below wealth limit

[anchadian]

Nigel Farage fell below the financial threshold required to hold an account at Coutts, the prestigious private bank for the wealthy, the BBC has been told.

 

It is understood that he was subsequently offered a standard account at NatWest which owns Coutts.

 

Last week, Mr Farage said he believed his account had been shut for political reasons and he was turned down by seven other lenders when he went elsewhere.

 

https://www.bbc.com/news/business-66097039

[orchis]

blame it on brexit, farage, 555.

[nglodnig]

That's probably why Barclays closed my account - the balance dropped to 2,999,999 (in my dreams)

[lungbing]

If the BBC have been told this then it's a breach of account confidentiality.

[In the jungle]

10 minutes ago, lungbing said:

If the BBC have been told this then it's a breach of account confidentiality.

Perhaps.  But it is also very funny given all the BS Nigel has been peddling over the last few days.

 

 

[Tropicalevo]

38 minutes ago, lungbing said:

If the BBC have been told this then it's a breach of account confidentiality.

I would think that the bank has every right to defend itself from the muck being spread by the failed politician.

[nglodnig]

1 hour ago, lungbing said:

If the BBC have been told this then it's a breach of account confidentiality.

True, but it doesn't seem to have come from the bank itself:

 

But people familiar with Coutts' move said it was a "commercial" decision.

 

[Chivas]

1 hour ago, lungbing said:

If the BBC have been told this then it's a breach of account confidentiality.

Rubbish

That piece of trailer trash Farage had his backside handed to him purely because Coutts were not going to sit back indefinately whilst he continued to run his mouth off

 

The amount of bed wetters on Twitter scuttling for cover when the truth surfaced was beyond hilarious

[stratocaster]

[nausea]

Farage has been vindicated, it seems, going by the latest news reports.

[Chomper Higgot]

4 hours ago, nausea said:

Farage has been vindicated, it seems, going by the latest news reports.

You mean he had more than the minimum on account and/or invested/borrowed?

[Wobblybob]

On 7/4/2023 at 8:55 PM, Tropicalevo said:

I would think that the bank has every right to defend itself from the muck being spread by the failed politician.

It is a banks job to handle peoples money and not to chose its customers on their political beliefs especially as the bank is in 40% public ownership. 

[RuamRudy]

1 hour ago, Wobblybob said:

It is a banks job to handle peoples money and not to chose its customers on their political beliefs especially as the bank is in 40% public ownership. 

Whilst I don't agree with you that banks are obligated to deal with obnoxious customers, history has shown that there is no such thing as an ethical or honest bank. Dirty money or clean, they don't care where it came from. So I would have thought that Farage would have been welcomed at any UK bank. 

 

I can only assume, therefore, that it was a petty attack on him personally - and I can easily understand such motives. I don't necessarily condone their action but I can't help but feel a bit of schadenfreude.

[VocalNeal]

14 minutes ago, RuamRudy said:

So I would have thought that Farage would have been welcomed at any UK bank. 

 

I can only assume, therefore, that it was a petty attack on him personally

He was also welcome to transfer funds to keep his account above the threshold. Just like any of the followers he represents.????

[vinny41]

NatWest boss apologises to Nigel Farage over Coutts account closure row

Banking group CEO apologises for comments about former Ukip leader in internal report

Explainer: What the new rules on bank account closures mean

Analysis: Farage affair is ‘a monumental PR disaster’ for Coutts

https://www.theguardian.com/politics/2023/jul/20/natwest-boss-apologises-to-nigel-farage-coutts-bank-account-closure-row

 

Clearly Coutts not aware of SAR  Subject Access Requests

[BritManToo]

3 hours ago, Chomper Higgot said:

You mean he had more than the minimum on account and/or invested/borrowed?

Does broke Prince Andrew still have his Coutts account?

[Chomper Higgot]

25 minutes ago, BritManToo said:

Does broke Prince Andrew still have his Coutts account?

Whatabout Prince Andrew?!

[Chomper Higgot]

1 hour ago, vinny41 said:

NatWest boss apologises to Nigel Farage over Coutts account closure row

Banking group CEO apologises for comments about former Ukip leader in internal report

Explainer: What the new rules on bank account closures mean

Analysis: Farage affair is ‘a monumental PR disaster’ for Coutts

https://www.theguardian.com/politics/2023/jul/20/natwest-boss-apologises-to-nigel-farage-coutts-bank-account-closure-row

 

Clearly Coutts not aware of SAR  Subject Access Requests

‘Monumental PR disaster’?

 

The bank have apologized for the comments made in their internal meeting. The comments made were not the reason Farage’s account was closed.

 

And I very much doubt many of Farage’s supporters are in a financial position to open or indeed hold an account at Coutts.

 

 

[vinny41]

1 hour ago, Chomper Higgot said:

‘Monumental PR disaster’?

 

The bank have apologized for the comments made in their internal meeting. The comments made were not the reason Farage’s account was closed.

 

And I very much doubt many of Farage’s supporters are in a financial position to open or indeed hold an account at Coutts.

 

 

I guess you haven't read the 40 page SAR meanwhile

Ministers are considering putting extra conditions on banking licences after a row over the closure of Brexiteer Nigel Farage's account at Coutts.

It follows reports that lenders could lose their permits if they cut ties with customers because they disagree with their political views.

https://www.bbc.com/news/business-66254596

[vinny41]

It comes after Mr Farage, the former UKIP leader, obtained documents which showed Royal bank Coutts had closed down his accounts after deciding his views “do not align with our values”.

https://www.telegraph.co.uk/news/2023/07/21/nigel-farage-coutts-banking-scandal-may-go-further/

[RuamRudy]

2 hours ago, Chomper Higgot said:

‘Monumental PR disaster’?

 

The bank have apologized for the comments made in their internal meeting. The comments made were not the reason Farage’s account was closed.

 

And I very much doubt many of Farage’s supporters are in a financial position to open or indeed hold an account at Coutts.

 

 

I think that more than a few of his backers have Coutts accounts though - or maybe it's all in Panamanian shell accounts...

[BritManToo]

40 minutes ago, vinny41 said:

I guess you haven't read the 40 page SAR meanwhile

Ministers are considering putting extra conditions on banking licences after a row over the closure of Brexiteer Nigel Farage's account at Coutts.

It follows reports that lenders could lose their permits if they cut ties with customers because they disagree with their political views.

https://www.bbc.com/news/business-66254596

liked the bit where he was called a 'Climate denier', all such people should have their bank accounts cancelled.

[Chomper Higgot]

53 minutes ago, vinny41 said:

I guess you haven't read the 40 page SAR meanwhile

Ministers are considering putting extra conditions on banking licences after a row over the closure of Brexiteer Nigel Farage's account at Coutts.

It follows reports that lenders could lose their permits if they cut ties with customers because they disagree with their political views.

https://www.bbc.com/news/business-66254596

Well if you have perhaps you can produce the bit where it is concluded Farage’s views are the reason to close his account.

 

He’s being awfully coy about the balance on his account before it was closed.

[vinny41]

4 minutes ago, Chomper Higgot said:

Well if you have perhaps you can produce the bit where it is concluded Farage’s views are the reason to close his account.

 

He’s being awfully coy about the balance on his account before it was closed.

Why should a person make public their finances, Are you willing to publish your finances online for everyone to see

In this BBC clip the BBC have reported they have heard from Coutts customers stating they are below the financial threshold and they still have their accounts

https://www.bbc.com/news/av/uk-66262494

 

BBC reporter fails to apologise for story about Nigel Farage’s Coutts bank account closure

Simon Jack admitted the story 'should have been clearer' that the information was from a source and not fact

 

On Wednesday, The Telegraph revealed Mr Jack sat next to Dame Alison at a charity dinner the night before the story was published.

https://www.telegraph.co.uk/news/2023/07/21/bbc-reporter-nigel-farage-coutts-account-closed-no-apology/

 

Jon Sopel apologises to Nigel Farage after ex-BBC correspondent mocked the former UKIP leader over Coutts closing his account down and says episode will 'teach me to trust reporting of my old employer'

Broadcaster Jon Sopel apologised after mocking Nigel Farage's Coutts exclusion

Farage this week uncovered a dossier the private bank had compiled against him

https://www.dailymail.co.uk/news/article-12320899/Jon-Sopel-apologises-Nigel-Farage-ex-BBC-correspondent-mocked-former-UKIP-leader-Coutts-closing-account-down.html

 

 

[vinny41]

The Committee did not think continuing to bank NF was compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organisation. this was not a political decision but one centred around inclusivity and Purpose. P1

Coutts' 40-page dossier on Nigel Farage in full

https://www.telegraph.co.uk/news/2023/07/19/coutts-full-dossier-on-nigel-farage-closed-bank-account/

I don't recall in 2008 when RBS aka NatWest aka Coutts when seeking a £45.5 billion bailout from the UK Government making any stipulation that they would only accept the £45.5 billion bailout if the UK Government could guarantee that the source of those funds only came from people that shared their views and values

[Chomper Higgot]

4 hours ago, vinny41 said:

The Committee did not think continuing to bank NF was compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organisation. this was not a political decision but one centred around inclusivity and Purpose. P1

Coutts' 40-page dossier on Nigel Farage in full

https://www.telegraph.co.uk/news/2023/07/19/coutts-full-dossier-on-nigel-farage-closed-bank-account/

I don't recall in 2008 when RBS aka NatWest aka Coutts when seeking a £45.5 billion bailout from the UK Government making any stipulation that they would only accept the £45.5 billion bailout if the UK Government could guarantee that the source of those funds only came from people that shared their views and values

False equivalence alert.

[vinny41]

The Financial Conduct Authority, City watchdog for conduct of banks, points to relevant legislation which forbids discrimination: Regulation 18 of the Payment Accounts Regulations 2019 – one of the EU retained laws from 2015 

“A credit institution must not discriminate against consumers legally resident in the United Kingdom by reason of their nationality or place of residence or by reason of sex, race, colour, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age or sexual orientation when those consumers apply for or access a payment account.”

[BritManToo]

What's really shocking is a bank keeping a file this detailed (and opinionated) on a customer.

 

[Chomper Higgot]

14 hours ago, vinny41 said:

The Financial Conduct Authority, City watchdog for conduct of banks, points to relevant legislation which forbids discrimination: Regulation 18 of the Payment Accounts Regulations 2019 – one of the EU retained laws from 2015 

“A credit institution must not discriminate against consumers legally resident in the United Kingdom by reason of their nationality or place of residence or by reason of sex, race, colour, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age or sexual orientation when those consumers apply for or access a payment account.”

Oh, so now the rightwing want to keep retained EU law to serve the purposes of the Brexiteer in-chief.

How the world turns.

 

[vinny41]

1 hour ago, Chomper Higgot said:

Oh, so now the rightwing want to keep retained EU law to serve the purposes of the Brexiteer in-chief.

How the world turns.

 

The law doesn't discriminate between rightwing and leftwing there is only the law