Nigel Farage bank account shut for falling below wealth limit

[Chomper Higgot]

2 minutes ago, vinny41 said:

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

Which wasn’t my point.

 

But regardless, Farage has not presented evidence that his account was closed because of his views.

 

He didn’t have requisite funds. 
 

 

[vinny41]

4 minutes ago, Chomper Higgot said:

Which wasn’t my point.

 

But regardless, Farage has not presented evidence that his account was closed because of his views.

 

He didn’t have requisite funds. 
 

 

I have already provided you with the evidence that his account was closed due to his views not being the same as Coutts  Its strange that you have chosen to ignore this even though you replied to my post

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

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

 

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

[vinny41]

7 minutes ago, Chomper Higgot said:

You have produced no such proof.

 

Farage did not have sufficient money in his account AND was a risk to the banks marketing reputation amongst the elite it caters to.

 

Had he kept his account above the contractual threshold that he signed up to he might have an argument, he did not and he has not.

 

 

I look  forward to you producing the contractual threshold that he signed up to

Otherwise I will call your post out as FAKE

[Chomper Higgot]

1 minute ago, vinny41 said:

I look  forward to you producing the contractual threshold that he signed up to

Otherwise I will call your post out as FAKE

https://www.coutts.com/become-a-client/private-form.html#:~:text=Eligibility questions&text=To open an account all,on your country of residence.

[vinny41]

2 minutes ago, Chomper Higgot said:

https://www.coutts.com/become-a-client/private-form.html#:~:text=Eligibility questions&text=To open an account all,on your country of residence.

New Customers only

Coutts doubles client threshold to £1 million

Prospective clients must now have at least £1 million in investable assets rather than the £500,000 which has been in place over the past decade.

Coutts has issued updated guidelines which require new clients to have access to investible assets of £1 million as opposed to the £500,000 figure which has been in place over the past decade.

‘Some clients won’t have that,’ said a spokesperson, adding that Coutts will not close off entirely to those without the sought after liquid million.

The change in policy will not affect clients already with Coutts.

https://citywire.com/wealth-manager/news/coutts-doubles-client-threshold-to-1-million/a487853

[vinny41]

1 minute ago, ozimoron said:

If you want to insist that the bank closed hios account for any reason other than the balance you'd need to prove his balance was sufficient to keep the account open. Coutts make no bones about the fact they only deal with high net worth customers.

n 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

 

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 – which states:
“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.”

 

 

 

 

 

I

[Chomper Higgot]

6 minutes ago, vinny41 said:

New Customers only

Coutts doubles client threshold to £1 million

Prospective clients must now have at least £1 million in investable assets rather than the £500,000 which has been in place over the past decade.

Coutts has issued updated guidelines which require new clients to have access to investible assets of £1 million as opposed to the £500,000 figure which has been in place over the past decade.

‘Some clients won’t have that,’ said a spokesperson, adding that Coutts will not close off entirely to those without the sought after liquid million.

The change in policy will not affect clients already with Coutts.

https://citywire.com/wealth-manager/news/coutts-doubles-client-threshold-to-1-million/a487853

I’ve provided the banks eligibility criteria by means of a direct link to the bank. 
 

Naturally the bank will accommodate clients account fluctuations below that threshold, but it is at the bank’s own discretion.

 

In the 40 page document you referenced, Coutts clearly stated the commercial decision to maintain Farage’s account while his soon to be mature mortgage was in place, but not to renew their relationship with Farage once the mortgage was finished. (No longer meeting the bank’s financial eligibility threshold).

 

I doubt that’s an unusual decision for a bank that clearly states it caters for the very wealthy.

 

 

[Chomper Higgot]

8 minutes ago, vinny41 said:

n 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

 

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 – which states:
“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.”

 

 

 

 

 

I

You keep stating this but provide no evidence that Farage was discriminated against under the law.

 

Farage whinging about being discriminated against is not evidence.

[ozimoron]

https://www.mirror.co.uk/news/uk-news/nigel-farage-eu-poster-reported-8206561

[Chomper Higgot]

5 minutes ago, ozimoron said:

Lets not forget that Farage has been convicted of racial hatred crimes. Every company has the right to protect its reputation. That was a criminal, not a political matter.

I don’t recall Farage ever being convicted of any crimes.

 

But give him enough rope.

[ICU Kid]

23 minutes ago, ozimoron said:

Lets not forget that Farage has been convicted of racial hatred crimes. Every company has the right to protect its reputation. That was a criminal, not a political matter.

Source?

 

Absolute BS (as per usual)

 

Left wing sources will tell you the account de-banking Farage was about account balance (and 'true believers' will accept that)

 

Right wing sources will tell you it's about his political views / punishment for 'Brexit' (and 'true believers' will accept that)

 

If you live outside of the 'left/right' echo chambers,  taking a quick look at the file the bank kept a him tells you all you need to know.

 

Maybe they have a file on your political favourites too (and in time, YOU).

Keeps everyone in line and 'woke' or whatever the 'current thing' is in the future that the system wants to enforce (climate lockdowns up next?).

Edited July 23, 2023 by ICU Kid

[vinny41]

12 minutes ago, Chomper Higgot said:

I’ve provided the banks eligibility criteria by means of a direct link to the bank. 
 

Naturally the bank will accommodate clients account fluctuations below that threshold, but it is at the bank’s own discretion.

 

In the 40 page document you referenced, Coutts clearly stated the commercial decision to maintain Farage’s account while his soon to be mature mortgage was in place, but not to renew their relationship with Farage once the mortgage was finished. (No longer meeting the bank’s financial eligibility threshold).

 

I doubt that’s an unusual decision for a bank that clearly states it caters for the very wealthy.

 

 

P3 Following the declassification, the client’s EC is now sufficient to retain on commercial basis. EC  is abbreviated for Economic Contribution

[Chomper Higgot]

Just now, vinny41 said:

P3 Following the declassification, the client’s EC is now sufficient to retain on commercial basis. EC  is abbreviated for Economic Contribution

?

[vinny41]

 

Coutts relaxes £1m threshold to cater for Adam clients

The private bank has eased its deposit rules after being left with a number of lower net worth clients following Canaccord's acquisition of Adam & Co's investment arm.

The spokesperson added that the private bank has a 'broad spectrum' of customers that have significantly less than the £1m minimum, such as the ..

https://citywire.com/wealth-manager/news/coutts-relaxes-1m-threshold-to-cater-for-adam-clients/a2400689

[vinny41]

5 minutes ago, Chomper Higgot said:

?

Page 3

[Chomper Higgot]

13 minutes ago, ICU Kid said:

Source?

 

Absolute BS (as per usual)

 

Left wing sources will tell you it's about account balance (and 'true believers' will accept that)

 

Right wing sources will tell you it's about his political views / punishment for 'Brexit' (and 'true believers' will accept that)

 

If you live outside of the 'left/right' echo chambers,  taking a quick look at the file the bank kept a him tells you all you need to know.

 

Maybe they have a file on your political favourites too.

Keeps everyone in line and 'woke' or whatever the 'current thing' is in the future that the system wants to enforce.

Coutts woke.

 

My goodness.

[Chomper Higgot]

1 minute ago, vinny41 said:

Page 3

I don’t read The Sun, much less look at the pictures.

[ICU Kid]

Left wing sources will tell you the account de-banking Farage was about account balance (and 'true believers' will accept that)

 

Right wing sources will tell you it's about his political views / punishment for 'Brexit' (and 'true believers' will accept that)

 

If you live outside of the 'left/right' echo chambers,  taking a quick look at the file the bank kept a him tells you all you need to know.

 

Maybe they have a file on your political favourites too (and in time, YOU).

Keeps everyone in line and 'woke' or whatever the 'current thing' is in the future that the system wants to enforce (15 minute cities / climate lockdowns up next?).

[vinny41]

1 minute ago, Chomper Higgot said:

I don’t read The Sun, much less look at the pictures.

P3 of the 40 page report that you have been quoting from

Meanwhile

Nigel Farage accuses NatWest of giving his data to BBC and complains to Information Commissioner

He revealed he had received a 40-page document showing he met the "criteria for commercial retention" but Coutts - a bank also used by the Royal Family - wanted him to leave because of his views,

https://news.sky.com/story/nigel-farage-accuses-natwest-of-giving-his-data-to-bbc-and-complains-to-information-commissioner-12925694

[vinny41]

It Should be noted that the original op link has been updated by the BBC 

Update 21st July 2023: We acknowledge that the information we reported - that Coutts' decision on Nigel Farage's account did not involve considerations about his political views - turned out not to be accurate. 

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

 

[ArnieP]

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

[vinny41]

41 minutes ago, ozimoron said:

Lets not forget that Farage has been convicted of racial hatred crimes. Every company has the right to protect its reputation. That was a criminal, not a political matter.

You might want to request a moderator to remove your libelous statement

[Bday Prang]

18 hours ago, Chomper Higgot said:

False equivalence alert.

Nothing false about it at all you just don't like the facts

[Bday Prang]

22 minutes ago, vinny41 said:

You might want to request a moderator to remove your libelous statement

It normally happens automatically when I make an inaccurate post

[Bday Prang]

1 hour ago, ozimoron said:

Lets not forget that Farage has been convicted of racial hatred crimes. Every company has the right to protect its reputation. That was a criminal, not a political matter.

       No, he has not been convicted of any racial hatred crime. You are just making things up,  Unless you can provide proof of this you should retract that statement,  Put up or shut up is a phrase that springs to mind.

      And the link you provided in a later post about a few woke snowflakes whinging about a poster that "offended" them will  not suffice

        I'd be a bit more careful If I were you, not only have you lost any credibility that you may mistakenly  have thought you had,  But you have also left yourself wide open to legal action by Farage, for posting such a bare faced lie, just imagine if he was to find out.

          Its not only woke banks that have a right to protect their reputation

[metisdead]

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