“Prejudiced and nasty” Nigel Farage…

[MangetoutsaysGetOutMan]

… doesn’t understand irony.

That would be true if the bank were claiming that that was why the decision was made.

However as @MandyMotherOfBrian pointed out that is not why the staff made the decision.

What has happened to him is entirely irrelevant to a member of the general population.
This is not correct NF's accouts should be subjected to the same checks as any other Joe Public's account.

The law is there to protect society (us) from corruption, bribery and money laundering.

The banks problem is that their system is flawed and it would cost too much to make sure the bank are in compliance with the law.
The cheap option is to avoid the risk of being caught when it involves a PEP.

Looks like it wasn’t the money threshold then as in pp

If it’s true that he was de-banked because of his political views then 1) it’s an appalling fetter on free speech, 2) I am sure they hold funds of people with even more extreme views/have committed crimes 3) it is likely to be discrimination based on a protected characteristic (his political Beliefs and 4) it is the beginning of a very slippery slope. Who decides which are the “right” views to hold?

And yea, the man is an arse and I have vehemently disagreed with everything how has done over the last few years.

I don't agree with NF and his views, but in a democracy he is entitled to his opinions. It is not up to the bank to determine whether someone's views are correct or not. If so, where does it end? Muslims can't have a bank account, gender critical people can't have one, Just Stop Oil supporters can't have one?

Absolutely this and if you think it can't or won't happen, think again .
Remember covid and only travelling in your own area, not visiting dying relatives !

Thanks for this that is interesting. Ok
not sure I agree NF is entitled to an account at coutts but he should be a belt o get one somewhere…

What's so special about a Coutts account? Is NF saying that he can't get an account with any UK bank?

I'm trying to remember exactly who it was (maybe Wings Over Scotland), but I'm sure at least one GC charity/organisation in Scotland has recently had its bank account closed. So not only could it happen to GC people, it already is.

didn't he promise to move to Germany if he couldn't have an account with Coutts?
Hasn't he gone yet?

Bit like Nadine Dorries 'resigning' with immediate effect.

Coutts have had to release their own documents on the matter.

If we are to deny people we don't agree with bank accounts, where does it stop? And when might they come for you?

If they are FCA regulated then unless a person/entity doesn’t conform to their threshold for commercial viability (which the SAR doc states is not the reason NF had his account closed), or legal and regulatory requirements, then they have to treat them ‘fairly’ - and ‘we don’t like your opinion/views’ doesn’t come under that.

@lljkk You do get brilliant service with a Coutts account.

You don’t have to believe him - just read the documents released under the Subject Access Request - all the info is in there.

Prestige I presume, the Monarchy bank with them don’t they? But anyway it’s not really the point tbh

It's a regulated sector which means there are conditions placed on the ability of banks to operate - what those are can vary. But the government and the regulator can set the terms within which they operate.

Coutts is a private bank. It has no obligation to provide anyone with an account and can withdraw its services for any reason.

If Farage is having difficulty getting a private bank account he needs to approach the public banks or the Post Office. I suspect however he is mainly concerned about losing the prestige of the Courts card.

Cash handling costs a "shit-load" of money for the bank itself. And that cost passed on to retailers who buy cash for their business.

Why do you thing you would have to pre-order large cash sum withdrawals from your local branch?
Because the bank dont what to spend the money or take the risk of holding cash overnight.
How many bank robberies have happened in recent years which were not a JCB pulling an ATM out of the side of a bank?

IMO It is not much that an individual should have a right to an account in Bank X.
Rather that Bank X should not be allowed to make moral judgement on customers which set a higher bar than the legislation passed by elected reps.
That is equal treatment.

Surely being an inclusive organisation means you include everybody?

Nope its part of a publicly quoted company:

https://www.coutts.com/about/history.html

The acquisition of the NatWest Group in 2000 established Coutts as the private banking arm of RSBC

Its just a posh (expensive) fast track I get to see the Manager bank account

‘I think it does set a dangerous precedent’

they’re a business and he’s damaging their brand. Plenty of other banks

All paragons of moral virtue in the monarchy there then.

Lots of people on here seem determined to believe that NF was debunked because he is politically exposed person or that he didn't have sufficient funds. Neither is true, according to Coutts themselves. They followed him on social media.They put in writing in internal documents that they were closing his account because his opinions were not in line with those of the bank.
They said he had done nothing against regulations or the law and they still chucked him out. The reputational risk is also pretty spurious. I expect next to nobody knew where he banked. Now we all do.
I hold no brief for NF but this is a slippery slope. I'm gender critical. Seems I'd better not apply for an account at Coutts.

*debanked!

^This absolutely. It’s a very dangerous precedent.