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Original poster

“Prejudiced and nasty” Nigel Farage…

635 replies

MangetoutsaysGetOutMan · 19/07/2023 17:53

… doesn’t understand irony.

OP posts:
Thread gallery
34
AdamRyan · 19/07/2023 21:58

I didn't say they weren't allowed bank accounts. The banks are more careful with PEPs. I think NF politics are nothing to do with it.

But at the end of the day the banks are a business so if they don't want to take his business they don't have too

Gilmorehill · 19/07/2023 21:59

Jigslaw · 19/07/2023 18:32

I think it does set a dangerous precedent

This. Couldn't give a stuff about NF and his bank accounts, but where is the line drawn? What views are acceptable and not acceptable? Why is a bank determining this? I suspect gender critical women are next to be denied bank accounts or whatever else for perfectly rational views.

That’s what concerns me.

mateysmum · 19/07/2023 22:00

thistimelastweek · 19/07/2023 21:35

You have a way with words.

Summed it perfectly in my view.

Show quote history

HE HAD ENOUGH MONEY!
Sorry to shout but Coutts themselves said he had sufficient funds. That is Not why they closed his account. It is there in black-and-white in documents provided by Coutts. NF may be a whiny fucker or not but stick to the facts about this case.

mateysmum · 19/07/2023 22:05

AdamRyan · 19/07/2023 21:58

I didn't say they weren't allowed bank accounts. The banks are more careful with PEPs. I think NF politics are nothing to do with it.

But at the end of the day the banks are a business so if they don't want to take his business they don't have too

The documents say he was a low risk PEP. They specifically assessed and ruled this out as a rational for closure
Coutts documented this in internal notes now released.
Fucks sake can't believe I'm defending a worm like.NF, but as I said some people just can't believe NF might be justified. Read up about the dossier please folks.

EsmeSusanOgg · 19/07/2023 22:14

It is a fair bit more nuanced than a few posters here have stated.

Coutts has a financial bar to be able to bank with them. If you fall below that, they assess whether keeping you as a customer is in the wider commercial interests of the bank.

Farage was below their requirements to bank with them, they convened a board to see whether it made sense to keep him as a customer. Among financial and commercial decisions, especially in the current economic climate, it was noted that some of his very public opinions - and wider affiliations - could put the bank at both commercial and reputation risk.

This was not the main factor for him having his account closed, it was a factor in determining there were not sufficient mitigating factors to keep his account open when he did not make the financial bar.to stay with them.

This information is also totally separate to Farage and others discussing additional scrutiny when making major financial transactions (either applying for loans, or making very large purchases) because they are considered politically exposed people (PEPs). PEPs face additional scrutiny under anti money laundering rules. This extra scrutiny could highlight legal issues, or it could just highlight their finances are a lot shakier than a lender wants to deal with in the current economic climate. A PEP is not always a politician, nor are all politicians PEPs. It means an individual is at higher risk from bribery - especially from foreign actors - due to access and roles they either currently hold or have held. Lots of checks have been substantially increased on PEPs following Russian sanctions.

AnSolas · 19/07/2023 22:20

MandyMotherOfBrian · 19/07/2023 19:32

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

Show quote history

That type of banking would also involve upselling. Think of a tesco club card and the special offers only avaialble to members.

One of the staff would be a sales guy who phones NF to up to offer what ever products the bank is selling this week.
These will be listed in specific order, from the one which will earn the highest sales commission to the lowest.

KTheGrey · 19/07/2023 22:23

Well @LlynTegid it would certainly tickle me pink for Nigel Farage to have to bank with the post office, and it is necessary to have a bank account, so I strongly support reinstating the PO Bank.

Wishitsnows · 19/07/2023 22:24

Coutts are not closing existing accounts of people who do not have enough money. It is really quite scary the power the banks have in such a cashless society. They were hoping Nigel F was hated enough people wouldn’t get past that

calmcoco · 19/07/2023 22:32

It depends entirely on Coutts' legal responsibilities as to whether they're allowed to do this. If they are, it is fine for them to turn down business IMO, if they're not allowed, NF can take action.

NF is not going to get much sympathy from me, he's entitled to his legal rights of course but no more, he's an unkind and deliberately divisive character so can't really take umbrage about people not wanting his business.

EsmeSusanOgg · 19/07/2023 22:34

https://www.bbc.co.uk/news/business-66247057

There has been an update on the BBC. Farage has focused on some areas - but there is a throw away mention in the article about NF saying the bank had concerns about his links with Russia.

It'll be interesting to see what the whole dossier says for wider context - though I am loathe to click on the DM (though are they actually linking to the whole 40 page report?)

Nigel Farage

Nigel Farage launches fresh attack over Coutts bank closure

The ex-UK Independence Party leader accuses the BBC of falling for "spin", saying his account was closed due to his views.

https://www.bbc.co.uk/news/business-66247057

ThisTimeIts · 19/07/2023 22:41

BBC journalists and Natwest staff having cost dinner chats, with factually incorrect information, they are both up in their necks.

As a UK taxpayer, I bailed out Natwest, they are now part of a new woke religion, punishing not believers.

No fan of Farage here, this is woke fascism.

https://www.telegraph.co.uk/news/2023/07/19/coutts-nigel-farage-racism-sexism-banking-braverman/

Coutts is signed up to scheme which vows to tackle ‘racism, transphobia, classism and xenophobia’

Braverman says the closure of Farage’s account exposes the ‘sinister nature of much of the diversity, equity and inclusion industry’

https://www.telegraph.co.uk/news/2023/07/19/coutts-nigel-farage-racism-sexism-banking-braverman

Fossie · 19/07/2023 22:43

mateysmum · 19/07/2023 20:31

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.

This

DisquietintheRanks · 19/07/2023 22:46

Banks refuse people accounts all the time. Not sure why an exception should be made for the rich.

Notonthestairs · 19/07/2023 22:50

So Coutts haven't broken any existing legislation?

ThisTimeIts · 19/07/2023 22:56

Notonthestairs · 19/07/2023 22:50

So Coutts haven't broken any existing legislation?

The Ricky Gervais retweet is a legit UK legit GC belief, others haven't been tested I court.

MichelleScarn · 19/07/2023 22:57

MangetoutsaysGetOutMan · 19/07/2023 17:54

Coutts say “we don’t want your sort here” and Nigel gets upset.

Oh @MangetoutsaysGetOutMan are you one of the lovely 'I'm so inclusive and caring (as long as you believe and say what I say)'
people'?

caringcarer · 19/07/2023 22:58

daisychaindays · 19/07/2023 18:51

That's not exactly what's come out in the news today though @TheCatterall the bbc were reporting earlier that Farage had obtained a number of documents which the bbc had seen which I think had confirmed his views, connections and reputation was seen as incompatible with the bank

Holding a bank account should not be reliant upon a persons political views. It is very dangerous and possibly illegal.

caringcarer · 19/07/2023 23:00

Also Nat West Banking Group is 40 percent owned by tax payers so even more reason not to discriminate against customers for political views.

MrJollyLivesNextDoor · 19/07/2023 23:00

Ilikewinter · 19/07/2023 20:41

Oh wow, in what world did we all think we'd be siding with NF! But I totally agree with PP. Coutts lied about the reason for closing his account, which shows they know they were underhanded....surely they didnt think that NF would go quietly??.

.
Speak for yourself, I'm not siding with that odious prick.

NatWest not prestigious enough for him?

caringcarer · 19/07/2023 23:01

How could NF be affecting their brand when before he had his account closed no one knew who he banked with.

DisquietintheRanks · 19/07/2023 23:02

Notonthestairs · 19/07/2023 22:50

So Coutts haven't broken any existing legislation?

No they haven't.

ThisTimeIts · 19/07/2023 23:04

He was not given a business account and nothing in writing for the basic account. Considering they got caught telling lies and what they write about him, only a fool would trust that there really is an account available?

Gothambutnotahamster · 19/07/2023 23:06

loislovesstewie · 19/07/2023 18:30

Look, I don't like NF, but I think it's totally unreasonable to close a bank account because his views don't agree with some person in a bank who is making a value judgement. It sets a dangerous precedent , and quite frankly resembles a modern day witch hunt.

This! Scary as shit that banks can do this. We're all fucked when there's no more cash!

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