Should Banks Be Able To Close Accounts If They Do Not Like Your Opinion

Regardless of what anyone things of Farage - and I don't think highly of him at all - if he's being victimised for no good reason, then this whole PEP issue needs looking into.

As far as I can make out, Farage's initial claim, which he made on various social media,(and I've seen his tweet) was that his accounts had been frozen because of his support for Brexit. He has used this to portray himself as a victim and perpetuate the leave/divide (because without that he loses his meaning in life and his time in the limelight).

It seems to me that it doesn't require a great deal of brain to work out that a bank with which has held his accounts for 30 or 40 years(depending on which story you're reading), during which time he has made his anti EU beliefs extremely clear, is going to freeze his accounts for such an infantile reason. There must be something more serious in their rationale for their action. But we will never know because of bank/client confidentiality.
The fact that he has been turned away by 9 other banks (announced by him on twitter yesterday) tells me that it is something rather more than an error, the act of an overzealous jobsworth or a political vendetta.

Natwest has been mentioned in that article and I can confirm that they are very difficult to deal with, the account I have is not a critical one, the card won’t work in a cash machine they can’t or wont fix it

M0nica

WWM2 Just because you are politically opposed to Farage, you are letting yourprejudices get in the way of a fair and objective view of what is happening.

An MP made an accusation about Farage in Parliament for which he has failed to provide evidence or repeat outside the House of Commons so that Farage can challenge it legally.

But you, and others are ignoring the stories that are in the news, usually at a local paper level, of ordinary people and businesses, who suddenly have their bank accounts closed, with no reason given. To do so, it is considered, may give criminals information as to how their nefarious behaviour was discovered.

But most of these cases are not criminals, they are ordinary people, who are victims of 'the computer says' because of confusion, mistaken identity or other error.

In the last day we have heard that Domenica Lawson, who has Downes Syndrome, has had her account closed because she was she was identified as a 'Politically Exposed Person', because her dead grandfather was once Chancellor of the Exchequer.

Good post MOnica.

In the last day we have heard that Domenica Lawson, who has Downes Syndrome, has had her account closed because she was she was identified as a 'Politically Exposed Person', because her dead grandfather was once Chancellor of the Exchequer.

... and that is worrying, or should be, to all of us.

Regardless of what anyone things of Farage - and I don't think highly of him at all - if he's being victimised for no good reason, then this whole PEP issue needs looking into.

WWM2 Just because you are politically opposed to Farage, you are letting yourprejudices get in the way of a fair and objective view of what is happening.

An MP made an accusation about Farage in Parliament for which he has failed to provide evidence or repeat outside the House of Commons so that Farage can challenge it legally.

But you, and others are ignoring the stories that are in the news, usually at a local paper level, of ordinary people and businesses, who suddenly have their bank accounts closed, with no reason given. To do so, it is considered, may give criminals information as to how their nefarious behaviour was discovered.

But most of these cases are not criminals, they are ordinary people, who are victims of 'the computer says' because of confusion, mistaken identity or other error.

In the last day we have heard that Domenica Lawson, who has Downes Syndrome, has had her account closed because she was she was identified as a 'Politically Exposed Person', because her dead grandfather was once Chancellor of the Exchequer.

It’s wise to be careful what we write though as this looks as if it’s going to become big.

VioletSky you mentioned a ‘far right’ bank. I asked what that is because I don’t think that any bank is either far right or far left. I’m wondering what you meant?

Whitewavemark2

So far there has not been a shred of evidence that this has happened.

But I suppose it has been a useful way of knocking real stuff off the headlines like poverty and the cost of living crises of which there is ample evidence.

But hey why bother with facts when you can fight a culture war.

So this article is a pack of lies ?

inews.co.uk/inews-lifestyle/money/saving-and-banking/how-the-ombudsman-is-failing-scores-of-customers-with-frozen-bank-accounts-1123561

karmalady

Whitewavemark2

I’m sure a Russian bank will accept Farage. After all he has been paid in roubles for some of his nefarious activities.

libellous

😄😄 you think? Not when all the information is all out there for the world to see. You only have to look.

Banks do close accounts that they think are being used illegally or even on the suspicion that they might, also any unusual activity will trigger an investigation, which may suspend or restrict the account.
Farage was probably making odd transactions that the bank was suspicious about, that’s all it takes.

Galaxy

Well we so far we have had the playing the culture war nonsense, we have a little dig about I wonder what he said in his two paragraphs (re the vicar), and on it goes.

The Guardian article sums up what’s going to happen. We need to stop all the histrionics and let the review happen, which it will do. People have become over invested in this without all the facts as far as some of the cases are concerned, in my opinion anyway Not the ones you mention, the ones that we have one side of the story about).

Whitewavemark2

I’m sure a Russian bank will accept Farage. After all he has been paid in roubles for some of his nefarious activities.

libellous

What’s a ‘far right’ bank?

Well we so far we have had the playing the culture war nonsense, we have a little dig about I wonder what he said in his two paragraphs (re the vicar), and on it goes.

Galaxy

I have listed numerous cases where gender critical women have been discriminated against because of belief. They all won their case in the courts.
But why worry about facts when you can accuse people of playing the culture war.

Is somebody denying that Galaxy? Surely that’s one of the reasons why a review is needed. There’s difference between individual banks not applying a law that already exists and has had several recent amendments/additions and the law being inadequate.

I’m sure a Russian bank will accept Farage. After all he has been paid in roubles for some of his nefarious activities.

I have listed numerous cases where gender critical women have been discriminated against because of belief. They all won their case in the courts.
But why worry about facts when you can accuse people of playing the culture war.

fancythat

Casdon If it is being used inappropriately then the law will no doubt be changed.

You have as much faith in any government and the law as that?

They won’t want a scandal just before an election, so in this case yes I do think they will - it remains to be seen whether it’s necessary.

I don't think any business owes anyone custom if they violate the law or are abusive to staff.

But we will just end up with a far right bank who will capitalise on fear of losing accounts

He can always appeal to the ECHR 😄😄😄

Closing bank accounts without explanation or any form of redress is a sure and certain way of inculcating poverty and a cost of living crisis.

Casdon If it is being used inappropriately then the law will no doubt be changed.

You have as much faith in any government and the law as that?

Farage claims his account was closed in April I think -

Just one more point which may have a bearing on this, and which I’ve just become aware.

So far there has not been a shred of evidence that this has happened.

But I suppose it has been a useful way of knocking real stuff off the headlines like poverty and the cost of living crises of which there is ample evidence.

But hey why bother with facts when you can fight a culture war.

Casdon

Sensible report on what is to be done, which avoids the hyperbole.
www.theguardian.com/politics/2023/jul/03/banks-accused-of-closing-accounts-such-as-nigel-farages-on-political-grounds

Thanks for posting the link Casdon.

It is indeed a sensible report, without the hype, sticking to the known facts.

Much as I dislike Farage, he's entitled to the same protections as anyone else. Obviously the bank has not told him why exactly they are 'unbanking' him, so he can only speculate.

I'm waiting to see what my bank do now I've told them I'm extremely miffed with them.