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

And of course, if we were to go cashless Big Brother can see what you spend your money on, where you go, what you owe, what you’re worth etc.

So glad so many people are now grasping what is going on.
It has been slowly creeping up on us all for several years.

It’s been enforced recently for people who are illegal immigrants too.
www.theguardian.com/uk-news/2023/apr/06/people-suspected-of-living-illegally-in-uk-to-have-bank-accounts-closed, which accounts for some of the numbers.
I think it is appropriate for this to be investigated further through the government, I don’t think the hysteria is necessary until we understand more about the justifications being used. I don’t agree with jumping on a bandwagon of protest when we only have half the facts. If it is being used inappropriately then the law will no doubt be changed.

MaizieD

One bank closed an account for what people think is a piffling reason. So now there's panic on Gnet...

This article from 2021 puts the lie to the one

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

MerylStreep - that’s very interesting.

I think I’ll get all my money out of the bank and hide it under the bed. 🤣

Some years ago I used to see a man with a big sandwich board and placards standing in a busy street and handing out leaflets to people explaining how he had lost his home due to a major Bank’s errors. He had lost everything and could get no help from anywhere. I must try and find out whether if ever got compensated. It’s just like the dreadful Post Office scandal where honest people lost their homes, their jobs, went to prison and some even committed suicide.

Casdon

It’s been enforced recently for people who are illegal immigrants too.
www.theguardian.com/uk-news/2023/apr/06/people-suspected-of-living-illegally-in-uk-to-have-bank-accounts-closed, which accounts for some of the numbers.
I think it is appropriate for this to be investigated further through the government, I don’t think the hysteria is necessary until we understand more about the justifications being used. I don’t agree with jumping on a bandwagon of protest when we only have half the facts. If it is being used inappropriately then the law will no doubt be changed.

If someone is an illegal immigrant then they may be working in the black economy. Banks have a duty to identify people opening accounts and to be vigilant for money laundering; that would include wages being paid via the black economy or the regular depositing of cash.

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

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.

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.

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

Farage claims his account was closed in April I think -

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?

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.

He can always appeal to the ECHR 😄😄😄

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

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 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.

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

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.

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.

What’s a ‘far right’ bank?

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

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).

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.

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.