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

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

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?

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.

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.

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

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.

Posted too soon.

Lots of stories of inexplicable frozen accounts made several twitter threads on the heels of Farage's claim, but the theme running through them was that the banks rarely ever explained the reason for the freeze.

Which makes me suspicious of the stories that are emerging.

I agree Maizie. I strongly suspect that the bank has good reason to believe that some of his money is coming from dubious sources. A bank doesn’t close the account of a longstanding and well-off (therefore profitable) customer for no good reason. The fact that he has been turned away by other banks speaks volumes. Banks speak to one another.

Banks can’t explain Maizie - confidentiality - so we only ever hear one side of the story.

Whitewavemark2

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

FGS Give it a rest!!! You know perfectly well that Labour MP Chris Bryant concocted this story but dare not say so in public!

Whitewavemark2

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.

Please stop repeating this absolute nonsense!!

Primrose, Farage’s bank would not close his accounts on the basis of what someone says in parliament. They can see where his money comes from.

So the banks are now policemen are they? No wonder people go offshore.

I don’t see anything odd about other banks refusing to open an account for Nigel Farage and others. They are like the medical and legal professions, they all cover each others backs.

I really think Farage should have named the Bank who said they were closing his accounts. Still doesn’t explain why his family members have had their accounts closed too.

Banks can’t explain Maizie - confidentiality - so we only ever hear one side of the story.

Banks can explain to the account holder. No breach of confidentiality there.

I don’t have feelings about NF one way or the other but it wouldn’t surprise me if there’s conspiring from globalists higher up the chain. If you don’t believe in such things you need to give your head a wobble.

I think some of the posts are missing the original question of the thread,
The original question is, "if they do not like your opinion"

Doesnt have to be Far age.
Doesnt have to be left wing or right wing.

Can be you. About anything. That is the question.

I appreciate threads can deviate.
But some posts are just homing in on particular people, or particular beliefs.

Monica's post is very balanced, NF is a contentious figure and whilst he has highlighted this problem, it does remain to be seen whether he has been unfairly targeted. Nevertheless as others have remarked, and sometimes with supporting evidence such as GrannyGravy supplied up thread from Martin Lewis' website, having bank accounts withdrawn doesn't just pertain to a couple of individuals. Hate to keep bringing up the vicar but his case does in fact exemplify that there is a culture issue going on within corporations as to what they are expected to subscribe to. Another individual who had his account closed, was a Scottish Nationalist MP who was vocal in his assertion that women don't have penises. These are points of view depending on individual perspectives, nevertheless an overwhelming number would agree with him and if people aren't allowed to state their beliefs without fear of being cancelled then it is fair to assume that there is some sort of social engineering going on and to what end? that is at the fore for many who are feeling a creeping disquiet around a measure that is so severe we only have to put ourselves in such a position to know day to day life would be virtually impossible.

Primrose53

I don’t see anything odd about other banks refusing to open an account for Nigel Farage and others. They are like the medical and legal professions, they all cover each others backs.

I really think Farage should have named the Bank who said they were closing his accounts. Still doesn’t explain why his family members have had their accounts closed too.

It’s not back covering and I take exception to your comment that the legal profession does this - I have given expert testimony against another solicitor accused of negligence.

You perhaps don’t know how strict the anti-money laundering legislation is - someone complicit in money laundering such as a bank official turning a blind eye can face imprisonment. If a bank is approached by someone whose account has been closed they will obviously speak to the first bank. Banks give very coded references which are understood by those used to seeing them. I have seen a good many.

I’m not surprised if members of Farage’s family have had their accounts closed - if he received money from dubious sources there is always a danger of it finding its way to family.

NF is a contentious figure and whilst he has highlighted this problem, it does remain to be seen whether he has been unfairly targeted.

But, as I, and GSM, have pointed out, we will never know why he has had his accounts frozen.

It's pointless to build any sort of case based on pure speculation. Especially when it depends on the word of a publicity seeking populist.

I rarely agree with GSM but I do in this case.

Too many people here judging Farage from a point of political prejudice.

His experience is no different to thousands of people who have experienced exactly the same thing. Banked with a specific bank for years, suddenly told it is being closed, unable to open an account in any other bank.

Read this link www.dailymail.co.uk/debate/article-12256943/Its-not-just-Nigel-Farage-daughter-blocked-opening-bank-account.html which shows just how arbitary and unaccountable this system is and how the banks are over applying a system aimed specifically at foreign criminals and overseas corruption.

maddyone

What’s a ‘far right’ bank?

Well, it could be turn right at the bottom of the road and keep going as the crow flies, far from home.

As banks are closing branches, someone in a Head Office is sitting with a compass, drawing a circumference and finding your next nearest branch, which could be 15 miles across water and 4 hours by bus away.

What with charging charities monthly fees, refusing to accept cash collected by charity volunteers etc and now not allowing personal opinions which are not in fact unlawful and none of their business, perhaps they are becoming autocratic and decidedly customer unfriendly.

Banks can close accounts for many other reasons too Monica.
finance.yahoo.com/news/bank-closed-account-now-140024229.html

I’m not judging Farage or anybody else, I just can’t see the point in fevered speculation about something we have only heard one side of the story about in all these specific cases. It’s being whipped up by the right wing in the media, and the government have announced what they are doing about it. Everything else is just half truths.

You perhaps don’t know how strict the anti-money laundering legislation is

Yes, and so it should be.

I've had experience of this when transferring a (not huge) sum of money overseas to a DC for a wedding. The bank was very strict, formfilling had to be done on bank premises under the eagle eye of a bank official.

M0nica

Too many people here judging Farage from a point of political prejudice.

His experience is no different to thousands of people who have experienced exactly the same thing. Banked with a specific bank for years, suddenly told it is being closed, unable to open an account in any other bank.

Read this link www.dailymail.co.uk/debate/article-12256943/Its-not-just-Nigel-Farage-daughter-blocked-opening-bank-account.html which shows just how arbitary and unaccountable this system is and how the banks are over applying a system aimed specifically at foreign criminals and overseas corruption.

Any one of those who think that they have been badly dealt with by a bank can appeal to the financial ombudsman and in some cases get compensation.

This happens day to day without any alarm or need to make it a major issue.
Of course banks will make mistakes, but contact and evidence will but the matter right.

THAT IS NOT NEW.

What is new however is the way such a contentious populist figure as Farage has succeeded in convincing people this is a growing and somehow political issue.

You need to sit back and wait until Farage and his banking problem is resolved one way or another. If there is an issue the bank will have contacted the NCA - who take forever to look into these matters. But it will be resolved one way or another.

And the comments about my prejudice, regarding Farage. I have followed his activities for many years, and know enough to be convinced that he is someone who has dealt some very unpleasant and dodgy characters along with financial dealings that lead more than a little to be desired. He is not someone who I think is desirable as a political figure, rather someone who has inflicted great harm on the U.K.

So if that makes me prejudiced - then I am content.

Whitewavemark2

M0nica

Too many people here judging Farage from a point of political prejudice.

His experience is no different to thousands of people who have experienced exactly the same thing. Banked with a specific bank for years, suddenly told it is being closed, unable to open an account in any other bank.

Read this link www.dailymail.co.uk/debate/article-12256943/Its-not-just-Nigel-Farage-daughter-blocked-opening-bank-account.html which shows just how arbitary and unaccountable this system is and how the banks are over applying a system aimed specifically at foreign criminals and overseas corruption.

Any one of those who think that they have been badly dealt with by a bank can appeal to the financial ombudsman and in some cases get compensation.

This happens day to day without any alarm or need to make it a major issue.
Of course banks will make mistakes, but contact and evidence will but the matter right.

THAT IS NOT NEW.

What is new however is the way such a contentious populist figure as Farage has succeeded in convincing people this is a growing and somehow political issue.

You need to sit back and wait until Farage and his banking problem is resolved one way or another. If there is an issue the bank will have contacted the NCA - who take forever to look into these matters. But it will be resolved one way or another.

And the comments about my prejudice, regarding Farage. I have followed his activities for many years, and know enough to be convinced that he is someone who has dealt some very unpleasant and dodgy characters along with financial dealings that lead more than a little to be desired. He is not someone who I think is desirable as a political figure, rather someone who has inflicted great harm on the U.K.

So if that makes me prejudiced - then I am content.

Whitewavemark2 if you read the article in The I that merylsteeep has given a link to, you will see that the ombudsman is taking up to a year in many cases to investigate debanking claims.

People are losing their homes, reliant on their friends and family for a roof over their heads, food in their stomachs etc.

I have absolutely no reason to doubt Martin Lewis or The I, this is far bigger a problem than Mr. Farage.