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

(332 Posts)
Anniel Mon 03-Jul-23 13:11:00

I could hardly believe the news that a bank closed all the accounts of Nigel Farage. Although no reason was given, evidently a Labour MP, Chris Bryant, used parliamentary privilege to accuse Mr Farage of taking £546,000 from Russia Today for media appearances. Mr Bryant was challenged to repeat the accusation outside Parliament but he refused Mr Farage denied the allegations but Mr Bryant refused to repeat his accusations in public because Farage would sue him.
A Vicar in Yorkshire had his Yorkshire Building Society account. Closed because he thought the BS had too many Pride flags being flown.
No mention so far on GRANSNET so I thought it should be discussed. I am sure Grans must have an opinion. You may not like Mr Farage, but should banks have the right to close your account without proper explanation because they do not like your political opinion or they do not support free speech?

sally45 Tue 04-Jul-23 17:52:02

I think that this trend is exetremely worrying and should be a concern for us all. Look at history!

Debsododaband Tue 04-Jul-23 17:52:39

I thought it was because he banked with Coutts and you have to have a certain amount coming in and savings up to 3 million pounds. He was offered another account with one of their other banks, as in Nat West, but he refused.

growstuff Tue 04-Jul-23 17:54:47

Debsododaband

I thought it was because he banked with Coutts and you have to have a certain amount coming in and savings up to 3 million pounds. He was offered another account with one of their other banks, as in Nat West, but he refused.

And lied about it. He's now claiming he was only offered a NatWest account on Thursday after this all blew up, but there's a video of him on his TV programme a few weeks ago stating he was offered a NatWest account.

growstuff Tue 04-Jul-23 17:58:28

Germanshepherdsmum

Thanks growstuff. The Companies House details are seriously worrying. Why would anyone entrust money to this company?

No idea! I was just posting the findings of my Google search.

I find it a bit strange that a company set up in 2019 would choose Metro Bank, which in 2016 became the first bank in the world to offer customers to sign up under a third gender:

www.businessinsider.com/metro-bank-is-the-first-to-offer-a-third-gender-option-for-customers-2016-11?r=US&IR=T

PS. I'm not making any comments/judgment on the rights or wrongs of the trans movement.

Germanshepherdsmum Tue 04-Jul-23 18:00:41

None of it makes sense growstuff.

growstuff Tue 04-Jul-23 18:06:05

Germanshepherdsmum

None of it makes sense growstuff.

No, it doesn't.

And I can't help feeling that Farage has jumped on a bandwagon to further his identity politics agenda.

Jaberwok Tue 04-Jul-23 18:12:31

He was offered a Bank account,but only a personal one, not one for business. That's why it was refused.

Germanshepherdsmum Tue 04-Jul-23 18:14:48

Agreed growstuff.
What evidence do you have that NatWest didn’t offer him a business account Jaberwok?

BeverleyJB Tue 04-Jul-23 18:30:55

Germanshepherdsmum

What is Duty International Bank? A Google search comes up with nothing and your link didn’t work, Metro couldn’t have closed the account if they didn’t own this other bank.

Read my post.
It's NOT a bank - the company mentioned is the support company for Our Duty which is an organisation for parents who wish to protect their children from gender identity ideology.
The support company had its account closed by Metro Bank.
There's nothing worrying, seriously or otherwise about the Companies House record!

lemsip Tue 04-Jul-23 18:34:25

Real reason Nigel Farage kicked out of bank account revealed after 'establishment' rant

BBC has now reported that Mr Farage's account with Coutts - a private bank used by the Royal Family - had been shut down because he didn't have enough money.

Coutts's website states that "Clients are required to maintain at least £1m in investments or borrowing (mortgage), or £3m in savings."

People familiar with the decision said it was "commercial", telling the BBC: "The criteria for holding a Coutts account are clear from the bank's website."

Foxygloves Tue 04-Jul-23 18:37:58

However, ever eager to cry "Foul", old Nige was not prepared to let the facts get in the way of a good story hmm

hallgreenmiss Tue 04-Jul-23 18:50:50

MerylStreep

hallgreenmiss

The information on this has changed

www.dailymail.co.uk/news/article-12262757/Nigel-Farage-lashes-Kings-bank-Ex-UKIP-leader-slams-Coutts-shutting-account.html

Farage’s continued whining about this will make it more difficult for people who have genuinely had their accounts unfairly closed to get resolutions

Absolute B*££#@ks. Who knew this was going on before Farage brought it to our attention.

I knew!

growstuff Tue 04-Jul-23 18:55:48

BeverleyJB

Germanshepherdsmum

What is Duty International Bank? A Google search comes up with nothing and your link didn’t work, Metro couldn’t have closed the account if they didn’t own this other bank.

Read my post.
It's NOT a bank - the company mentioned is the support company for Our Duty which is an organisation for parents who wish to protect their children from gender identity ideology.
The support company had its account closed by Metro Bank.
There's nothing worrying, seriously or otherwise about the Companies House record!

The support offered is conversion therapy. Why would an organisation promoting this choose a bank which had publicly declared that it supported trans customers and presumably wanted to attract them? There are loads of other banks.

Germanshepherdsmum Tue 04-Jul-23 18:56:08

If you call it a bank and say you had an account with it what are people to assume Beverly? There is one officer and no assets in excess of liabilities - you don’t think that’s worrying? If it was calling itself a bank that’s extremely worrying to me, if not to you, and perhaps Metro have done you a favour.

Casdon Tue 04-Jul-23 19:04:59

hallgreenmiss

MerylStreep

hallgreenmiss

The information on this has changed

www.dailymail.co.uk/news/article-12262757/Nigel-Farage-lashes-Kings-bank-Ex-UKIP-leader-slams-Coutts-shutting-account.html

Farage’s continued whining about this will make it more difficult for people who have genuinely had their accounts unfairly closed to get resolutions

Absolute B*££#@ks. Who knew this was going on before Farage brought it to our attention.

I knew!

I’d hazard a guess that most of the Guardian nerds knew, and probably people who read other newspapers too, it’s been reported on for years, particularly since that Swiss bank fiasco.

growstuff Tue 04-Jul-23 19:07:45

Germanshepherdsmum

If you call it a bank and say you had an account with it what are people to assume Beverly? There is one officer and no assets in excess of liabilities - you don’t think that’s worrying? If it was calling itself a bank that’s extremely worrying to me, if not to you, and perhaps Metro have done you a favour.

It wasn't calling itself a bank.

It seems to be a one man band - part of a movement with roots in the US.

The man's tweets are indicative of his real agenda.

growstuff Tue 04-Jul-23 19:09:37

Its only income comes from Paypal donations, Ethereum and Bitcoin.

Primrose53 Tue 04-Jul-23 19:11:14

growstuff

Debsododaband

I thought it was because he banked with Coutts and you have to have a certain amount coming in and savings up to 3 million pounds. He was offered another account with one of their other banks, as in Nat West, but he refused.

And lied about it. He's now claiming he was only offered a NatWest account on Thursday after this all blew up, but there's a video of him on his TV programme a few weeks ago stating he was offered a NatWest account.

Total rubbish! Last week he said he was going to make an announcement on his show at 7pm. 15 minutes before the programme aired he received a phone call from the Bank offering him a personal account only. This was no good to him as he needed a business account so he could pay his staff.

Germanshepherdsmum Tue 04-Jul-23 19:17:16

Indeed growstuff. Why the poster called it a bank and said she had an account with it which was shut down by Metro is rather puzzling. Perhaps she would like to clarify that.

Germanshepherdsmum Tue 04-Jul-23 19:20:10

You obviously believe Farage Primrose. Do you have any independent evidence to confirm that he has told the truth about anything in this saga?

growstuff Tue 04-Jul-23 19:26:49

Primrose53

growstuff

Debsododaband

I thought it was because he banked with Coutts and you have to have a certain amount coming in and savings up to 3 million pounds. He was offered another account with one of their other banks, as in Nat West, but he refused.

And lied about it. He's now claiming he was only offered a NatWest account on Thursday after this all blew up, but there's a video of him on his TV programme a few weeks ago stating he was offered a NatWest account.

Total rubbish! Last week he said he was going to make an announcement on his show at 7pm. 15 minutes before the programme aired he received a phone call from the Bank offering him a personal account only. This was no good to him as he needed a business account so he could pay his staff.

Errrmmm! No! It's not total rubbish. I saw the announcement long before the programme you're referring to.

Primrose53 Tue 04-Jul-23 19:32:02

Farage is on TV now saying although the BBC said Farage was below the wealth threshold he denies this. Many Coutt’s customers have been in touch with the BBC to say they are also below the threshold but they haven’t had their accounts closed.

He is very angry that Coutt’s have been discussing his finances with the BBC and rightly so.

Primrose53 Tue 04-Jul-23 19:39:17

growstuff

Primrose53

growstuff

Debsododaband

I thought it was because he banked with Coutts and you have to have a certain amount coming in and savings up to 3 million pounds. He was offered another account with one of their other banks, as in Nat West, but he refused.

And lied about it. He's now claiming he was only offered a NatWest account on Thursday after this all blew up, but there's a video of him on his TV programme a few weeks ago stating he was offered a NatWest account.

Total rubbish! Last week he said he was going to make an announcement on his show at 7pm. 15 minutes before the programme aired he received a phone call from the Bank offering him a personal account only. This was no good to him as he needed a business account so he could pay his staff.

Errrmmm! No! It's not total rubbish. I saw the announcement long before the programme you're referring to.

It is rubbish! This is 29 June when he made his announcement and when he received a phone call 15 mins before the programme was broadcast. He was not offered a personal account prior to this. So what you are saying IS rubbish!

youtu.be/R0F3OVfrQRA

growstuff Tue 04-Jul-23 19:41:04

Farage's company is called "Thorn in the Side". He's the only employee. Which staff do you mean?

growstuff Tue 04-Jul-23 19:42:18

Sorry Primrose it's not rubbish. How do you think I knew about the offer of a NatWest account? I'm not a clairvoyant.