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Careful what you say, or you may end up without any banking facilities.

(480 Posts)
M0nica Wed 19-Jul-23 08:44:03

The DT headline news today is that Nigel Farage's bank, Coutts, unilaterally shut down his bank account with them, not, as they said originally because his assets fell below a minimum figure but because:

He doesn't align with our values He is seen as zenophobic and racist. He is considered by many to be a disingenuous grifter. Being associated with NF represents a material and ongoing reputaional risk to the bank

So now you know, we have a a new set of self-appointed censors in the land. Hold the wrong political views - and thats it, your bank account will be closed down.

And why should they stop at political views? Will the banks start closing the bank accounts of any one with contentious ethical or religious views, or because they are in the public eye for some aspect of their behaviour.

Will Huw Edwards, Philip Schofield, Katie Price, Prince Harry have their bank accounts closed down because the banks, who daily process millions, if not billions of £s for drug dealers, corrupt members of corrupt regimes, whose people starve while they stash £millions away in secret bank accounts, consider that the above named ^do not align with their values'

Who gave the banks, and when, the right to censor what we do and what we think and withdraw, that absolute essential of life today - a bank account - because someone's political or other views offend their delicate consciences?

growstuff Mon 31-Jul-23 15:13:26

eazybee

1. Client (NF) has recently been declassified from Higher Risk PEP to Lower Risk PEP – he will be declassed completely at next review if he remains out of politics for the next 12 months.
2. Following the declassification, the client’s EC is now sufficient to retain on commercial basis.
"The Committee did not think continuing to bank NF was compatible given his publicly stated views were at odds with our position as an inclusive organisation."
Coutts dossier 17.09.2023.

Farage is still listed as a director and leader of Reform UK, which is a political party, so presumably is still classed as a lower risk PEP.

Namsnanny Mon 31-Jul-23 15:04:34

fancythat

I had no idea there are so many people who literally hate. Until I came onto this site.

Well, there is a lot of hate in the dossier written about NF by AR. Gossip and hate.

I agree though, calling people names etc isn't very pleasant to read.

But we can no longer look to our politicians (or bankers it seems) to debate without using pejorative labels.

So I imagine it slips it's way onto any site.

Shame all the same.

Oreo Mon 31-Jul-23 13:21:44

vintage1950

Thanks for the video, Fleurpepper. The evidence of Farage's racism is pretty damning. Farage was never an MP, but his political influence has been remarkable, especially on the Conservative Party.

But it has bugger all to do with the subject of this thread.
Banks have been are are, closing accounts for all sorts of political or PC reasons.
Nigel Farage and Gina Millar polar opposites but had accounts closed.
Most sensible people are glad that this subject is now being so talked about which forces banks to think carefully what they do in future.

eazybee Mon 31-Jul-23 12:56:16

1. Client (NF) has recently been declassified from Higher Risk PEP to Lower Risk PEP – he will be declassed completely at next review if he remains out of politics for the next 12 months.
2. Following the declassification, the client’s EC is now sufficient to retain on commercial basis.
"The Committee did not think continuing to bank NF was compatible given his publicly stated views were at odds with our position as an inclusive organisation."
Coutts dossier 17.09.2023.

fancythat Mon 31-Jul-23 12:17:52

As others of said, the situation is not just about NF

www.dailymail.co.uk/news/article-12355893/Now-sex-workers-say-banked-accounts-routinely-frozen-closed-moral-judgements-profession.html

I am a Christian. Do I think those sorts of workers should have their accounts frozen because of what they do? No I do not.

[not going to look for another source, Believe or not].

Callistemon21 Mon 31-Jul-23 10:10:27

Fleurpepper

Callistemon21

I'm not keen on Farage but what has happened to him has happened to countless others for unknown reasons . People have been protesting about it for years but it has taken this breach of confidentiality to bring it to everyone's attention.

Not at all. He fell below the very clear criteria required by Coutts- he doesn't deny that he no longer has the funds to fulfil those- so was offered another account at a sister bank.

Did you watch the video I linked to, about this history of Farage from teenage years. Loathsome is the right word for Farage- he has supported fascism from a young age.

Oh dear.

No matter what you or I or the bank think about Farage it was a breach of his confidentiality for Rose to blab to the BBC and against Data Protection Laws.

Primrose53 Mon 31-Jul-23 09:57:34

tickingbird

Exactly eazybee but some are incapable of accepting this because they’re blinded by their hatred of NF.

At least we are able to see them.

👏👏

tickingbird Mon 31-Jul-23 09:43:43

Exactly eazybee but some are incapable of accepting this because they’re blinded by their hatred of NF.

At least we are able to see them.

eazybee Mon 31-Jul-23 09:36:12

Statement from the dossier compiled by Coutts, 17.11,2023.

(NF's) economic contribution is solid and funds are sufficient to retain a commercial basis. (repeated several times.)

The reason this story is continuously aired is because some people keep on repeating the same inaccuracies, and unless they are challenged, others will believe them.

vintage1950 Mon 31-Jul-23 09:12:10

Thanks for the video, Fleurpepper. The evidence of Farage's racism is pretty damning. Farage was never an MP, but his political influence has been remarkable, especially on the Conservative Party.

ronib Sun 30-Jul-23 20:41:09

This story first hit the headlines about a month ago. I did have some sympathy at first for NF but am now not watching the news. I understand the injustice and ineptitude - but it’s possible to tell me a few times and I do usually ‘get it’. I don’t need to have it continuously aired.

Primrose53 Sun 30-Jul-23 18:34:02

Fleurpepper

Callistemon21

I'm not keen on Farage but what has happened to him has happened to countless others for unknown reasons . People have been protesting about it for years but it has taken this breach of confidentiality to bring it to everyone's attention.

Not at all. He fell below the very clear criteria required by Coutts- he doesn't deny that he no longer has the funds to fulfil those- so was offered another account at a sister bank.

Did you watch the video I linked to, about this history of Farage from teenage years. Loathsome is the right word for Farage- he has supported fascism from a young age.

And what is your source because I have never heard that he had insufficient funds.

Everybody’s bank accounts fluctuate so are you saying that everyone whose savings drop below that level gets their account closed? That’s stupid because the next week you may have well over the limit. It was purely political.

Fleurpepper Sun 30-Jul-23 18:00:13

Callistemon21

I'm not keen on Farage but what has happened to him has happened to countless others for unknown reasons . People have been protesting about it for years but it has taken this breach of confidentiality to bring it to everyone's attention.

Not at all. He fell below the very clear criteria required by Coutts- he doesn't deny that he no longer has the funds to fulfil those- so was offered another account at a sister bank.

Did you watch the video I linked to, about this history of Farage from teenage years. Loathsome is the right word for Farage- he has supported fascism from a young age.

fancythat Sun 30-Jul-23 17:10:51

I had no idea there are so many people who literally hate. Until I came onto this site.

Primrose53 Sun 30-Jul-23 17:04:56

Callistemon21

I'm not keen on Farage but what has happened to him has happened to countless others for unknown reasons . People have been protesting about it for years but it has taken this breach of confidentiality to bring it to everyone's attention.

Yes that but also the fact that lots of people were ashamed or embarrassed to admit that they had their accounts closed. NF has had enough mud chucked at him over the years and he always says what he thinks so he’s not bothered what people think of him now. He also has the platform to enable himself to champion this and blow the lid right off! 😉

Callistemon21 Sun 30-Jul-23 13:42:32

I'm not keen on Farage but what has happened to him has happened to countless others for unknown reasons . People have been protesting about it for years but it has taken this breach of confidentiality to bring it to everyone's attention.

Primrose53 Sun 30-Jul-23 12:06:58

Fleurpepper
Tickingbird and Callistemon21 have explained this perfectly.👏👏

It’s a shame that you cannot express yourself without using words like loathsome and tragic. I am not a fan of Gina Miller but I wouldn’t speak like that of her.

Kandinsky Sun 30-Jul-23 12:05:42

Well exactly tickingbird these people are dangerous. They’re so wrapped up in their hate for anyone who basically isn’t ‘them’ that they lose all control - they literally can’t see the real issue here. It’s all about just hating Nigel Farage.
And they expect people to take them seriously?

I don’t bother reading posts by a few posters on here now because I know they’ll be full of hateful bulls**t.

maddyone Sun 30-Jul-23 12:02:14

Good posts Callistemon and tickingbird.
Your jury analogy is true, I hope I’m never accused of a crime with some of these people on the jury. Evidence means nothing to them, merely feelings!

tickingbird Sun 30-Jul-23 11:54:30

I can’t believe that some on here still think it’s about Farage. It’s got nothing to do with supporting him for his views; it’s about the banks. How many times does it have to be said? Some people (thank goodness) are capable of judging objectively and putting their prejudices to one side. It’s terrifying to think what some would be like if they were on a jury and Farage (or anyone else they disliked) were on trial. No amount of evidence to the contrary would be considered - guilty!!!

Callistemon21 Sun 30-Jul-23 11:23:58

It is seriously worrying that many still support him, like his mate Trump - and quite a few here on GN. Tragic

I don't think you're getting it, FleurPepper!
😀

It's not Farage most people are supporting, it is that he is shining a light into the dubious practices of banks. What has happened with his bank account is and has happened to thousands of other people, and, what is worse, is that someone at the top of banking thought it was fine to discuss this with a BBC reporter and that this information should be disclosed to the public.

We have Data Protection Laws in this country and it is astonishing that Rose thought it was ok to break them.
She must have thought, perhaps, that people dislike Farage and that they would approve of what she has done. That was beyond stupid.
It has nothing to do with liking or disliking Farage.

Fleurpepper Sun 30-Jul-23 10:24:09

Exactly, and she didn't make such a fuss, and certainly the gutter Press didn't take it up and ran with it!

What a loathsome individual, with such a loathsome history

fb.watch/m5ULxFx-ko/

It is seriously worrying that many still support him, like his mate Trump - and quite a few here on GN. Tragic.

DiamondLily Sun 30-Jul-23 10:09:15

Fleurpepper

vegansrock

I find it hard to get excited about Farage and his posh bank account - he can bank elsewhere. What about the expats who had their U.K. bank accounts closed directly because of Brexit? What about millions who are struggling to make ends meet? What about the climate emergency? None of this on the front page of the Telegraph.

But they say 'it has nothing to do with Brexit' doh sad

Well, Gina Millar, the high profile, anti-Brexit supporter/campaigner, has also had her account closed, so it's not just a nasty campaign against Brexiteers...

www.theguardian.com/business/2023/jul/28/gina-miller-true-and-fair-party-monzo-bank-account

Primrose53 Sun 30-Jul-23 09:55:00

Grant Schapps, Aaron Banks have experienced problems with their banks as well as small businesses and ordinary individuals.

NF says 1,000 bank accounts a DAY are being closed! That includes both private and business.

His website is launching today for all the people who have been affected by this.

Accountclosed.org

Namsnanny Sat 29-Jul-23 15:18:10

Fleurpepper

British people who live in the EU, paying tax in the UK and getting their pensions paid in the UK in Sterling- are not money launderers! Their accounts were closed as a direct consequence of Brexit.

Catch up Fluerpepper🤣🤣
I await your apology to NF when and if his campaign rectified some or all the the problem🤭