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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?

Primrose53 Wed 26-Jul-23 09:03:45

I am wondering how much damage this has done to Nat West bank. My husband closed his account and I suspect many others have too.

Urmstongran Wed 26-Jul-23 08:32:30

The questions should now be asked about the Board - when an employee breaks what must be a cardinal rule, there should be no vote of confidence, but only dismissal. In my opinion.

MerylStreep Wed 26-Jul-23 08:23:49

TerriBull

Anjem Choudary is charged with directing a terrorist organisation, hmm! given he's been on under surveillance for quite some while for what he advocates, just pondering as to whether he has a bank account, and if so, whether he meets his bank's high minded values, not that I'm suggesting his? would be with Coutts, Better or worse than Farage that's the million dollar question? One we are reliably informed is a Spiv shock and a xenophobe and the other well he'd just like to commit mass murder!

Good point, but, Choudary holds a trump card: the race card, that trumps everything.

Primrose53 Wed 26-Jul-23 08:15:42

fantastic news that Alison Rose has resigned.

They chose the wrong person to pick on. Nigel Farage was badly wronged and has played a blinder. 👏👏👏

FannyCornforth Wed 26-Jul-23 08:14:49

Farrage on Today now.

Ailidh Wed 26-Jul-23 07:37:05

I don't have any particular problem with any private business refusing someone's custom (unless it was the only business that provided an essential service) but giving someone's private information to the media is disgraceful. It's right she went.

Katie59 Wed 26-Jul-23 07:29:02

Gone because personal information was publicized, trying to justify the decision to debank Farage.
Don’t expect any changes, if the bank wants to get rid of you they will do so, if not by closing account then by higher charges.

M0nica Wed 26-Jul-23 07:20:59

Well, she has gone. There was really no other outcome.

The whole system for closing bank accounts must be reviewed. The rules drawn-up to prevent money laundering and crime have been misused by the banks to de-bank people for all kinds of reasons, often based on incorrect information and when challenged they have retreated behind tbe money laundering regulations. This must change.

Namsnanny Tue 25-Jul-23 21:50:39

Yes it's amazing that it has gone so far.

fancythat Tue 25-Jul-23 21:03:32

Many things have changed in Banking since my day.
I cant see how it would have changed that a Bank employee can go about blabbing, no matter how far up the ladder they are.

Namsnanny Tue 25-Jul-23 20:57:12

The banks are all signed up to ESG nowadays arn't they fancythat? So the rules and guidelines have changed quite a lot behind the scenes.

fancythat Tue 25-Jul-23 20:48:17

I cant see how she can possibly stay.
Back in the day, i worked in a high street bank. we were not allowed to say who we had seen in the Bank, and definitely not who banked there.

When it is delayed as to a resignation nowadays, it is interesting to see who else puts their foot well and truly in it.

Primrose53 Tue 25-Jul-23 20:35:32

Namsnanny

If she does leave, no doubt she will have an exorbitant pension, and/or golden handshake.

We could only wish Primrose53?grin

They always do! I know she’s in a different league altogether but I have seen bigwigs at our County Council walk away from their six figure salaries after doing very poor work and lots of complaints and they get nearly as much in pensions and golden handshakes as their salary.

Namsnanny Tue 25-Jul-23 19:40:00

If she does leave, no doubt she will have an exorbitant pension, and/or golden handshake.

We could only wish Primrose53?grin

Primrose53 Tue 25-Jul-23 19:05:24

Shocking that Coutts have confidence in her after that! She has broken the Data Protection laws and cannot be trusted yet they think she’s still doing a good job!

let’s face it, she on over £5 million a year so she must have massive savings herself and should resign. She doesn’t need the job!

Namsnanny Tue 25-Jul-23 18:07:33

Another so called apology from AR, saying she was wrong, but she has the backing of the Bank.

Well, she should resign and them with her.

No on should have the right to give private information to a 3rd party.

Or make judgements on a persons suitability to actually have an account with them.

Namsnanny Mon 24-Jul-23 20:46:10

Not the wedding cake theory again grin

varian 1) who are the same people because I'm not one of them.
Unless you direct your comment to those exact people it is meaningless.

The other half of your comment has been answered many times above, but frankly if you can't see whats wrong with what you suggest, there is no point in explaining yet again.

But I will, slippery slope, it might be you who is de banked next.
I may disagree with you, but I defend to the death your right to say it

Attributed to Voltaire, but not confirmed.

varian Mon 24-Jul-23 20:06:05

It is interesting that the same people who thought that the NI bakers were entitled to refuse to bake a cake for a gay couple, think Coutts have no right to refuse to bank Farage because they disagree with his political views.

Primrose53 Mon 24-Jul-23 19:59:42

NF says he has only just started! I back him 100%. If anybody knows what being wronged really feels like, they would understand. I have been and would definitely not let it rest here.

JRM was just on TV saying AR has broken the code of confidentiality which you expect from people like your bank and your doctor.

I think a lot more will come out and thousands of people will be thanking NF.

Namsnanny Mon 24-Jul-23 19:23:21

If banks can willy nilly disclose private information we are on a hiding to nothing.

No, I hope NF carries on digging until he can get at least a name to attach to this social rot, of people ganging up on those who hold ideas and thoughts they don't like.

Namsnanny Mon 24-Jul-23 19:15:47

You are right DL

I've said from the beginning it isn't about NF but it is about the treatment he and others have received.

But you are wrong about JRM not being bothered, also Andrew Griffith, has been trying to do what he could before this blew up.

The fact that NF could headline and bring together all the elements that were necessary is very important.

This isn't over, NF or others haven't received alternative bank accounts.

There is more to come.

AR is or will be thrown under the bus to close this down.

Is she the source or did she authorize the source?
There still has been no disclosure.

DiamondLily Mon 24-Jul-23 18:29:13

The BBC have apologised. Farage says he has accepted it. Time to move on now - many, over a long time, have had bank accounts closed with no explanation.

Rees Mogg and anyone else hadn't bothered about what the banks were doing.

It's not all about Farage.🙄

Namsnanny Mon 24-Jul-23 17:53:54

JRM said it's too little too late. BBC afflicted with torpor.

AR must own up to who broke NF confidentiality.
Then take the wrap.

Primrose53 Mon 24-Jul-23 17:29:57

Breaking news……. BBC have apologised to Nigel Farage and about time too.
He has thanked them.
More about that @ 7pm on GB News.

tickingbird Mon 24-Jul-23 09:32:54

TerriBull. Well said and, unless something’s changed, he’s on full benefits.

We must be the only country in the world that pays for housing and gives financial support to those that would kill and maim its citizens.

I wonder if someone will come on listing all his transgressions?