Nigel Farage‘s son debanked

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Thank you @Merion for your clearly set out and factual post putting this whole story/non-story into context.
(I take it I am permitted to comment Whitewave ? - perhaps you will wish to add this post to your count.
I wonder if we are all under similar scrutiny?
Number of posts?
Number of pages?
Which page?
Analysis?
It must necessitate a whole spreadsheet.

RosiesMaw2

Thank you @Merion for your clearly set out and factual post putting this whole story/non-story into context.
(I take it I am permitted to comment Whitewave ? - perhaps you will wish to add this post to your count.
I wonder if we are all under similar scrutiny?
Number of posts?
Number of pages?
Which page?
Analysis?
It must necessitate a whole spreadsheet.

No not necessary because we are not going in for pile ons I take it nor driving another poster away. I’m sure you must agree that it is unpleasant and unnecessary?

Not sure your posts are helping the situation Whitewavemark2

Merion Fri 26-Jul-24 10:47:56

So it was Wise? It's not a bank, it's a financial service.

(Just got home, haven't read all the posts).

I use Wise, found them prompt and efficient for moving money and cheaper than bank transfers. Mind you, I don't send vast sums, just birthday money etc.

We can debunk everything, then.

But yes, full of old people

I'm an old person .
I quite like the sound of Frinton.

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Callistemon213

*Merion Fri 26-Jul-24 10:47:56*

So it was Wise? It's not a bank, it's a financial service.

(Just got home, haven't read all the posts).

I use Wise, found them prompt and efficient for moving money and cheaper than bank transfers. Mind you, I don't send vast sums, just birthday money etc.

We can debunk everything, then.

Wise’s policy on PEPs or people connected to PEPs is clear:

wise.com/help/articles/2978067/whats-a-politically-exposed-person-pep

As a regulated financial institution, sometimes we need to confirm some details about you before we can complete your transfer. We’ll need to know if you’re a Politically Exposed Person (PEP) or connected to someone who is.

We typically consider you connected to a PEP if you’re related to them, or work with them. Here are some general guidelines:

•you’re their spouse, or civil partner
•you’re their child
•you’re their child’s spouse or civil partner
•you’re their parent
•you’re their sibling
•you have joint beneficial ownership of a legal entity, or a legal arrangement, or any other close business relationship with a PEP
•you have sole beneficial ownership of a legal entity, or a legal arrangement that is set up for the benefit of a PEP

What happens once I've been identified as a PEP?

We’ll review your account according to the regulatory requirements. We may get in touch to ask for more information and documents — for example, your proof of income, tax returns, and bank statements.

Wise asked Farage junior if he was the son of Farage senior (who is a PEP). He said he was. So they asked for bank statements in accordance with their policy. He declined on the grounds that they were asking for information on his account with them that they already had.

Wise isn’t a bank just an electronic money transfer facility. They must have been asking for statements from banks, wherever Farage junior does his other transactions.

This all sounds like a misundertanding that Farage has been happy to exploit because of what happened with Coutts.

That man will say anything for attention and publicity. It’s been a bit quiet for him lately, especially as he doesn't actually do any work to be commented on by the media

Merion

Callistemon213

Merion Fri 26-Jul-24 10:47:56

So it was Wise? It's not a bank, it's a financial service.

(Just got home, haven't read all the posts).

I use Wise, found them prompt and efficient for moving money and cheaper than bank transfers. Mind you, I don't send vast sums, just birthday money etc.

We can debunk everything, then.

Wise’s policy on PEPs or people connected to PEPs is clear:

wise.com/help/articles/2978067/whats-a-politically-exposed-person-pep

As a regulated financial institution, sometimes we need to confirm some details about you before we can complete your transfer. We’ll need to know if you’re a Politically Exposed Person (PEP) or connected to someone who is.

We typically consider you connected to a PEP if you’re related to them, or work with them. Here are some general guidelines:

•you’re their spouse, or civil partner
•you’re their child
•you’re their child’s spouse or civil partner
•you’re their parent
•you’re their sibling
•you have joint beneficial ownership of a legal entity, or a legal arrangement, or any other close business relationship with a PEP
•you have sole beneficial ownership of a legal entity, or a legal arrangement that is set up for the benefit of a PEP

What happens once I've been identified as a PEP?

We’ll review your account according to the regulatory requirements. We may get in touch to ask for more information and documents — for example, your proof of income, tax returns, and bank statements.

Wise asked Farage junior if he was the son of Farage senior (who is a PEP). He said he was. So they asked for bank statements in accordance with their policy. He declined on the grounds that they were asking for information on his account with them that they already had.

Wise isn’t a bank just an electronic money transfer facility. They must have been asking for statements from banks, wherever Farage junior does his other transactions.

This all sounds like a misundertanding that Farage has been happy to exploit because of what happened with Coutts.

Thank you Merion, for clarifying the situation and exposing Farage's dishonesty, yet again.

All these institutions seem to be setting themselves up as the moral arbiters of the nation. . WHOSE morals? Those of big businesses, like the BANKS? Do they debank extremist groups, hate preachers etc too? With many banks’ histories of greed and corruption, they are the very last organisation to be doing this and I’m sure it is illegal unless they have found a way to wriggle out of it, which given the rottenness at the core of many and the political strings they can pull, would not surprise me. It is a very dangerous threat to Democracy and a free society. Totalitarianism and the Thought Police beckon. We are far nearer the world of ‘1984’ than we think!

Its been established Amalegra that we are not actually discussing a bank, but a financial service, which has rules and guidelines presumably because it is proper in that sector to have checks and balances, and not be used in potentially dodgy political situations.

No one has been "forced" to use this service, nor is it the only option, so your remarks about "Totalitarianism and the Thought Police beckon" appear to be bewildering in this context.

maddyone

Cossy what a surprise if you find yourself in the seat next to you-know-who at the theatre.Whatever would you do?

If Frinton on Sea is populated by older people, then since NF is 61 it will probably suit him now and in the future.

I didn’t bump into you-know-who last night!

But I did have a lovely evening.

I’ve spent a lot of time in Frinton, it’s changed a lot across the last 20 years but it’s still very nice. About 60% of the population are 60+ but there are also lots of families living there.

They have a lovely long beach, a big green in front and some lovely beach huts, great restaurants and some independent shops.

Cossy

maddyone

Cossy what a surprise if you find yourself in the seat next to you-know-who at the theatre.Whatever would you do?

If Frinton on Sea is populated by older people, then since NF is 61 it will probably suit him now and in the future.

I didn’t bump into you-know-who last night!

But I did have a lovely evening.

I’ve spent a lot of time in Frinton, it’s changed a lot across the last 20 years but it’s still very nice. About 60% of the population are 60+ but there are also lots of families living there.

They have a lovely long beach, a big green in front and some lovely beach huts, great restaurants and some independent shops.

And Mr Farage

What more could you want!

Wonder what the locals think...

Must be more to it than we are being told!

Perhaps he hasn't actually been there very much, this weekend might be the first to catch a sighting.

Amalegra

All these institutions seem to be setting themselves up as the moral arbiters of the nation. . WHOSE morals? Those of big businesses, like the BANKS? Do they debank extremist groups, hate preachers etc too? With many banks’ histories of greed and corruption, they are the very last organisation to be doing this and I’m sure it is illegal unless they have found a way to wriggle out of it, which given the rottenness at the core of many and the political strings they can pull, would not surprise me. It is a very dangerous threat to Democracy and a free society. Totalitarianism and the Thought Police beckon. We are far nearer the world of ‘1984’ than we think!

It's not about being moral arbiters or picking on people with certain political connections.

Andy Haldane, the former long-standing Chief Economist of the Bank of England and current CE of the RSA, claims he was "de-banked".

www.cityam.com/ex-bank-of-england-economist-claims-he-was-debanked-like-nigel-farage/

It would appear that the computer algorithm was being over-zealous.

Wyllow3

Its been established Amalegra that we are not actually discussing a bank, but a financial service, which has rules and guidelines presumably because it is proper in that sector to have checks and balances, and not be used in potentially dodgy political situations.

No one has been "forced" to use this service, nor is it the only option, so your remarks about "Totalitarianism and the Thought Police beckon" appear to be bewildering in this context.

The rules and guidelines are there to improve transparency in the public realm for people in "political" roles and to cut down on money laundering.

Wyllow3

Wonder what the locals think...

Not a lot! (According to my friend, who has lived in Frinton for several years)

However he does have some welcoming him! They seem to think he can turn the clock back and out Frinton back to “the old days”!

However, if he does any work he’ll be pretty much up to his eyes in Clacton (pier ward) and Jaywick!

Cossy

Wyllow3

Wonder what the locals think...

Not a lot! (According to my friend, who has lived in Frinton for several years)

However he does have some welcoming him! They seem to think he can turn the clock back and out Frinton back to “the old days”!

However, if he does any work he’ll be pretty much up to his eyes in Clacton (pier ward) and Jaywick!

Frinton didn't have any pubs or chip shops until 2000. Do they want him to close them?

It’s a disgrace that this debanking is still happening. Either the FCA or the Government needs to step in and knock this on the head once and for all. It’s all to do with money laundering I believe but surely they need proof of actual misconduct rather than just debanking an innocent party.

lesleyfb

It’s a disgrace that this debanking is still happening. Either the FCA or the Government needs to step in and knock this on the head once and for all. It’s all to do with money laundering I believe but surely they need proof of actual misconduct rather than just debanking an innocent party.

It would appear the issue with Farage's son is that he wouldn't provide the evidence which would have proved his innocence.

Banks do have a duty to act, if money can't be accounted for, even if they don't know where it might have come from.

JaneJudge

I can't believe I am posting this but Nigel Farage has two grown up sons with his first wife who was Irish I believe and he has two daughters with his current wife (aren't they separated?) who is German

Ditto!
NF has two adult sons, in their 30’s, whose mother has an Irish name (may or may not be Irish!)
He also has two adult daughters, whose mother is German.
For some years, he has been in a relationship with a French woman.
All information very readily found on the c/o Mr Google.
However, I can find no reference whatsoever to NF’s sons being debanked.
I think the British Banking watchdog has recently issued a slap on the Banks deal with their relationships with PEPs (politically exposed persons). This may have led NF to talk about his experience and possibly speculate about the experience of other members of his family. However, it does not appear to have been reported elsewhere at the moment. I may well be about to be proved completely wrong on this!!

Sorry for all the typos - I was using the dictation function which doesn’t always quite get things right! And uses inappropriate capitals….