Nigel Farage challenges reviews of checking account closure over inadequate funds in UK Information

Nigel Farage claims the account was closed as a consequence of his standing as a ‘politically uncovered particular person’ (Image: Carl Courtroom/Getty Photos)

Nigel Farage has pushed again towards reviews his account at non-public financial institution Coutts was closed as a result of he fell beneath the wealth degree required to maintain it.

The previous chief of Ukip and the Brexit Social gathering stated final week that he not had entry to his checking account, claiming he was barred as a consequence of ‘blatant company prejudice’ over his political opinions.

Nevertheless, the BBC reported this morning that Coutts, a prestigious non-public lender utilized by the ultra-rich and members of the Royal Household, had shut the account as a result of it didn’t meet their monetary threshold.

Coutts requires clients to borrow or make investments at the least £1 million with the financial institution or maintain a minimal of £3m in financial savings.

The BBC stated Farage doesn’t dispute that he has not met that threshold, however he informed their World At One programme: ‘I’ve been with them for a decade and in the mean time I’ve more cash sitting on present account than I’ve had for many of that point.’

In a video posted to Twitter, he stated: ‘They’re telling the press I don’t meet their wealth threshold.

‘Properly, they by no means talked about that earlier than within the earlier 10 years.’

He stated he was then provided a typical account with NatWest, the proprietor of Coutts, however solely after talking publicly concerning the subject final Thursday.

At no level within the final 10 years did Coutts give me a min threshold.

Extra importantly, the provide of a Natwest private acct solely got here after I went public final Thursday.

No enterprise answer was provided, they usually even denied I used to be a PEP, which is why 9 different banks have stated no.

— Nigel Farage (@Nigel_Farage) July 4, 2023

Farage has stated he believes the closure is linked to his standing as a politically uncovered particular person (PEP), which generally leads to additional monitoring by banks.

Such persons are thought of larger danger by monetary establishments, as their energy and affect means they’re thought of extra liable to involvement in bribery or corruption.

Farage claimed 9 different banks had turned down his bids to open accounts with them as a result of standing.

Requested concerning the allegations that the financial institution had closed the Brexiter’s account due to his views, Prime Minister Rishi Sunak stated: ‘The Chancellor has been very clear about this and spoken to the regulator.

‘Clearly, we’ve to respect folks’s proper to free speech and that shouldn’t be an excuse to shut anybody’s account and that’s not what we’d count on.’

The Treasury stated it was already wanting into whether or not banks and regulators have been dealing with PEPs too harshly, whereas the federal government is at present investigating whether or not folks’s accounts have been being closed as a consequence of their political opinions.

NatWest declined to touch upon Farage’s claims.

Get in contact with our information crew by emailing us at [email protected].

For extra tales like this, verify our information web page.