Nigel Farage's bank accounts drama hit with another twist

Nigel Farage has claimed he has evidence showing Coutts closed his bank account because of his views.

Writing in the Telegraph, he said he had gained access to a report by the bank's wealth reputational risk committee via a subject access request which allegedly mentioned reputational concerns because Farage's views "do not align" with their values.

According to what the Telegraph says are minutes of a meeting of Coutts' wealth reputational risk committee held on November 17 2022, they read: "The committee did not think continuing to bank NF [Nigel Farage] was compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organisation.

"This was not a political decision but one centred around inclusivity and purpose."

It comes after Farage originally made the claim last month and said he might leave the UK because he was struggling to get a bank account somewhere else. At the time, though, the BBC and the Financial Times said his account was closed because of insufficient financial funds not because of political reasons.

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Coutts requires its customers to borrow or invest at least £1m with the bank or hold £3m in savings.

"Between 2014 and 2016, when I first banked with Coutts, no problems ever arose. After Brexit became a reality, everything changed," Farage wrote in the publication.

He said the report claimed he was seen as "xenophobic and racist", repeated claims he was a fascist in his schooldays, and said his previous remarks were "distasteful and appear increasingly out of touch with wider society".

He also went on a Twitter rant about the matter:

Meanwhile Grant Shapps described Coutts' treatment of Farage, as "absolutely disgraceful" and urged the Financial Conduct Authority (FCA) "to do more on this".

Speaking to Sky News' Kay Burley, the energy secretary said: "I think it is absolutely disgraceful.

"I don't have to agree with everything Nigel Farage says to recognise that free speech is a very, very important part of our domestic life.

"What has happened with some of these banks through this regime, which is known as the PEP regime, or politically exposed people, is really actually scandalous.

"People shouldn't have their bank accounts closed because of their political or any other view. And banks shouldn't be refusing to open accounts on that basis as well."

He said there was a "very long-running problem" of banks "misapplying the guidance and rules" by not just closing them, but refusing to open them in the first place.

"It's unacceptable and ministers are working on this moment."

Coutts told the BBC: "Our ability to respond is restricted by our obligations of client confidentiality.

"Decisions to close accounts are not taken lightly and take into account a number of factors including commercial viability, reputational considerations, and legal and regulatory requirements."

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