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HomePolitics USNigel Farage returns to Coutts Bank amid account row. Politics News

Nigel Farage returns to Coutts Bank amid account row. Politics News

Coutts Bank has said it does not close customer accounts “solely based on legitimate political and personal considerations” after it faced heavy criticism for ending its relationship with Nigel Farage.

A number of Conservatives publicly criticized the bank after the former Brexit Party leader claimed his account had been frozen.

In a new statement, a Coutts spokesman said: “We recognize the considerable interest in this matter. We cannot comment in detail given our customer confidentiality obligations.

“However, it is not Coutts’ policy to close customer accounts based solely on legitimate political and personal considerations.

“Decisions to close an account are not taken lightly and involve a number of factors including commercial viability, reputational concerns, and legal and regulatory requirements.

“We recognize the critical importance of access to banking. When it became clear that our client was unable to obtain banking facilities elsewhere, and as he has publicly confirmed, he was offered alternative banking facilities with NatWest.

“We understand the public concern that processes for terminating customer relationships, and how they are communicated, are not sufficiently transparent.”

He added: “We welcome. Expected HM Treasury recommendations in this areaWith a request to prioritize the review of regulatory rules relating to politically exposed persons.

“We look forward to working closely with government, regulators and the wider industry to ensure universal access to banking is maintained.”

On Wednesday, Mr Farage explained a document. Claims that Coutts closed his bank account. Because it didn’t agree with his political views he was “bigoted and dirty”.

Sky News has not seen the document in question.

Mr Farage claimed 10 banks had refused to open accounts in his name, saying he could “effectively become a non-person” without banking procedures.

Source by [Sky News]



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