Nigel Farage fell below the financial threshold required to hold an account at Coutts.
Nigel Farage fell below the financial threshold required to hold an account at Coutts.
Nigel Farage's account with the bank Coutts is not being closed for political reasons, the BBC is told.
TLDR 🤖
Nigel Farage, former leader of the UK Independence Party and Brexiteer, had his bank account at Coutts, a private bank for the wealthy, closed due to not meeting the required financial threshold. Farage suggested the closure was politically motivated. However, insiders familiar with the situation stated it was a commercial decision. Coutts requires customers to borrow or invest at least ÂŁ1m, or hold ÂŁ3m in savings. Farage was offered a standard account at NatWest, the owner of Coutts, but disputes the timing of this offer. He also reported that attempts to open accounts with other banks were unsuccessful, citing his status as a "Politically Exposed Person" (PEP) as the reason for rejections. The exact cause of the Coutts account closure remains a point of contention between Farage and the banks.
You're viewing a single thread.
It did seem concerning that a person can be left without access to a bank in this day and age. But I found it frustratimg he choose to frame his issue as those remainers out to get him.
One note man plays one note, more at 11.
They offered him a regular NatWest account. In my view, being forced to bank with the rest of us doesn't make you a non person, but perhaps I don't share the same contempt for the general population that Mr Man of the People Farage has.