Nigel Farage has announced the launch of a website aimed at supporting individuals who have faced the denial of bank accounts, following the controversy over the closure of his Coutts
account. Farage took to social media to express his determination to "fight back against the big banks who have let us down" and referred to the situation as a "scandal."
The issue arose after Mr. Farage received a report from the bank suggesting that his political views played a role in the closure of his account. This revelation led to the resignation of two bank executives, Dame Alison Rose and Peter Flavel.
Despite facing criticism and calls to step down, NatWest chairman Sir Howard Davies has pledged to continue his role to ensure the bank's stability.
In late June, Farage stated that his account had been closed without any given reason, refraining from identifying the bank at that time. Initially, the BBC reported that the account was closed due to Farage no longer meeting Coutts' wealth threshold. The BBC later apologized for the inaccuracies in their reporting.
Launching the AccountClosed.org website through a video on social media, Mr. Farage emphasized that many individuals feel powerless when faced with such situations, lacking representation and support. He referred to the emerging situation as a "major national scandal," underscoring the indispensability of having a bank account in the modern era.
The website's campaign focuses on advocating for individuals and small to medium-sized businesses that have experienced unjust treatment from banks and financial service companies, particularly when accounts have been abruptly closed and essential services withdrawn.
According to UK legislation, every person in the country has the legal right to hold a basic bank account that enables them to conduct financial transactions. Banks are prohibited from discriminating against consumers based on nationality, place of residence, sex, race, color, ethnic or social origin, genetic features, language, religion, belief, political opinion, or any other factor.
In response to the situation, NatWest appointed City law firm Travers Smith to conduct an independent investigation into the closure of Farage's account and the handling of information surrounding the issue.
The treatment of Mr. Farage has garnered criticism from former Prime Minister Liz Truss, who expressed her dismay in the Sunday Telegraph, raising concerns about an increasingly opaque system and the treatment of politicians whose views may not align with the establishment. Photo by Gage Skidmore from Peoria, AZ, United States of America, Wikimedia commons.