Nigel Farage fell below the financial threshold required to hold an account at Coutts. (www.bbc.co.uk)

submitted 1 year ago by _rowdy_p_@feddit.uk to c/uk_politics@feddit.uk

22 comments fedilink hide all child comments

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 £1m, or hold £3m 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 are viewing a single comment's thread
view the rest of the comments

this post was submitted on 04 Jul 2023

97 points (100.0% liked)

UK Politics

3086 readers

17 users here now

General Discussion for politics in the UK.
Please don't post to both !uk_politics@feddit.uk and !unitedkingdom@feddit.uk .
Pick the most appropriate, and put it there.

Posts should be related to UK-centric politics, and should be either a link to a reputable news source for news, or a text post on this community.

Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.

If you think "reputable news source" needs some definition, by all means start a meta thread. (These things should be publicly discussed)

Posts should be manually submitted, not by bot. Link titles should not be editorialised.

Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.

!ukpolitics@lemm.ee appears to have vanished! We can still see cached content from this link, but goodbye I guess! :'(

founded 1 year ago

MODERATORS

tom@feddit.uk

GreatAlbatross@feddit.uk

flamingos@feddit.uk