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.
I think that’s one of the annoying things about Farage (regardless of how you feel about his political views): he’s such a talented campaigner and speaker, yet he frames everything as Leave v Remain. It’s 2023, man, try to raise some other points of view.
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.
It’s funny, this was rattling around in the back of my mind as something that might have happened.
I didn’t want to speculate, as it could also have been AML, but that tallies perfectly.
Some people see wealth management company accounts as status symbols.
Honestly, I’m surprised he made such a big thing of it, unless he desperately wanted to make it a “Farage vs Establishment” story.
Why do people still care about this slag? Stop giving him press time.
Amazing what happens when Russia turns off the money taps. Of course, he wanted to portray it as political when in reality it’s because he no longer has a seat at the toff table due to dwindling coffers. Let him slide further into irrelevance and desperation. Couldn’t happen to a nicer man.
