Mr. Farage accused his former bank of talking about “absolute cobblers.” Credit: Don Arnold/Getty Images AsiaPac
Nigel Farage is back at his former Coutts bank after reporting that he closed his account because he didn't have enough cash.
Leading Brexiteer accused the bank of saying “absolute cobblers” after claiming he was immediately offered a NatWest account when he fell below the financial threshold to stay at Coutts.
Coutts — a brand owned by NatWest that banks for the ultra rich and royalty — requires its customers to borrow or invest £1 million in a bank or keep £3 million in savings when they become customers.
The BBC said Mr Farage's account was withdrawn because his funds fell below the required threshold.
Mr Farage released the decision last week, saying he was the victim of “egregious corporate bias.”
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On Tuesday, Mr. Farage said: “No one has mentioned any thresholds to me in the last 10 years.
“More importantly, they report that they offered me a NatWest account. Not once was I offered anything within the group until last Thursday, after I tore off the hafel and put this story out in public, and they clearly panicked.
“The idea that they were generous in offering me NatWest account is absolute nonsense. As for them, I had to leave the group, and they clearly knew about it.
Mr Farage also said he was not offered a business account, which made it much more difficult to work with him. he stayed in the bank.
Last week, the former leader of the Brexit Party said his bank accounts were closed “without explanation” and other major creditors refused to allow him to transfer funds to them.
He added that he may have been the victim of prejudice because of his Brexit campaign, or that he had broken politically exposed persons (PEP) rules designed to reduce banks' exposure to bribery and money laundering.
Jeremy Hunt will begin investigating allegations that lenders are closing accounts because they disagree with customer opinion. Credit: Lucy North/PA
Earlier this week, The Telegraph reported that Jeremy Hunt was to launch an investigation into allegations that overzealous lenders are closing accounts because they disagree with clients.
The Treasury is ready to recommend a tougher notice period. if payment providers, including large lenders, want to close a customer's account, and also require banks to provide more information about why they decided to close accounts.
Mr Farage said he was not offered an account NatWest. at a time when his Coutts account was closed, adding that the NatWest offer only came late last week after he went public about the issue.
A source told the BBC that the decision to close Mr. Farage's Coutts account was a commercial decision and was in no way made for political reasons.
Coutts also closed Mr. Farage's business account for Thorn in the Side Limited. This prestigious bank does not offer business banking services to clients who are not also private clients.
Mr Farage told the BBC: “You mean all the other banks say it was PEP affair, but Coutts didn't? Draw your own conclusions.”
Cutts declined to comment.
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