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Nigel ‘Mr Brexit’ Farage had his bank account shut down as a result of his ties to former President Donald Trump, tennis star Novak Djokovic, seemingly spurious accusations of ties to Russia, and his positions on Brexit, vaccines, LGBT issues, and others which were deemed by Coutts bank to “not align with our values”.
Contrary to reports in the BBC and the Financial Times, in which an unnamed Coutts bank source claimed that Nigel Farage had fallen below a financial threshold to maintain his account, a subject access request filed by the Brexit leader shows that the main motivation was actually political in nature.
A 40-page document produced by the bank and provided to Mr Farage and The Daily Telegraph showed that the bank acknowledged multiple times that he fulfilled the “economic contribution criteria for commercial retention”, meaning that it was not for lack of funds that his account was shut down.
In the document, the bank was shown to have decided in November of last year that it did not believe that continuing to bank with Mr Farage was “compatible with Coutts given his publicly-stated views that were at odds with our position as an inclusive organisation”. In an apparent attempt to cover their tracks, the bank claimed that it was not a “political decision but one centred around inclusivity and purpose.”