Nigel Farage's Banking Woes: UK Independence Party Leader Claims Exclusive Bank Coutts Closed His Accounts
Nigel Farage, a former UK Independence Party leader and Brexit campaigner, has not denied claims that he has too little money at the exclusive bank Coutts to keep an account.
Coutts, which has links to the royal family, reportedly required clients to have at least £1m in investments or borrowing, including a mortgage, or £3m in savings.
Farage claimed that the bank closed his accounts without explanation, but it is understood that the bank makes decisions based on commercial viability, reputational reasons or legal or regulatory requirements.
Rishi Sunak, the UK's chancellor of the exchequer, has spoken to the regulator about the issue and Prime Minister Boris Johnson has said that banks should not close accounts based on a person's views.
Nigel Farage, a prominent Brexit supporter, has stated that he wants there to be a legal right for people to have a bank account in the UK.
He also hinted that he may leave the UK and potentially move to the US.
Farage claimed that the bank closed his accounts without explanation, but it is understood that the bank makes decisions based on commercial viability, reputational reasons or legal or regulatory requirements.
Rishi Sunak, the UK's chancellor of the exchequer, has spoken to the regulator about the issue and Prime Minister Boris Johnson has said that banks should not close accounts based on a person's views.
Nigel Farage, a prominent Brexit supporter, has stated that he wants there to be a legal right for people to have a bank account in the UK.
He also hinted that he may leave the UK and potentially move to the US.
