Coutts financial institution has stated it doesn’t shut buyer accounts “solely on the basis of legally held political and personal views” because it got here below heavy criticism for terminating its relationship with Nigel Farage.
A variety of Conservatives publicly criticised the financial institution after the previous Brexit Party chief claimed his account was closed down.
In a brand new assertion, a Coutts spokesperson stated: “We recognise the substantial interest in this case. We cannot comment on the detail given our customer confidentiality obligations.
“However, it isn’t Coutts’ coverage to shut buyer accounts solely on the idea of legally held political and private views.
“Decisions to shut an account should not taken evenly and contain quite a few elements together with industrial viability, reputational concerns, and authorized and regulatory necessities.
“We recognise the critical importance of access to banking. When it became clear that our client was unable to secure banking facilities elsewhere, and as he has confirmed publicly, he was offered alternative banking facilities with NatWest. That offer stands.
“We perceive the general public concern that the processes for ending a buyer relationship, and the way that’s communicated, should not sufficiently clear.”
They added: “We welcome the anticipated HM Treasury recommendations in this area, alongside the ask to prioritise the review of the regulatory rules relating to politically exposed persons.
“We look ahead to working with authorities, the regulator and the broader business to make sure that common entry to banking is maintained.”
On Wednesday, Mr Farage described a doc he claimed confirmed Coutts closed his checking account as a result of it didn’t agree along with his political beliefs as “prejudiced and nasty”.
Sky News has not seen the doc in query.
Mr Farage claimed 10 banks have refused to open an account in his title, saying he could “effectively become a non-person” and not using a methodology of banking.
Source: information.sky.com”