Time for a PEP talk

[Pale Rider]

Yep. Our resident snowflake kicked off when I posted this:


I seem to be getting under his skin a bit

Ah, so it's all my fault.

Another fail from a sad and scared keyboard warrior.

 

[Deleted member 159]

Banks provide all kinds of accounts, most with some form of “qualifying” condition, eg minimum monthly deposit, minimum number of direct debits per month…., and with a variety of “perks”, eg overdraft, cash back….. Whilst it may be an obligation to provide a BASIC account (which would typically exclude such qualifying conditions, AND, perks, I see nothing wrong with closing a customers account if they do not meet the qualifying conditions.

This all kicked off because Coutts used a dossier of N Farage political views. That was their main reason. Coutts tried to spin it via NatWest CEO has falling below the required funds.



Now that maybe true, but it's not disputed that many thousands of Coutts clients do not have the required balance of funds.

It can't be criminal because Coutts are known to have major criminals on their books.

It was a political decision because they didn't like his Brexit stance, alleged xenophobia, racist comments. Even the fact he liked a post by Ricky Gervais.

 

[BoldonLad]

Do you not agree that a bank account is a right for every individual? Even a business account if you are running a business.?

What is so contentious about that right.

Or is it just the fact Nigel Farage is the spearhead of the campaign

If you said "basic bank account", and "basic business account" then, I may agree, although presumably, Coutts does not provide such a thing to ANYONE, since they are "Specialist" bank. https://www.gov.uk/government/collections/basic-bank-accounts

 

[BoldonLad]

This all kicked off because Coutts used a dossier of N Farage political views. That was their main reason. Coutts tried to spin it via NatWest CEO has falling below the required funds.



Now that maybe true, but it's not disputed that many thousands of Coutts clients do not have the required balance of funds.

It can't be criminal because Coutts are known to have major criminals on their books.

It was a political decision because they didn't like his Brexit stance, alleged xenophobia, racist comments. Even the fact he liked a post by Ricky Gervais.

That may of may not be true, personally, I don't care for Nigel's views myself, but, I agree, and, have already said, upthread, that Ms Rose deserved to walk the plank, given her unforgivable loose talk and subsequent denials.

As for the bolded bit, I would wish to see more details, I suspect that, obnoxious although he may be, Nigel is not the best/worst (depending on your point of view) example of such characteristics in their Customer base.

 

[Deleted member 159]

If you said "basic bank account", and "basic business account" then, I may agree, although presumably, Coutts does not provide such a thing to ANYONE, since they are "Specialist" bank. https://www.gov.uk/government/collections/basic-bank-accounts

We are not talking about Coutts anymore. We are talking about the whole of the banking sector. N Farage has been refused accounts at 10 other UK banks.

I'm saying that if you wanted to open an account with say Halifax bank, you could apply and be without excessive fuss be granted an account.

Without evidence of illegal activity then it should be a done deal

You then could apply to have business account, providing necessary documents to prove you have an operating business.

 

[Deleted member 159]

That may of may not be true, personally, I don't care for Nigel's views myself, but, I agree, and, have already said, upthread, that Ms Rose deserved to walk the plank, given her unforgivable loose talk and subsequent denials.

As for the bolded bit, I would wish to see more details, I suspect that, obnoxious although he may be, Nigel is not the best/worst (depending on your point of view) example of such characteristics in their Customer base.

You may not like his views, but that should not be a barrier to him opening new accounts elsewhere in the UK. I would never complain that Gina Miller has an account, well did until recently for her political party.

In fact N Farage has publicly stated he is in full support of her having an account

 

[BoldonLad]

We are not talking about Coutts anymore. We are talking about the whole of the banking sector. N Farage has been refused accounts at 10 other UK banks.

I'm saying that if you wanted to open an account with say Halifax bank, you could apply and be without excessive fuss be granted an account.

Without evidence of illegal activity then it should be a done deal

You then could apply to have business account, providing necessary documents to prove you have an operating business.

Is that Basic accounts?, if yes, I think, I have already made clear, he has a case, in my view.

I refer you again to https://www.gov.uk/government/collections/basic-bank-accounts, Halifax is in that list

 

[Deleted member 159]

Is that Basic accounts?, if yes, I think, I have already made clear, he has a case, in my view.

I refer you again to https://www.gov.uk/government/collections/basic-bank-accounts, Halifax is in that list

Why should someone who had a personal account and a business account be limited to a absolute stripped down basic account.

I presume you have one or more accounts.

Would you not be outraged if your bank decided tomorrow to close your account ?

 

[glasgowcyclist]

From the Coutts Bank SAR

“I wanted to make you aware of a commercial exit decision we have made on the account of Nigel Farage. The relationship has been below commercial criteria for some time and upon review of Nigel’s past public profile and connections, the perceived risks for the future weighed against the benefit of retention the decision was taken to exit upon repayment of an existing mortgage.

In making the decision risk factors including accusations of links to Russia, controversial public statements which were felt to conflict with the bank’s purpose and the possibility, speculated upon in the press and not denied, of re- entry to politics were taken into account. There is however also clearly a risk of negative publicity in exiting which was accepted. The exit was expected to be in Q3 2023 however the mortgage has now been repaid early and the security released which is triggering an earlier notification of exit to the client.”. [my bold]

So he no longer met the criteria for his account.

The reputational risk he also presented to the bank meant they saw no purpose in extending services to him. I doubt any other ‘exclusive’ bank will want him either.

 

[Deleted member 159]

In making the decision risk factors including accusations of links to Russia, controversial public statements which were felt to conflict with the bank’s purpose and the possibility, speculated upon in the press and not denied, of re- entry to politics were taken into account. There is however also clearly a risk of negative publicity in exiting which was accepted

So nothing illegal. The cowardly MP who made the Russian allegations Chris Bryant-will not repeat them outside parliament.

Everything else is supposition.

Already confirmed there are thousands with balance below Coutts threshold.

Coutts made a massive PR under estimated gamble.

I doubt N Farage will want to go back to Coutts but he is taking advice

 

[multitool]

Why should someone who had a personal account and a business account be limited to a absolute stripped down basic account.

Because the law permits it.

 

[Deleted member 159]

Would you not be outraged if your bank decided tomorrow to close your account ?

Because the law permits it

Same question to you. Why should a person who has more than a basic account had them removed?

 

[multitool]

Same question to you. Why should a person who has more than a basic account had them removed?

Because the law permits it.

 

[Deleted member 159]

Because the law permits it.

There's the rub, banks have become too powerful

 

[multitool]

Where were all you hard right gammons when your man 'Tommy Robinson' was denied banking?

https://www.nelsonslaw.co.uk/tommy-robinson-finances/