Nigel Farage: Coutts Bank hit back at former Brexit Party leader amid closed account row

Coutts Bank has come under criticism from Tory MPs and the government over claims it closed Nigel Farage’s account due to his personal views. However, the bank has hit back saying it does not close customer accounts based “solely on the basis of legally held political and personal views”.

In a new statement, a Coutts spokesperson said: "We recognise the substantial interest in this case. We cannot comment on the detail given our customer confidentiality obligations. However, it is not Coutts’ policy to close customer accounts solely on the basis of legally held political and personal views.

"Decisions to close an account are not taken lightly and involve a number of factors including commercial viability, reputational considerations, and legal and regulatory requirements. 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 understand the public concern that the processes for ending a customer relationship, and how that is communicated, are not sufficiently transparent."

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 forward to working with government, the regulator and the wider industry to ensure that universal access to banking is maintained."

On Wednesday, Mr Farage claimed to have evidence showing Coutts closed his bank account because it did not agree with his political views. Following reports ministers are considering making new laws to stop banks closing customers’ accounts, Mr Farage, praised the government.

Under plans to protect free speech, banks could lose their licences if they blacklist people with controversial views, The Times reported. Mr Farage said: “Well done, the Government. I think this is one of the swiftest interventions I’ve seen by Government for many, many years.

“And I think that’s because this problem of the way banks have been behaving has been building up for years and years and years. Every MP will know of constituents, small businessmen and women who’ve literally been shut down by their banks with no reason given whatsoever. I also think that because of the politically exposed persons (PEPs) rule, I think they’re beginning to realise that this system is coming for them as well.”

The closure of Mr Farage’s accounts sparked outrage among senior Tory MPs, who have piled pressure on Coutts and its owner NatWest. Prime Minister Rishi Sunak said “this is wrong” and that “no one should be barred from using basic services for their political views”.