Business
Nigel Farage launches website to tackle ‘major scandal’ of de-banking
Nigel Farage has launched a website to tackle de-banking following the fallout from the closure of his account with Coutts.
The former UKIP and Brexit Party leader sparked a crisis at the prestigious bank’s parent company NatWest after complaining he had been excluded over his political views.
It led to the chief executives of both financial firms resigning and Mr Farage receiving multiple apologies.
But he is not backing down, and has now launched a website called AccountClosed.org to “fight back against the big banks that have let us down”.
“We will build together, I believe, if you engage, a very, very significant and powerful group of people,” he said.
“And parliament will listen, ministers will listen, prime ministers and leaders of the opposition will listen.”
Mr Farage introduced the website in a short video on Twitter – or X, as Elon Musk has rebranded it.
His site asks visitors if they think it’s “time to stop” the “major scandal” of banks “unfairly closing accounts”.
People are invited to enter their email address to receive updates on the campaign, which aims to “influence policymakers and regulatory bodies to implement fairer practices and stricter guidelines”.
Truss backs Farage
Mr Farage has earned sympathy for his crusade from Prime Minister Rishi Sunak and his short-lived predecessor Liz Truss, who said “heads have rightly rolled” in the wake of the row.
Writing in The Sunday Telegraph, she said rules and risk tests for politicians have made “elected representatives automatically subject to added suspicion”.
Ms Truss – whose mini-budget last year saw mortgage rates hiked, and many deals pulled completely – said “not being able to get a mortgage or open a new bank account” would put people off wanting to enter politics.
Read more:
Key points from Coutts dossier on Farage
What are PEPs and can banks close their accounts?
Please use Chrome browser for a more accessible video player
Farage: ’10 banks turned me down’
NatWest chairman remains in post
It comes as NatWest chairman Sir Howard Davies resists pressure to quit, saying it’s vital for the bank’s stability.
A search is under way for a new chief executive after the resignation of Dame Alison Rose, who admitted being the source behind an incorrect BBC story about Mr Farage’s Coutts account.
It said it had been closed as he had fallen below the level of wealth required, not because of his political views.
Dame Alison’s resignation was followed by that of Coutts chief executive Peter Flavel.