Coutts bank hits back amid Nigel Farage account row

Coutts bank has said it does not close customer accounts “solely on the basis of legally held political and personal views” as it came under heavy criticism for terminating its relationship with Nigel Farage.

A number of Conservatives publicly criticised the bank after the former Brexit Party leader claimed his account was closed down.

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 described a document he claimed showed Coutts closed his bank account because it did not agree with his political views as “prejudiced and nasty”.

Sky News has not seen the document in question.

Mr Farage claimed 10 banks have refused to open an account in his name, saying he may “effectively become a non-person” without a method of banking.