What do you think communism is?
Banks closing accounts!
- Thread starter Offsideagain
- Start date
What do you think communism is?
If a bank account isn't a right, all things being equal, within a democratic society, how do you manage to operate a fiat economy of private accumulation (like, at all)?
Is it your right to have access to a rich person's banking facility while being a slightly less rich person and also being a notorious gobshite a professional Putin ****
If the argument is that Coutts should be making their products available to everyone no matter their financial or political leanings then fair play. Good luck with getting Coutts on board though.
Having access to *a* bank account is a right, that everyone has. That doesn’t mean everyone has a right to a *particular* account at a *particular* bank. That is the fundamental issue here.
Coutts can set their own rules for who gets to bank with them, and it appears that they were actually waiving their rules for some time in Farage’s case. But as soon as he paid up his mortgage, they no longer had an economic incentive to continue to do so, and so they stopped. That’s what happened here. It’s not news. It’s a distraction.
Workers of the world, open a bank account!
For the first time in my life I might actually think Farage is in the right on something.
I wasn't talking about Farage, I meant the general public. Farage can feck off.
Won't get fooled again. They will, and again and again and again and again.........
Champion of “we should be able to do what we want” cries when a bank has the audacity to do what they want.
Like all libertarians he’s a champion for “I should be able to do whatever I want” which often conflicts with the rights of others but naturally his rights take precedence
Narrators voice: “but he wasn’t in the right”
Hasn't the document from Coutts confirmed he was correct?
The documents from Coutts showed that the decision was a commercial one and that they had in fact been overlooking his failure to meet their eligibility requirements for quite some time.
He also gave them a number of risk and compliance concerns.
The trigger point was him settling his mortgage.
So no, any suggestion of political bias is unsurprisingly nonsense.
I think in the UK everyone has the right to basic bank account. The bank can only refuse for specific reasons eg you haven't provided proper ID, they suspect you're a criminal, etc.
Maybe that is why coutts "downgraded" him and transfered his accounts to Natwest that is from the same banking group. They didnt refuse service.
Like not everyone has access to all the credit cards or certain services. Also better conditions.
I find it quite enjoyable that the anti-woke hysteria is making some tories go to war against a bank, and a particularly elitist one too 
Another free market enterprise evangelist who is appalled by free market enterprise when it affects them.
This brings me so much joy. Take back control (of your posh bank account)
I feel 10% dumber by being forced to think about this shite, which is probably the point.
Because banks are private institutes and the whole nature of the economy is based around liberalisation of those institutions.
If operate a society that insists you have an account then the goverment should be legislating to ensure everyone has access to one. This goes against Farage whole libatarian shtick though.
In more general terms, then it is pretty much impossible to operate in society these days without a bank account. Think they used to offer accounts via the Post Office which anyone could open but not sure if they are still a thing. I know banks offer basic accounts with basic facilities like direct debits and a debit card but without access to any further services or credit. No idea if the banks have the right to refuse these or not. They probably do.
Anyway, doubt Farage would be satisfied only having a basic account. He got offered a Nat West one and still kicked off. He doesn't give a shit about people's access to banking facilities. Just that he lost his prestigious and very exclusive Coutts account.
They can but it's generally only if the person can't provide acceptable ID and even then we'll take things like a utility bill, employee ID card or even a referral from a client we know well (this is in Canada but I'd assume similar for other western countries).
Seems at odds with the doc unless I have seen some edited version or something.
Those are both direct quotes from Coutts.
All this is absolute horseshit. I hate banks as much as it's humaly possible, but it's impossible for me to believe a single word Grifter Farage says. Also, does he not have any other bank accounts? To be absolutely clear, the "right to a bank account", in the legal systems where it even exists, doesn't mean the right to an account in this or that bank, it doesn't mean you have the right to open an account at Coutts.
Russian Exposure
PEP
MMM..don't stop.
https://www.spectator.co.uk/article/the-coutts-files-on-nigel-farage/
Those quotes were from November 2022, at which point they were seeking to continue the relationship with NF, but there were also comments in the same report that they would be seeking to exit this year.
He's basically doing his usual shit, making it all about him when it appears to be a commercial decision, which the same report even warns that he will do!
Yeah I can't see anyone of them letting you open an account without some form of ID due to money laundering regs etc. If you don't have that then god knows what you do.
I bet the ID requirements are less stringent than what's required to vote though
Just demonstrates how Farage has friends at the heart of Government. They are willing to change the laws for one man. Makes you sick.
At least they haven’t offered him an account at Coutts.
At least they haven’t offered him an account at Coutts.
That's helpful if that is the timeline, thank you. I assume he must have other accounts elsewhere because he surely has more than £1m in assets?
Ironically the right to a basic bank account was introduced under EU legislation in 2015 whilst the UK was an EU country.
https://europa.eu/youreurope/citize...egally resident,where the bank is established.
Right to a basic bank account
You may want or need to open a bank account in your home country or in another EU country.
If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.
Warning
This right does not apply to other types of bank account, such as savings accounts.
Surely charlatan Farage does not accept this legislation and wants it removed from UK law.
https://europa.eu/youreurope/citize...egally resident,where the bank is established.
Right to a basic bank account
You may want or need to open a bank account in your home country or in another EU country.
If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.
Warning
This right does not apply to other types of bank account, such as savings accounts.
Surely charlatan Farage does not accept this legislation and wants it removed from UK law.
The government once again informing us they’re a bunch of corrupt cnutts
Yeah, doesn't it just. Country is falling apart, basic services are striking every other day, but they can find time to investigate this non-issue.
I see the prick is also asking whether they broke GDPR rules - brought in and enforced by the very same EU he helped remove us from due to their ability to regulate industries.
Doctors on strike,3 bye-elections, Charlie boy getting a 45% increase from the taxpayer and what's the most important story in BBC land...Nigel fecking Farage.
Why do think the Tories have suddenly jumped in to support Farage this week. Need a story to keep them out the headlines