The Bank of Farage

[jfman]

A reasonably competent lawyer would manage to turn that on its head. A reason to bin him approached and they gave due consideration to keeping him but on balance decided against.

They reference in their documents higher costs associated with managing Farage as a customer, and if he’s paid off his mortgage presumably he’s not paying them interest for any other reason.

Someone of minimal status/no public standing who falls through the thresholds is unlikely to create an additional burden on their business.

You can actually turn Neil’s statement - because it’s politically driven - on its head. One of the big ironies is the right calling for more regulation simply because of one man, EU red tape protecting him (just as it did for many others across a range of matters and he campaigned vociferously to remove them). One troublesome customer riding roughshot over the rights of a business in the free market, etc etc. Sure, their rules aren’t rigid but if you don’t like them you can go elsewhere. Capitalism, innit?

Originally Posted by jfman

A reasonably competent lawyer would manage to turn that on its head. A reason to bin him approached and they gave due consideration to keeping him but on balance decided against.

They reference in their documents higher costs associated with managing Farage as a customer, and if he’s paid off his mortgage presumably he’s not paying them interest for any other reason.

Someone of minimal status/no public standing who falls through the thresholds is unlikely to create an additional burden on their business.

You can actually turn Neil’s statement - because it’s politically driven - on its head. One of the big ironies is the right calling for more regulation simply because of one man, EU red tape protecting him (just as it did for many others across a range of matters and he campaigned vociferously to remove them). One troublesome customer riding roughshot over the rights of a business in the free market, etc etc. Sure, their rules aren’t rigid but if you don’t like them you can go elsewhere. Capitalism, innit?

Yeah, I’m mostly enjoying the ambiguity to be honest. While the principle that people should not be de-banked for their politics is important (and if that does turn out to have occurred, there should be consequences), mostly I’m enjoying watching the place burn. Farage has been caught exaggerating what he’s suffered (obviously he has not been shut out of the entire banking system, even though he suggested he had been); NatWest plc’s Lord Snooty division has been caught with its pants down saying nasty things about someone without any apparent understanding of GDPR and the possibility of their notes going public.

[nomadking]

Originally Posted by Chris

Yeah, I’m mostly enjoying the ambiguity to be honest. While the principle that people should not be de-banked for their politics is important (and if that does turn out to have occurred, there should be consequences), mostly I’m enjoying watching the place burn. Farage has been caught exaggerating what he’s suffered (obviously he has not been shut out of the entire banking system, even though he suggested he had been); NatWest plc’s Lord Snooty division has been caught with its pants down saying nasty things about someone without any apparent understanding of GDPR and the possibility of their notes going public.

He was refused by 10 banks, which would account for quite a few of the major ones. If politics and opinions aren't to be a factor, then you don't look into them and then use that in a report. The terms used in the report, clearly demonstrate that they were only interested in the biased views of others, eg where else did they pick up the term "grifter" from?

Originally Posted by nomadking

He was refused by 10 banks, which would account for quite a few of the major ones. If politics and opinions aren't to be a factor, then you don't look into them and then use that in a report. The terms used in the report, clearly demonstrate that they were only interested in the biased views of others, eg where else did they pick up the term "grifter" from?

I neither know nor care where they got the term from. I simply laugh at their stupidity at writing it down in a file Farage was legally entitled to see at any time.

Whether other banks turned him down or not is a matter of conjecture. Farage has claimed they did. I’m not aware what actual evidence he has tendered to back up that claim. However, his claim he has been shut out of the entire banking system is manifestly false because Coutts’ parent company offered to transfer his business to one of their products.

[1andrew1]

Originally Posted by nomadking

He was refused by 10 banks, which would account for quite a few of the major ones.

Don't know where you're getting this idea from. If he banked at Coutts before, chances are that he was looking for another private bank. A quick Google shows there's quite a few of these. https://www.comparebanks.co.uk/banktype/private/

[jfman]

Originally Posted by 1andrew1

Don't know where you're getting this idea from. If he banked at Coutts before, chances are that he was looking for another private bank. A quick Google shows there's quite a few of these. https://www.comparebanks.co.uk/banktype/private/

If it’s true he’s getting knocked back from pleb banks on that scale it’s likely there’s something more to it. On balance, I do think it’s more likely he’s approaching exclusive institutions.

Coutts wouldn’t be obliged in his subject access request to disclose anything indicative of ongoing or previous criminal investigations (even if they came to nothing).

[1andrew1]

Originally Posted by jfman

If it’s true he’s getting knocked back from pleb banks on that scale it’s likely there’s something more to it. On balance, I do think it’s more likely he’s approaching exclusive institutions.

Coutts wouldn’t be obliged in his subject access request to disclose anything indicative of ongoing or previous criminal investigations (even if they came to nothing).

Also little point in approaching the high street banks if NatWest has already agreed to take him on.
I suspect that if he didn't strictly qualify for Coutts, he wouldn't qualify for its peers either. But it makes for a good story and keeps Farage in the public eye.

Obviously, the list of what Farage has not disclosed at the moment is long. Beginning with who he's banking with at the moment.

[Pierre]

Originally Posted by 1andrew1

Don't know where you're getting this idea from. If he banked at Coutts before, chances are that he was looking for another private bank. A quick Google shows there's quite a few of these. https://www.comparebanks.co.uk/banktype/private/

Why is Coutts referred to as "Private" bank?

They are a subsidiary of Natwest Group, which is public.

[Dave42]

Originally Posted by Pierre

Why is Coutts referred to as "Private" bank?

They are a subsidiary of Natwest Group, which is public.

but Coutts is a bank for the rich not the normal public

Originally Posted by Pierre

Why is Coutts referred to as "Private" bank?

They are a subsidiary of Natwest Group, which is public.

It describes the type of business the bank does, not its ownership structure. It’s a euphemism for ‘rich people only’.

[ianch99]

Originally Posted by jfman

If it’s true he’s getting knocked back from pleb banks on that scale it’s likely there’s something more to it. On balance, I do think it’s more likely he’s approaching exclusive institutions.

Coutts wouldn’t be obliged in his subject access request to disclose anything indicative of ongoing or previous criminal investigations (even if they came to nothing).

And there is the essence of this - given he is a proven & habitual liar, he would need to provide proof that (high street) banks other than Coutts refused his application to open an account.

Hypothetically speaking, if a high profile racist/bigot with a very public social media footprint approached a "private" bank and asked to open an account, I suspect that in most cases they would be politely turned away. With more and more accounts coming from the younger base, such a customer would pose an active deterrent to these high net worth individuals joining. Sort of obvious really ...

[nomadking]

Originally Posted by 1andrew1

Also little point in approaching the high street banks if NatWest has already agreed to take him on.
I suspect that if he didn't strictly qualify for Coutts, he wouldn't qualify for its peers either. But it makes for a good story and keeps Farage in the public eye.

Obviously, the list of what Farage has not disclosed at the moment is long. Beginning with who he's banking with at the moment.

He was approaching other banks before the offer from NatWest came through, and that was AFTER he publicly raised the issue.

[jfman]

Originally Posted by nomadking

He was approaching other banks before the offer from NatWest came through, and that was AFTER he publicly raised the issue.

And NatWest should be commended for stepping in when the market has clearly decided that they aren’t willing to serve Mr Farage. Especially given the importance of everyday banking services in terms of participating in 21st century society.

Originally Posted by nomadking

He was approaching other banks before the offer from NatWest came through, and that was AFTER he publicly raised the issue.

We’ve been over this point four days ago, and your statement is still not factual.

[Mr K]

Originally Posted by nomadking

He was approaching other banks before the offer from NatWest came through, and that was AFTER he publicly raised the issue.

Nomad old chap is there anything else going on in your life that is more important ?
I suspect there is , like the rest of the entire country, including Nige.