British banks will now have to give full explanations if they wish to close down a customer’s account after Nigel Farage’s was shut down by Coutts. The former UKIP leader turned GB News host has been moaning about his bank account being closed.
In a letter sent to him, shes said she believed ‘very strongly that freedom of expression and access to banking are fundamental to our society and it is absolutely not our policy to exit a customer on the basis of legally held political and personal views’.The government extended the notice period for a forced account closure from 30 days to 90 days, which it said gives customers more time to challenge the decision through the Financial Ombudsman Service or find a replacement bank.
‘Banks occupy a privileged place in society, and it is right that we fairly balance the rights of banks to act in their commercial interest, with the right for everyone to express themselves freely. ‘These changes will boost the rights of customers – providing real transparency, time to appeal and making it a much fairer playing field.’
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