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Coutts VS Nigel Farage


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Wisbech Eagle Flag Truro Cornwall 04 Aug 23 11.38pm

Originally posted by Spiderman

I suspect many people only have 1 account, I do, as do my family. Why would we have more? Do know no money has been lost?

I expect many families do have just one account and for any in joint names only the PEP would lose access, thus preserving the ability to function. That’s just a presumption though. Even if the account was closed it would surely be a simple matter for the non PEP part of the family to transfer everything to a new account in their name with the notice given?

How could money be lost? They aren’t raiding the account. They are closing it.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Wisbech Eagle Flag Truro Cornwall 04 Aug 23 11.53pm

Originally posted by Spiderman

So controversial opinions are deemed u suitable for a bank account, I consider many views on the trans issue controversial, if I ran a bank would it be acceptable in your eyes for me to close accounts of those who hold the views? Surely if that is discrimination so is closing Farage’s account

My reading of the process is that two considerations are reviewed. Firstly, if an account holder is a PEP whose public status is such that their account requires a lot more costly oversight than the income it generates, then closing it is considered. Secondly, if the account holder is someone whose public persona is regarded as potentially capable of causing reputational damage to the bank within their target market, that too might cause them to consider withdrawing service. If both considerations are found then the likelihood obviously increases.

If a bank targeted Mail and Express readers and watchers of GB News they might well think those who promoted trans equality controversial to their market.

That’s a matter for any business to determine itself.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Teddy Eagle Flag 04 Aug 23 11.55pm

Originally posted by Wisbech Eagle

I expect many families do have just one account and for any in joint names only the PEP would lose access, thus preserving the ability to function. That’s just a presumption though. Even if the account was closed it would surely be a simple matter for the non PEP part of the family to transfer everything to a new account in their name with the notice given?

How could money be lost? They aren’t raiding the account. They are closing it.

There are 1000 accounts being closed each day. Are they all PEP related?

 

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 12.00am

Originally posted by cryrst

A lot were allegedly business accounts. When suppliers or subbies arnt paid you lose business and potentially the whole company. Business accounts are not that easy to set up as they potentially have a lot more evidence needed and come with special conditions and even overdrafts to help with cash flow.
Maybe you don’t understand that’s how it works !

The key word there is allegedly. Who is doing the alleging?

I believe a proper enquiry is underway to determine the real facts.

One of which is many thousands of UK citizens had their accounts closed as an indirect effect of Brexit. Something that good ol’ Nige keeps very quiet about.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 12.02am

Originally posted by Teddy Eagle

There are 1000 accounts being closed each day. Are they all PEP related?


Evidence?

For what reason?

By the banks or account holder themselves?

I have closed redundant accounts many times.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Teddy Eagle Flag 05 Aug 23 12.10am

Originally posted by Wisbech Eagle


Evidence?

For what reason?

By the banks or account holder themselves?

I have closed redundant accounts many times.


Already provided.

[Link]

 

Tim Gypsy Hill '64 Flag Stoke sub normal 05 Aug 23 1.42am

Originally posted by Wisbech Eagle

In that nobody died, that’s true, but it was never the case in the bakery case. That was always about exposing discrimination.

There was no discrimination involved with Farage. He wasn’t debanked for his opinions. He was debanked because those opinions were controversial. If they were controversial left wing opinions he would have been equally at risk.

Of course, Farage claims otherwise and people like you buy his spinning so there’s little chance of you seeing that.

That his opinions are controversial to the bank (and you) is irrelevant. His opinions were the reason he was debanked. His opinions are not controversial to everyone in this country. Hence the accusation of "cancelled by Coutts because of his views".

Not that you could ever accept that someone you dislike could be wronged.

 


Systematically dragged down by the lawmakers

cryrst Flag The garden of England 05 Aug 23 5.46am

Originally posted by Wisbech Eagle

I expect many families do have just one account and for any in joint names only the PEP would lose access, thus preserving the ability to function. That’s just a presumption though. Even if the account was closed it would surely be a simple matter for the non PEP part of the family to transfer everything to a new account in their name with the notice given?

How could money be lost? They aren’t raiding the account. They are closing it.

If the joint holder doesn’t work that could be very difficult. Try it. Sit in front of an admin in a bank and explain you want a joint account but don’t have a salary yourself but don’t worry “ my partner will be putting their salary in”, as they just got debanked !

 

Spiderman Flag Horsham 05 Aug 23 6.19am

Originally posted by Wisbech Eagle

My reading of the process is that two considerations are reviewed. Firstly, if an account holder is a PEP whose public status is such that their account requires a lot more costly oversight than the income it generates, then closing it is considered. Secondly, if the account holder is someone whose public persona is regarded as potentially capable of causing reputational damage to the bank within their target market, that too might cause them to consider withdrawing service. If both considerations are found then the likelihood obviously increases.

If a bank targeted Mail and Express readers and watchers of GB News they might well think those who promoted trans equality controversial to their market.

That’s a matter for any business to determine itself.

So would you accept without argument the bank’s decision? Off topic but it is not only readers/viewers of this outlets mentioned that think tsrans equality controversial

 

Eden Eagle Flag Kent 05 Aug 23 6.27am

Utterly pointless trying to have any dialogue with this troll - don’t waste your time..

 

Yellow Card - User has been warned of conduct on the messageboards georgenorman Flag 05 Aug 23 7.57am

Originally posted by palace99

Forage was offered another account, by the same company. He refused went to the press, disclosed his own personal data, to make a story out of something quite minor.

The fact that the govt and most media have jumped all over this, just shows all the friends he has in high places.

As a business owner it is perfectly acceptable to refuse business

I agree, business, organisations and individuals should be able to deal with or not deal with whoever they like.

 

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 8.44am

Originally posted by Teddy Eagle


Already provided.

[Link]

That doesn’t though specify who closed them. It does explain that the increased requirements placed on banks to monitor money laundering could be behind the increased numbers. If I ran a bank and the government expected me to do their work for them without reward then I might take the simple option and close anything doubtful rather than spending time looking.

Let’s see what comes out of the enquiry.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 8.56am

Originally posted by Spiderman

So would you accept without argument the bank’s decision? Off topic but it is not only readers/viewers of this outlets mentioned that think tsrans equality controversial

That depends on the circumstances. I might ask for an explanation. I could get a detailed reply, or a neutral one. That’s up to the bank. It’s their decision. If they choose to alienate me they can. I won’t deal with HSBC because of charges they levied many years ago. I have other choices. I currently have 6 accounts, plus a credit card, whilst my wife has 4, shuffling money between them to maximise the interest.

People can disapprove of trans equality all they like. Social progress is often unpopular in certain quarters. It is though off topic!

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Spiderman Flag Horsham 05 Aug 23 8.58am

Originally posted by Wisbech Eagle

That doesn’t though specify who closed them. It does explain that the increased requirements placed on banks to monitor money laundering could be behind the increased numbers. If I ran a bank and the government expected me to do their work for them without reward then I might take the simple option and close anything doubtful rather than spending time looking.

Let’s see what comes out of the enquiry.

Is the enquiry not being led by an arch remainer, who has described brexiteersas xenophobic, racists who need to get in the modern world? I may be wrong but if not, any guesses how thee qualify will go?

 

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 9.03am

[quote=Tim Gypsy Hill '64;3814061]

That his opinions are controversial to the bank (and you) is irrelevant. His opinions were the reason he was debanked. His opinions are not controversial to everyone in this country. Hence the accusation of "cancelled by Coutts because of his views".

Not that you could ever accept that someone you dislike could be wronged.

That’s just wrong.

You are another who cannot understand the difference between the cause of something and the reason for it. If you want to go back a few pages. The reasons have been explained. They aren’t the opinions themselves. It’s that they are controversial opinions. They could equally be strident left wing opinion as strident right wing.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Wisbech Eagle Flag Truro Cornwall 05 Aug 23 9.09am

Originally posted by Spiderman

Is the enquiry not being led by an arch remainer, who has described brexiteersas xenophobic, racists who need to get in the modern world? I may be wrong but if not, any guesses how thee qualify will go?


I have no idea who it is or what their views on Brexit might be.

I do know that an enquiry into the closure of bank accounts by someone appointed by the FCA won’t be looking at Brexit but will have clear terms of reference and be expected to do their job objectively and professionally.

Casting aspersions on them before they have even started has echoes from the USA.

 


For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

cryrst Flag The garden of England 05 Aug 23 9.50am

Originally posted by Wisbech Eagle


I have no idea who it is or what their views on Brexit might be.

I do know that an enquiry into the closure of bank accounts by someone appointed by the FCA won’t be looking at Brexit but will have clear terms of reference and be expected to do their job objectively and professionally.

Casting aspersions on them before they have even started has echoes from the USA.

Unlike you then !

 

NEILLO Flag Shoreham-by-Sea 05 Aug 23 10.16am

Originally posted by Wisbech Eagle

My reading of the process is that two considerations are reviewed. Firstly, if an account holder is a PEP whose public status is such that their account requires a lot more costly oversight than the income it generates, then closing it is considered. Secondly, if the account holder is someone whose public persona is regarded as potentially capable of causing reputational damage to the bank within their target market, that too might cause them to consider withdrawing service. If both considerations are found then the likelihood obviously increases.

If a bank targeted Mail and Express readers and watchers of GB News they might well think those who promoted trans equality controversial to their market.

That’s a matter for any business to determine itself.

You didn't read my post on this subject then, because you are totally wrong.

 


Old, Ungifted and White

Teddy Eagle Flag 05 Aug 23 10.19am

Originally posted by Wisbech Eagle

That doesn’t though specify who closed them. It does explain that the increased requirements placed on banks to monitor money laundering could be behind the increased numbers. If I ran a bank and the government expected me to do their work for them without reward then I might take the simple option and close anything doubtful rather than spending time looking.

Let’s see what comes out of the enquiry.

In an article about debanking with the headline "UK banks are closing more than 1000 accounts a day" and subhead "data shows a big jump in customers being debanked", isn't it clear who's closing them?

 

NEILLO Flag Shoreham-by-Sea 05 Aug 23 10.21am

Originally posted by Wisbech Eagle

I expect many families do have just one account and for any in joint names only the PEP would lose access, thus preserving the ability to function. That’s just a presumption though. Even if the account was closed it would surely be a simple matter for the non PEP part of the family to transfer everything to a new account in their name with the notice given?

How could money be lost? They aren’t raiding the account. They are closing it.

Wrong again.
PEPS also include family members. Here's the definition ;

This definition is extended to include family members and known close associates of a PEP. These are commonly called RCAs – Relatives or Close Associates and the rules that apply to PEPs apply also to RCAs. Family members include spouses, partners, parent, sibling, child, partner, or spouse of the child

 


Old, Ungifted and White

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