Coutts allegedly offers to keep his accounts open

Coutts, the private bank that exclusively serves wealthy clients, has offered to reinstate Nigel Farage’s personal and business bank accounts, according to the former Ukip politician. Farage revealed that Mohammad Kamal Syed, the interim chief executive of Coutts, had written to him extending the offer to keep both his accounts intact.

The saga between Coutts, its parent company NatWest, and Farage had caused significant turmoil, resulting in high-level resignations from both banks. However, NatWest declined to comment on individual customers’ cases.

Mr. Farage had previously accused Coutts of closing his accounts due to his political views, and he shared documents suggesting that his political stance was indeed discussed by the bank alongside his financial situation before the decision was made.

The controversy has caused Farage “enormous harm,” consuming a considerable amount of his time and incurring substantial legal fees. In response, he has sent a legal litigation letter to Coutts, demanding full apologies, compensation for his costs, and, most importantly, a face-to-face meeting with the bank’s top executives.

While Coutts has extended the olive branch, Farage has yet to confirm whether he intends to accept the offer and continue banking with them.

As the dispute continues, Farage remains determined to pursue the matter further. He has launched a website aimed at helping individuals and small businesses who have faced “unjust treatment” from banks, particularly if their accounts were abruptly closed, especially over political opinions.

The situation also led to the resignation of Dame Alison Rose, the chief executive of NatWest Group, who acknowledged a “serious error of judgment” in discussing Farage’s Coutts account with a BBC journalist. Additionally, Peter Flavel, the CEO of Coutts, also resigned amidst the controversy.

Mr. Farage seeks to use the platform provided by the website to uncover whether other customers have experienced similar account closures based on their political beliefs. The battle continues, as he remains resolute in seeking answers and resolutions to the contentious matter.

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