Nigel Farage – the tip of the iceberg?

Not surprisingly, Mr.Farage has enjoyed much type space concerning the withdrawal of his banking facilities by Coutts. Yesterday we learned that Liz Truss had also struggled to open a bank account. Both parties have leapt to the conclusion that the decisions are politically motivated and isn’t life unfair etc etc.

My recent experience is different. Clients who have enjoyed long banking relationships are now being put under pressure by the big 4 clearing banks. A client who actually had a large deposit in a current account was told to explain himself, or the account would be shut (!) He had sold a business a few years previously.

I think be very careful as relationships that previously had been seen as sound may now not be. It is my view that the banks have changed their lending policies to all; not just errant politicians.

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