Farage and NatWest conform to settle row over checking account closure | EUROtoday

NatWest and Nigel Farage have settled the dispute over the closure of one in all his financial institution accounts.

The agreed settlement comes nearly two years after the Reform UK chief had his account with Coutts, the distinguished personal financial institution for the rich which is owned by NatWest Group, closed.

The closure led to a public row between Farage and the financial institution, which later admitted “serious failings” in its therapy of the politician. The fallout additionally led to the resignation of NatWest’s chief govt, Dame Alison Rose.

The phrases and particulars of the settlement stay confidential so no additional info has been launched.

“NatWest Group and Nigel Farage MP are pleased to confirm that they have resolved and settled their dispute and the bank has apologised to Mr Farage,” a joint assertion on behalf of the financial institution and Farage stated on Wednesday.

The dispute started in 2023, when Farage, a outstanding Brexiteer, stated Coutts deliberate to close down his account and that he had not been given a cause.

The BBC reported that his account was being closed as a result of he now not met the wealth threshold for Coutts, citing a supply accustomed to the matter.

However, the previous UKIP chief later obtained a report from the financial institution which indicated his political opinions have been additionally thought of.

NatWest’s chief govt Dame Alison resigned in July 2023 after admitting she had made a mistake in talking about Mr Farage’s relationship with the financial institution.

A public debate additionally adopted over individuals being having their financial institution accounts shut attributable to their views. Farage stated he was later refused private and enterprise accounts at seven extra banks within the UK.

An impartial report discovered NatWest failed to speak its determination correctly when it determined to close Farage’s Coutts account.

But the closure was lawful, and primarily based primarily on industrial causes, the report stated.