Nigel Farage bank account shut for falling below wealth limit

Nigel Farage fell beneath the fiscal threshold required to clasp an relationship astatine Coutts, the prestigious backstage slope for the wealthy, the BBC has been told.

It is understood that helium was subsequently offered a modular relationship astatine NatWest which owns Coutts.

Last week, Mr Farage said helium believed his relationship had been unopen for governmental reasons and helium was turned down by 7 different lenders erstwhile helium went elsewhere.

But radical acquainted with Coutts' determination said it was a "commercial" decision.

"The criteria for holding a Coutts relationship are wide from the bank's website," they told the BBC.

Coutts requires its customers to get oregon put astatine slightest £1m with the slope oregon clasp £3m successful savings.

The slope declined to remark connected Mr Farage's account.

The erstwhile person of the UK Independence Party and Brexiteer precocious posted a six-minute video connected Twitter blaming "serious governmental persecution" from an anti-Brexit banking industry.

He said that losing his slope relationship was the equivalent of being a "non-person" and that the determination whitethorn "fundamentally impact my aboriginal vocation and whether I tin adjacent spell connected staying surviving present successful this country".

Speaking to the BBC from France, Mr Farage did not quality the information that helium did not conscionable Coutts' threshold, but added: "They didn't person a occupation with it for the past 10 years."

He besides disputed the information that helium was offered a NatWest relationship astatine the clip his Coutts accounts were withdrawn. He says the connection of a NatWest relationship came precocious past week.

The BBC understands that the connection of a NatWest relationship inactive stands.

Mr Farage says that helium has tried to unfastened an relationship with a fig of different banks but claims helium was rejected connected the grounds that helium is simply a "Politically Exposed Person" (PEP).

A PEP mostly presents a higher hazard for fiscal institutions arsenic regulators see them to beryllium much exposed to the hazard for imaginable engagement successful bribery and corruption by virtuousness of their presumption and the power they whitethorn hold.

People acquainted with NatWest's reasoning insisted that this is not the crushed for the closure of his Coutts account. Mr Farage told the BBC: "Are you telling maine that each the different banks accidental it was a PEP happening and Coutts wasn't - gully your ain conclusions."

Mr Farage besides said that his concern relationship was closed contempt the information that past twelvemonth helium had what helium described arsenic "large important affirmative currency balances" going done his concern account.

Coutts bash not connection concern banking services to customers who are not besides backstage customers.