Farage has bank accounts closed

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sigma said:
Mods @Feek etc, please could you change thread title to Farage has a business bank account closed?
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"Farage's business account falls foul of FCA regulations on operating a business account associated with politics." ?

Politics as a business, it sort of eludes to holding donor deposits.. if the bank cannot comply with FCA about money tracability or if those donors/those associated with politicians (perhaps foriegn) then that could be a hypothetical reason for closure without announcing the reason as an ongoing investigation would require a non-tipping off. However that is hypothetical until the reason is provided (a court case would clarify that right up).
 
NickK said:
"Farage's business account falls foul of FCA regulations on operating a business account associated with politics." ?

Politics as a business, it sort of eludes to holding donor deposits.. if the bank cannot comply with FCA about money tracability or if those donors/those associated with politicians (perhaps foriegn) then that could be a hypothetical reason for closure without announcing the reason as an ongoing investigation would require a non-tipping off. However that is hypothetical until the reason is provided (a court case would clarify that right up).
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It could be because he's a director of the Reform Party Ltd? I think he must have it as a LTD rather than an official party to avoid funding scrutiny/laws? The irony if that is the case...
 
NickK said:
"Farage's business account falls foul of FCA regulations on operating a business account associated with politics." ?

Politics as a business, it sort of eludes to holding donor deposits.. if the bank cannot comply with FCA about money tracability or if those donors/those associated with politicians (perhaps foriegn) then that could be a hypothetical reason for closure without announcing the reason as an ongoing investigation would require a non-tipping off. However that is hypothetical until the reason is provided (a court case would clarify that right up).
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Wrong.

In reality: blood drinking lizard overlords take Farage's bank accounts and they're coming for YOU next!1!1!1!!

You'll own no cash AND you'll be happy about it!
 
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Doobedoo said:
It’s basically the same set of posters posting in the vast majority of threads.
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Well of course it is.

There's a finite number of posters who are members of OCUK talking about quite specific subjects, of course it'll be the same people.

Much like the football transfer thread or the latest graphic card thread is mainly the same old people.
 
wesimmo said:
Well of course it is.

There's a finite number of posters who are members of OCUK talking about quite specific subjects, of course it'll be the same people.

Much like the football transfer thread or the latest graphic card thread is mainly the same old people.
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I wasn’t saying it was good or a bad thing, matey called you all sad acts. Occasionally other posters wonder in but generally it’s the same core of people commenting, the same core of people with the Brexit obsession and so on and so forth.
 
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Mercenary Keyboard Warrior said:
Banks do not have a obligation to offer you an account nor maintain it. They are a business and as such can choose who they deal with, as long as they do so legally.
There are guidelines for how much notice to give in regards closure and when instant closure is acceptable.
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I posted in another reply the rules for bank closures, that they don't have to give a reason for closing an account. They might have to have an official reason but they don't have to show it to the customer, so this can be exploited as the customer could be mislabelled yet can't correct it.

Mercenary Keyboard Warrior said:
I am very much against the socialist type approach of everyone is equal. Its funny since I would align with most of those who are complaining about this decision on principle. But for some reason in this case (we really know its because its Farage and many have tied themselves to his mast but will claim something else,) they argue the opposite.
The individual should have a right to demand an account!? I am not sure how that ever works in a free market democracy.
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This is the problem with having private businesses running essential services as you rightly say don't have an obligation to provide accounting services.

It creates a situation that if no bank will let a person open an account what happens to that person?
 
sigma said:
Farage literally convinced the public to reduce our freedom to live and work. You care so much about people not being to use a bank account but don't care about freedom generally? Weird. You don't care about treatment of others either.
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I am for fairness and equality for everyone.

The politics of the person is immaterial (as long as it's not for illegal purposes).

But you have been triggered because it's Farage. This can happen to you. That is why I'm flagging it up for both of us. But here you are interrupting a conversation to have a go at me.
 
BowdonUK said:
I posted in another reply the rules for bank closures, that they don't have to give a reason for closing an account. They might have to have an official reason but they don't have to show it to the customer, so this can be exploited as the customer could be mislabelled yet can't correct it.


This is the problem with having private businesses running essential services as you rightly say don't have an obligation to provide accounting services.

It creates a situation that if no bank will let a person open an account what happens to that person?
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Again you just agreed with my point, its bad legislation in play here.
The problem is if you specifically do not want to advise a person of the rules for account closure under some circumstances then you don't really want to tell them anything, ever.
I honestly do not believe that UK banks are repeatedly closing accounts of people for any "dodgy" reason. It goes against everything in their point of existing (which is to make money!)

These are not accounting services. However accounting services are all (apart from Government) private businesses as well.

Whilst you say this, can you imagine the meltdown in some areas (I would personally disagree with it as well on principle) if you were forced to have a government run bank account.
Imagine the overreach potential but also the frothing some would have about the government being able to see that they had a bit of income they were not declaring, or that they had an Only fans subscription ;)
What about the Tory government being able to see you had an active Labour party monthly donation!
The sorts of thing the crypto fanatics claim happens now.

I think all the banks will allow a basic bank account for the vast majority. Its an account that has no overdraft etc, and allows basic banking functionality.
If you repeatedly breached sensible banking then I don't know what to say.
For example if you had your bank account closed for sending payments to say Nigeria. Then open a new one and use a different mechanism to send future payments that are not directly linked to your bank account.
 
BowdonUK said:
I am for fairness and equality for everyone.

The politics of the person is immaterial (as long as it's not for illegal purposes).

But you have been triggered because it's Farage. This can happen to you. That is why I'm flagging it up for both of us. But here you are interrupting a conversation to have a go at me.
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There's a difference between politics and being a snakeoil salesman/criminal.

Also, he still has personal bank accounts...
 
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