13.3 C
Tuesday, October 3, 2023
HomeUKFormer city trader 'waited 15 months to find out why Coutts' account...

Former city trader ‘waited 15 months to find out why Coutts’ account was closed’


He told the PA news agency: “Refusal to open (bank accounts) and closures have happened to various members of my family.

“Which is perhaps, above all, what has made me angry, very angry and has motivated me to do this.

“It’s hard enough for people to enter public life and take on the stigma that comes with it…

“But if he is now going to have such a big effect on his family and close friends, why would anyone of any caliber want to participate in the public life of our country? I mean, this really matters.”

In a statement released Wednesday night, Coutts insists that he does not close client accounts “solely on the basis of legally held political and personal views.”

The statement read: “We recognize the substantial interest in this case. We cannot comment on the details given our obligations of client confidentiality.

“However, it is not Coutts’ policy to close client accounts solely on the basis of legally held personal and political views.

“Decisions to close an account are not made lightly and involve a number of factors including business viability, reputational considerations, and legal and regulatory requirements.”

A spokesperson for the Financial Ombudsman Service said: “Account closures should always be carried out in accordance with the bank’s terms and conditions. If consumers are concerned that they have not been treated fairly, they should contact the Financial Ombudsman Service and we will see if we can help.

“We are a free, independent service created to resolve financial disputes informally and fairly. Each case is investigated on its own merits.”

The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

Latest stories