2023 Fact Checks
Independent fact checks of notable 2023 claims involving Nigel Farage and Reform UK — primarily the Coutts/NatWest “debanking” saga and its media coverage. All links verified and active.
Verdict Key: ✅ True ⚠️ Misleading ❌ False ℹ️ Lacks Evidence
Claim: “Coutts closed Farage’s account purely for commercial/wealth-threshold reasons.”
⚠️ Verdict: Misleading
Summary: Internal documents released in July 2023 show “reputational risk” and alignment with bank values were also considered — not just financial thresholds.
Claim: “Coutts customers must maintain £1 million in assets or £3 million in savings to keep an account.”
⚠️ Verdict: Partly True / Outdated
Summary: Coutts requires customers to meet certain wealth thresholds, but these vary by account type and relationship. Farage’s balance fell below internal targets, yet other factors (reputation & compliance) contributed to closure.
Notes
The £1 million figure came from old eligibility guidance. By 2023, Coutts evaluated clients case-by-case rather than a single cut-off.
Claim: “The BBC’s report saying the closure was ‘for commercial reasons’ was accurate.”
❌ Verdict: False (corrected)
Summary: The BBC apologised publicly on 24 Jul 2023, confirming its earlier report misrepresented the reasons behind the closure.
Claim: “NatWest breached data-protection law by discussing Farage’s banking details with a BBC journalist.”
✅ Verdict: True (confirmed by regulator)
Summary: The UK Information Commissioner’s Office ruled in Oct 2023 that ex-NatWest CEO Alison Rose breached data-protection rules when she shared personal details about Farage with a BBC reporter.
Claim: “There were no consequences for banks after the Farage debanking affair.”
❌ Verdict: False
Summary: The affair led to resignations of Coutts CEO Peter Flavel and NatWest CEO Alison Rose, plus regulatory and government interventions.
Claim: “The closure was handled lawfully and fairly, full stop.”
⚠️ Verdict: Misleading (oversimplified)
Summary: Travers Smith’s independent review found the closure was legally valid but identified “serious failings” in how Farage was treated and informed.
Claim: “Farage’s ‘debanking’ story began in 2024.”
❌ Verdict: False
Summary: The dispute became public in early July 2023, with widespread media coverage throughout that month.
⚠️ Disclaimer
All entries are sourced from reputable reporting, public records, independent fact-check outlets, and official documents. If you believe any claim is inaccurate, misleading, or potentially defamatory, please contact us for prompt correction.