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Grant Shapps claims his family had trouble opening bank accounts amid Farage row

30 July 2023 , 08:39
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Grant Shapps has said he and his family have had issues opening bank accounts (Image: Getty Images)
Grant Shapps has said he and his family have had issues opening bank accounts (Image: Getty Images)

A top Tory has claimed he and his family have struggled to open accounts at major banks as Nigel Farage continues with his "de-banking" crusade.

Energy Security Secretary Grant Shapps accused banks of going "too far" in its treatment of political figures. He said his wife, children, sister and brother, have all experienced difficulties as he accused HSBC of being "completely unreasonable" in its treatment of his son.

The Cabinet member spoke out following a turbulent week for NatWest, which saw chief executive Dame Alison Rose dramatically quit in the row over Mr Farage's account being closed. The storm centres around officials at private bank Coutts - owned by NatWest - who warned in an internal document that Mr Farage is seen as "xenophobic and pandering to racists" and a "disingenuous grifter".

Mr Shapps claimed the woke culture in boardrooms has gone "completely crazy", and said his family's problems stem from his being a "politically exposed person".

Grant Shapps claims his family had trouble opening bank accounts amid Farage row qhiqqhiqdqiqqrprwNigel Farage is launching a new website in his campaign over 'de-banking' (Getty Images)

In an interview with The Sun, Mr Shapps said: "Every single member of my family - my wife, my brother and my sister. All different banks. It is difficulty in getting an account.

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"My 19 year-old son, he's just been sent an enormous letter, an enormous list of things that HSBC wants him to provide, which is as long as your arm and completely unreasonable... HSBC - the bank he has been with since he was a little kid - had asked him for a list as long as his arm about you know, what's the source of your wealth and what's this, what's that."

And he said his oldest son, aged 22, was "outright refused" an account by one of the Challenger banks, branding it "mad". Outlining his own experience he said: "When I applied for accounts - I was asked for 18 years of a P60s recently. I said how am I meant to get 18 years of payslips? It was since I had started being an MP."

Mr Shapps said that it was a problem faced by politicians and "anyone in public service" including former top civil servants. The senior minister issued a warning to bank leaders, after the Government moved swiftly to introduce a number of reforms in the wake of Mr Farage's high-profile campaign against Coutts and parent company NatWest.

HSBC declined to comment.

Grant Shapps claims his family had trouble opening bank accounts amid Farage rowDame Alison Rose quit as NatWest chief executive as a result of the controversy (Handout)

Mr Farage last night announced he's setting up a new website to campaign on behalf of people whose bank accounts have been shut. He said he wants to "fight back against the big banks that have let us down".

The AccountClosed.org website currently asks visitors: "A major scandal is emerging - banks are unfairly closing accounts, do you think it is time to stop this?" In a six-minute video on Twitter Mr Farage said: "We will build together, I believe, if you engage, a very, very significant and powerful group of people.

"And Parliament will listen, ministers will listen, prime ministers and leaders of the opposition will listen."

Mr Farage's crusade against NatWest has led to the resignation of Dame Alison and Coutts's boss Peter Flavel. Dame Alison quit after admitting being the source of a BBC report suggesting Mr Farage fell below the financial threshold to hold an account with high-net-worth bank Coutts, triggering concerns she breached confidentiality rules.

NatWest's chairman Sir Howard Davies, though, has resisted pressure from Mr Farage and others to quit, insisting it is important for the bank's stability that he stays on the board. On Friday, City minister Andrew Griffith, who led the Government response to the issue, said Sir Howard should remain in post.

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Dominic McGrath

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