Debanking scandal explodes with surge in complaints of people losing account access | Personal Finance | Finance [Video]

Watchdogs have seen an explosion in complaints about ‘debanking’ after Nigel Farage turned a spotlight on the scandal.

The total number of complaints about unfair bank account closures rose 44 per cent in the past year.

This includes an 81 percent year-on-year surge in the volume of complaints made by businesses.

Separately, the number of official complaints where people were refused a bank account because they are a ‘politically exposed person’ was also up sharply.

Nigel Farage triggered a major inquiry last year after he accused Coutts, part of NatWest, of effectively taking his bank account away.

Mr Farage suggested the banking giant had made the decision because they did not agree with his political stance on Brexit and other issues.

This has been denied by the bank, however the revelations saw thousands of others to come forward to say they had also been denied bank accounts.

Mr Farage revealed in June last year that Couttshad told him …