Nigel Farage Declares Victory in Explosive NatWest Debanking Battle

Nigel Farage has finally settled his high-profile dispute with the NatWest Group after nearly two years of headlines, controversy, and behind-the-scenes wrangling. The row kicked off when the Reform UK leader claimed his account with Coutts – the swanky private bank owned by NatWest – was shut down because of his political views.

Now, the bank has officially said sorry to the Clacton MP, and although details are being kept hush-hush, it’s understood NatWest agreed to pay him a sum in damages. In return, Farage has reportedly dropped plans to take them to court, reported the Express.

In a short but telling joint statement, both parties confirmed the saga was over: “NatWest Group and Nigel Farage MP are pleased to confirm that they have resolved and settled their dispute, and the bank has apologised to Mr Farage. The terms of settlement are confidential.”

This all started back in June 2023 when Farage went public with claims that his Coutts account had been shut for political reasons. Digging deeper using a subject access request, he uncovered internal bank documents showing that his views apparently didn’t sit right with Coutts’ values.

What made things worse for the bank was that some employees had even celebrated his account being closed in internal messages – hardly a good look for an institution that prides itself on professionalism.

The fallout was massive. Dame Alison Rose, who was NatWest’s chief executive at the time, resigned in July 2023 after admitting she’d been the source of a BBC article which wrongly suggested Farage’s accounts were shut because he didn’t meet the bank’s wealth threshold.

This week, the whole affair came to a head during mediation talks at a London law firm. It’s said that Reform UK’s treasurer, Nick Candy, played a key role in helping both sides come to an agreement.

Though we may never know the exact terms of the deal, it’s clear the pressure on NatWest to put this PR nightmare to bed was strong. For Farage, it marks a public vindication after months of insisting he’d been treated unfairly.