Nigel Farage has settled his long-running debunking dispute with NatWest Group. The row erupted almost two years ago when the Reform UK leader said his account with prestigious private bank Coutts, which is owned by NatWest, was being shut because of his political views.
The banking giant has now said sorry to the Clacton MP and is thought to have agreed to pay him an unspecified sum in damages. Mr Farage is understood to have withdrawn his threat of legal action in return.
A joint statement said: “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.”
Mr Farage became embroiled in the debanking saga in June 2023 after going public about his account being closed by Coutts.
He used a subject access request to obtain documents showing he was cut off because his political views did not align with the values of the bank for the wealthy.
The dossier also revealed that staff crowed about him being debanked in internal messages.
The furore saw Dame Alison Rose quit as NatWest’s chief executive in July 2023 after admitting she was the source of a BBC article claiming his accounts were shut because he was under the wealth limit.
Reform’s treasurer Nick Candy is said to have played a key role in role in resolving the row during mediation talks held at a London law firm on Tuesday.
