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Post by Lord Emsworth on Jul 20, 2023 20:39:28 GMT
An internal report had described Farage as a “disingenuous grifter” who promotes “xenophobic, chauvinistic and racist views”.
They’re not wrong 🤔
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Post by politician2 on Jul 20, 2023 20:59:05 GMT
An internal report had described Farage as a “disingenuous grifter” who promotes “xenophobic, chauvinistic and racist views”. They’re not wrong 🤔 Irrespective of whether one agrees with the assessment, the question is whether a bank should be commenting on one of its loyal and long-standing customers in such a disrespectful manner. |
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Post by zeopold on Jul 20, 2023 21:02:40 GMT
An internal report had described Farage as a “disingenuous grifter” who promotes “xenophobic, chauvinistic and racist views”. They’re not wrong 🤔 the question is whether a bank should be commenting on one of its loyal and long-standing customers in such a disrespectful manner. He's a ****, so yes. |
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Post by politician2 on Jul 20, 2023 21:22:48 GMT
the question is whether a bank should be commenting on one of its loyal and long-standing customers in such a disrespectful manner. He's a ****, so yes. That's not the point. He's a long-standing customer and his political career should be entirely separate from his commercial relationship with his bank. Though I find Coutts' original decision to terminate his account as soon as he paid off his mortgage and stopped bringing in a large income more disturbing from a loyalty and probity point of view. |
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Post by Lord Emsworth on Jul 21, 2023 6:21:49 GMT
An internal report had described Farage as a “disingenuous grifter” who promotes “xenophobic, chauvinistic and racist views”. They’re not wrong 🤔 Irrespective of whether one agrees with the assessment, the question is whether a bank should be commenting on one of its loyal and long-standing customers in such a disrespectful manner. It’s fact I do agree that they shouldn’t be doing it, or using it to decide if someone can still be a customer That said, he was offered a Nat West account so this is just NF using it all for opportunistic publicity. Something he’s very good at. And, of course, enabled by his cheerleaders at the Telegraph |
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Post by Lord Emsworth on Jul 21, 2023 10:04:07 GMT
They don’t get more wrong than this wrong’un….
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Post by zeopold on Jul 21, 2023 10:36:53 GMT
That's not the point. He's a long-standing customer and his political career should be entirely separate from his commercial relationship with his bank. Though I find Coutts' original decision to terminate his account as soon as he paid off his mortgage and stopped bringing in a large income more disturbing from a loyalty and probity point of view. Business is business. lol |
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Post by politician2 on Jul 21, 2023 10:47:36 GMT
Business is business. lol Perfectly true, and as a private business Coutts is entitled to do (or not do) business with anyone it chooses. But it's still a pretty cynical move and suggests that the bank (which in my experience used to be excellent) has fallen a long, long way. |
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Post by Lord Emsworth on Jul 21, 2023 12:37:57 GMT
Coutts...has fallen a long, long way. How so? Because it doesn't want this man as a customer?.... |
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Post by politician2 on Jul 21, 2023 12:45:56 GMT
Coutts...has fallen a long, long way. How so? Because it doesn't want this man as a customer?.... Because it decided to end a relationship with a long-standing customer (since the 1980s) the instant it had extracted the last serious money from him (i.e. when his mortgage was repaid). |
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Post by Lord Emsworth on Jul 21, 2023 13:30:46 GMT
Welcome to Capitalism
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Post by politician2 on Jul 21, 2023 13:34:29 GMT
A short-sighted view of capitalism. I suspect the whole affair has done more to damage Coutts' reputation than keeping Farage as a client (even if they don't like his politics and even if they're never going to make that much money out of him again). Sometimes you have to look at the bigger picture if you want to keep your business growing. |
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Post by Lord Emsworth on Jul 21, 2023 13:49:20 GMT
Maybe. Or perhaps the snobby types who bank at Coutts like that it’s exclusive and seeks to exclude the riff raff
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Post by politician2 on Jul 21, 2023 14:00:57 GMT
Maybe. Or perhaps the snobby types who bank at Coutts like that it’s exclusive and seeks to exclude the riff raff Except this doesn't really explain it. They were happy to have Farage's account for about 35 years, including the period in which he was active in British politics. The instant they'd extracted the last real money from him, they started searching for reasons to dump him as a client. That's a warning to other Coutts customers, both existing and prospective. The general impression I get is that Coutts is not doing well. As I already mentioned, its UK division has received some bad publicity for the poor service it delivers clients. Meanwhile, its Isle of Man operation – which, unlike the UK, always had a high minimum deposit requirement and didn't offer current accounts or cards until quite recently – has gone from occupying a large office block in Onchan (now a block of flats) to (from what I can tell from the website) comprising two people in a couple of offices in the NatWest/Isle of Man bank headquarters in Douglas. Presumably they use the same (incompetent) back offices services as NatWest Offshore, so God help their clients if they want something done quickly (though maybe they get to jump the queue). |
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Post by Lord Emsworth on Jul 21, 2023 14:23:03 GMT
No idea at all about their current performance however I have discovered that Coutts became a B corporation in 2021, which essentially means it balances a need to “do good” with its fiduciary duty to shareholders to make a profit.
Be interesting to know their year end numbers
Either way, under UK law, there’s nothing illegal about their decision
It’s also amusing to see people who normally demand less political intervention and less regulations suddenly becoming rather keen on it after all.
Coutts couldn’t have done this if we were still in the EU. An irony probably lost on Nigel F
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