New data published by Parliament’s Treasury Committee showed that the Financial Ombudsman received 3,858 complaints linked to debanking.
Debanking complaints to the official state ombudsman have surged over the past year, amid a sharp jump in businesses facing account closures.
Debate grew around the topic last year when former politician Nigel Farage accused Coutts, which is owned by NatWest, of moving to shut down his account because it did not agree with his political beliefs. The fresh data showed that businesses have seen a particular increase in account closures, with complaints from firms related to debanking rising by 81% to 666 for the past year.
Data in the correspondence also showed a rise in the proportion of these complaints being upheld, rising to 36% in the favour of complainants from around 27%.
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