Nigel Farage has claimed that his financial institution accounts have been closed "without explanation".

The former UKIP chief, 59, mentioned he had been with the "prestigious" banking group - which he didn't title - for greater than 40 years.

However, he mentioned he had acquired a letter from the financial institution to inform him his private and enterprise accounts had been being closed.

He claimed that the financial institution had given no clarification within the letter as to the rationale behind the closures, however that he had since been instructed over the cellphone that the transfer was a "commercial decision".

In a six-minute video posted on Twitter, Mr Farage, the previous Brexit Party chief, mentioned that shedding his checking account was the equal of being a "non person" and that the choice could "fundamentally affect my future career and whether I can even go on staying living here in this country".

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He mentioned: "I received a cellphone name a few months in the past to say 'we're closing your accounts', I requested 'why', no cause was given.

"I was told a letter would come which will explain everything, the letter came through and simply said 'we are closing your accounts, we want to finish it all by a date', which is around about now.

"I did not fairly know what to make of it, I complained, I emailed the chairman, a lackey phoned me to say that it was a business resolution, which I've to say, I do not imagine for a single second.

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"So I thought, well there we are, I'll have to go and find a different bank, I've been to seven banks, asked them all 'could I have a personal and a business account?', and the answer has been no in every single case.

"There is nothing irregular or uncommon about what I do, the funds that go in and are available out each month are just about the identical, I keep in my enterprise account fairly a giant constructive money steadiness, which I assume with rates of interest the place they're is fairly good for the financial institution too."

He suggested that the closures could be linked to laws governing banks on "politically uncovered individuals" - also called PEPs.

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A PEP is someone who is in public office and is, therefore, at higher risk for potential involvement in bribery or corruption due to the nature of their position.

PEPs embrace MPs, ministers, members of the Supreme court docket, and their members of the family, amongst others. Accounts owned by PEPs require banks to use enhanced due diligence measures.

Mr Farage admitted that it was smart for banks to make sure that overseas nations weren't paying cash to "corrupt politicians", however mentioned additional compliance prices for banks needed to be proportionate.

A outstanding Leave campaigner within the Brexit referendum and now a presenter for GB News, Mr Farage advised he may very well be going through "prejudice" as a result of the "corporate world" had not forgiven him for Brexit.

He additionally claimed in his video that the "only explanation I can think of" for the choice was a declare made by Labour MP Chris Bryant within the House of Commons that Mr Farage had acquired practically £550,000 from Kremlin-backed TV channel RT.

Mr Farage has categorically denied the claims by Mr Bryant - which had been made below the safety of parliamentary privilege and which he has not repeated outdoors the Commons.

"The truth is I've never received any money from any sources with any link to Russia," Mr Farage mentioned.

Content Source: information.sky.com