Anti-Brexit campaigner calls for investigation into banks after Monzo account closed

Anti-Brexit campaigner Gina Miller has called for an investigation into banks refusing to serve political parties after Monzo said it is closing her account.

The leader of the upstart True & Fair political party said challenger bank Monzo is cutting ties with the group in September after two years.

Monzo said it does not offer bank accounts to political parties and it had accepted the True & Fair party’s application by mistake.

But Ms Miller, who famously challenged the government’s Brexit plans in the Supreme Court, said it is “nearly impossible” for small political parties to access banking services in the UK.

“The FCA and the government must urgently investigate and take action,” she said.

She added: “The True & Fair Party’s experience with Monzo and other banks which rejected our account applications demonstrates how it is nearly impossible for small political parties to access banking in the UK.

“We no longer live in a functioning democracy if banking facilities can be denied or removed from political parties and political individuals.

Ms Miller said banks are “overzealously misusing” rules around politically exposed people (PEPs) and political parties.

The warning about her account closure comes amid rising concern about banks denying accounts of PEPs and others. Ministers have urged bank bosses to ensure services are not denied to people expressing lawful free speech.

And City minister Andrew Griffith has also tightened rules so banks will have to explain why they are shutting down an account.

Previously they have not had to provide a rationale for doing so.

The notice period for a forced account closure will be extended from 30 days to 90 days.

It comes after former UK Independence Party (Ukip) leader Nigel Farage discovered his bank account was shut down by private bank Coutts, owned by NatWest Group, because it found his public statements did “not align” with its values.

Monzo said Ms Miller’s account closure was nothing to do with political views or affiliations, but because it does not offer accounts to political parties.

A spokesman said: “In this case, the account wasn’t originally categorised as a political party. After this was identified and corrected, the customer was given notice that the account would be closed.

“We recognise that this experience will have been frustrating for the customer and we’re sorry for that.”