Grant Shapps and his family 'de-banked' as he is 'politically exposed'

‘Bankers shouldn’t second guess society, there are laws’: Energy secretary Grant Shapps reveals he and his entire family were ‘de-banked’ as he is ‘politically exposed’

• Minister Grant Shapps hits out at banks who stopped his family making accounts
• READ MORE: Nigel Farage demands NatWest chair Sir Howard Davies step down

Energy secretary Grant Shapps has revealed that he and his entire family have been victims of the ‘de-banking’ scandal because he is a ‘politically exposed person’.

The cabinet minister said that major banks have banned his wife and children from having accounts.

This comes in the wake of the scandal that saw ex-Ukip leader Nigel Farage having his Coutts bank account closed, leading the the resignation of multiple senior figures including NatWest Group chief Dame Alison Rose.

Mr Shapps, the MP for Welwyn Hatfield in Hertfordshire, said that one bank said he had to show them a massive 18 years worth of payslips before they would let him be a customer.

He hit out at the idea that banks should be policing people’s views, The Sun on Sunday reports.

Energy secretary Grant Shapps (pictured) has revealed that he and his entire family have been victims of the ‘de-banking’ scandal because he is a ‘politically exposed person’

Cabinet minister Mr Shapps (pictured with his wife Belinda and their three children) said that major banks have banned his wife and children from having accounts

The furious politician, 54, told the paper that lenders have ‘gone too far with this’ and should instead ‘get on with the job of being good at banking’ and not ‘second guess society’.

READ MORE: NatWest chairman says former chief executive was a ‘great leader’ forced to resign because of political pressure

It was also revealed this week that NatWest had the joint highest number of complaints about decisions to close bank accounts last year. 

There were 274 customer complaints about the bank shutting accounts during the 2022-23 financial year – and the same number for Barclays, according to data from the Financial Ombudsman Service.

Mr Shapps revealed that his wife Belinda and their teenage sons have been caught up in the de-banking scandal.

He added that every single member of his family, including his wife, brother and sister, have had difficulty in getting accounts at different major banks.

The minister said that HSBC sent his younger son, 19, a letter asking him to provide a list ‘as long as your arm’ about things such as the source of his wealth, which he branded as ‘completely unreasonable’.

He added that his eldest son, 22, was denied an account entirely by a challenger bank as they are not allowed to open accounts for politically exposed people.

Mr Shapps, a father-of-three, slammed the state of affairs as ‘mad’.

He also revealed that he was asked for 18 years of P60 forms when he applied for a bank account recently, but questioned how he was supposed get hold of payslips for the entire time he has been an MP.

He added that it was frequent occurrence for MPs and permanent secretaries in the civil service to rejected by banks, saying that those who are committed to public services run the risk of being targeted by the banks.

Banking boardrooms have gone crazy over woke culture, Mr Shapps claimed. He added that their customers’ political or social beliefs are none of their business.

The energy secretary also slammed Coutts for their ‘dodgy dossier’ which led to Brexit campaigner Nigel Farage losing his account.

It referenced an article where Mr Farage called the Tory MP a ‘globalist’ and claimed it was an anti-semitic trope targeted at Mr Shapps, who is Jewish. But he told The Sun this conclusion was a ‘load of tosh’.

The energy secretary also slammed Coutts for their ‘dodgy dossier’ which led to Brexit campaigner Nigel Farage losing his account and ultimately the resignation of NatWest CEO Dame Alison Rose (pictured)

Nigel Farage has continued his war with Britain’s banks as he accused them of ‘making massive profits whilst treating the public badly’

Sir Howard Davies has vowed to stay on as NatWest chairman – despite calls for him to quit – as he claimed it was ‘important there is some stability’ in the wake of the ‘de-banking’ row

This comes as Nigel Farage continued his war with Britain’s banks as he accused them of ‘making massive profits whilst treating the public badly’.

The ex-UKIP leader hit out after NatWest reported pre-tax proft of £3.6billion in the six months to the end of June, up from £2.6billion the same time last year.

The bumper profit brought renewed scrutiny about ‘low’ saving rates being offered to the bank’s customers, while loan and mortgage rates continue to soar.

After the resignation of Dame Alison and Coutts boss Peter Flavel, Mr Farage has piled on pressure for NatWest Chairman Sir Howard Davies to resign.

But Sir Howard this morning vowed to stay on in his role – despite calls for him to quit – as the 72-year-old claimed it was ‘important there is some stability’ at the banking group.

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