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In a poll that ran from 11am on Tuesday, July 11 to 12.30pm on Thursday, July 13, Express.co.uk asked readers: \u201cShould it be illegal for banks to cancel people’s bank accounts?\u201d<\/p>\n
A total of 3,156 votes were received with the overwhelming majority of readers, 89 percent (2,808 people), answering \u201cyes\u201d in support of Sir Jacob\u2019s amendment. Whereas 10 percent (317 people) said \u201cno\u201d and a further one percent (31 people) said they did not know.<\/p>\n
Dozens of comments were left below the accompanying article as readers shared their thoughts on Sir Jacob\u2019s amendment.<\/p>\n
Don’t miss… <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Username Saralzh agreed that it should be illegal, writing: \u201cThe banks definitely need to be regulated on this.\u201d<\/p>\n Another, username Gobsmacker said: \u201cBanks shouldn’t be able to inflict this on people as long as they aren’t money laundering, sponsoring violence, or operating outside the law. It’s a purely political move designed to silence free speech and those they don’t agree with.\u201d<\/p>\n And Username Taterz added: \u201cOnly a court should have the power to close a bank account.\u201d<\/p>\n Security Minister Tom Tugendhat agreed that closure on \u201cpolitical grounds\u201d should be \u201ccompletely unacceptable\u201d, while Culture Secretary Lucy Frazer told LBC last week that she was \u201cquite concerned that people\u2019s bank accounts might be closed for the wrong reasons\u201d.<\/p>\n Follow Daily Express on Threads for all the latest news<\/b><\/p>\n The amendment proposed by Sir Jacob would mean that banks need to provide customers with a written statement detailing the reason for closing their accounts within 30 days. It would also allow customers to claim damages for the impact of the inconvenience.<\/p>\n A Treasury spokesperson said: \u201cIt would be a serious concern if financial services were being denied to those exercising the right to lawful free speech.\u201d<\/p>\n Whereas other readers commented that banks should retain the power to close accounts, with username SoltonGris writing: \u201cOf course banks should be able to cancel accounts, but only on legal grounds and only after they justify the reason for the cancellation and provide the customer with a chance to challenge any and all information used to come to that decision. There should be harsh penalties if the banks do not do so.<\/p>\n \u201cBanks are not like regular businesses and hold an increasingly critical and privileged position in the lives of all people and legislation should reflect that in its protection of citizens’ rights.\u201d<\/p>\n Username billj39 suaggested: \u201cThe current situation in my view is unsatisfactory. I would say a bank should have the right to freeze an account for up to a week. If longer is needed it should be passed to the [Financial Conduct Authority] FCA to investigate, They then decide whether to freeze the account for longer or to unfreeze it.\u201d<\/p>\n And username Voice_of_sanity said: \u201cIt’s a free market, banks can do what they want.\u201d<\/p>\n
Farage slams Coutts for ‘openly lying to him’ over his account being cancelled[LATEST] <\/strong>
Nigel Farage is ‘getting legal advice’ after Coutts ‘gave BBC his bank details'[REPORT] <\/strong>
It’s time to hold banks to account, says JUDY FINNIGAN[COMMENT] <\/strong><\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/Sir-Jacob-Rees-Mogg-4853927.jpg?r=1689261131466\")
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