Find out what your bank thinks about you

Nigel Farage has said he was “debanked” by Coutts after executives compiled a “36-page Stasi-style surveillance report” on his political views.

Writing in the Telegraph he said: “At last, the truth is out about why Coutts decided to close my accounts.

“My fate was sealed at a meeting of the bank’s wealth reputational risk committee on Nov 17, 2022. Executives agreed that, once my mortgage expired, I was to be “de-banked”. I know this because, via a subject access request I have seen the 36-page Stasi-style surveillance report used at that meeting to justify this extraordinary action. This report is, frankly, shocking.”

The chief executive of Coutts owner NatWest, Dame Alison Rose, has since resigned after admitting she leaked private banking information about Mr Farage to the BBC.

Banks use vast online databases and internal compliance teams to gather information on customers.

This is standard practice, and a bank can shut a person’s account at any time, with limited notice, for a long list of reasons and are generally not legally required to say why.

These reasons can include if a person does not meet their terms and conditions, has committed a crime or fraud, or has not met the certain standards and values of a bank.

However, customers have the right to request information held about them using the same “subject access request” forms employed by Mr Farage. Here we explain what a SAR is, and how to submit one to your bank.

What is a SAR, and how do I submit one?

Under the General Data Protection Regulation 2018, everyone has the right to ask an organisation, including a bank, whether or not they are using or storing their personal information.

You can also ask them for copies of your personal information, verbally over the phone or in branch or in writing, through a “right of access” – otherwise known as a SAR.

You can make a SAR request if you want to find out more about what personal information a bank holds about you, how they are using it, who they are sharing it with, and where they got your data from.

A notice on NatWest’s website states that you should be specific in your submission regarding the information you want to obtain from the bank.

This includes whether you want or need a certain call recording with the bank or a copy of a document.

Essentially, the more information you provide in your SAR the easier it will be for your bank to find it in its system and reply promptly.

If you and a joint account holder want to see the information held in that account, both parties should complete and sign a SAR form. One copy of the information held on the account will be issued for the attention of both parties.

After a SAR is submitted your bank will typically respond to your request within 30 days, but more complex requests can take up to 90 days.

A bank will send your information back in PDF form to a verified online bank account, email or via post to a confirmed address.

What information do I need to submit one?

Banks will ask for some basic details when you submit a SAR.

These include your name, address, phone number, email and the details you wish to obtain from the bank.

After the SAR is submitted a bank will typically call or email you to ask you to verify your identity to make sure it is you that is requesting the information.

When filling out the NatWest SAR form, you will need to fill out comprehensive details for each account you want information about.

It must be noted that SARs are for personal information only. A bank can deny a request if the information requested is for other individuals, companies or organisations not connected to the bank and yourself.

Submitting a SAR does not mean a bank will automatically hand over every single piece of information it holds on you, so it is important that the request is as specific as possible.

It is recommended that you keep all details of your request saved or printed out in case your bank has any follow up queries.

Some organisations and banks only keep information for a certain amount of years, so a request may be denied because of this.

If you have a complaint about the SAR response contact your bank.

This article is kept updated with the latest information.