Private bank and wealth manager Coutts, a UK-based bank that is also used by the British royal family, has on Friday sent an apology to Brexit champion Nigel Farage after he claimed they closed both his personal and business accounts over beliefs that do not "align" with the bank's ones.

According to the chief executive of NatWest, the group that owns Coutts, it was not policy to "exit a customer on the basis of legally held political and personal views," Alison Rose said, noting that "freedom of expression and access to banking are fundamental to our society."

Rose added that she had written a note to apologize to Farage for the "deeply inappropriate comments" made about him in a 40-page report filed by the bank and explaining why his account was closed down.

The apology comes after Farage obtained a copy of the document which made repeated references to Brexit and mentioned Farage's support of former US President Donald Trump. 

It further read that Farage did not "align with the bank's purpose and values" and was "seen as xenophobic and racist."

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On Wednesday, Farage wrote in a column for the Daily Telegraph that the document was a "Stasi-style surveillance report" that reads "like a pre-trial brief drawn up by the prosecution in a case against a career criminal".    

Reacting on the matter, Prime Minister Rishi Sunak said before the Parliament that "it wouldn't be right if financial services were being denied to anyone exercising their right to lawful free speech."

On Thursday, the UK government's finance ministry said that in the future, banking firms will have to provide viable explanations and delay any decision to close an account under new regulations.  

"Freedom of speech is a cornerstone of our democracy, and it must be respected by all institutions," said junior finance minister Andrew Griffith.  

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