What to do if you are 'debanked' as complaints soar

Financial Ombudsman reports sharp rise in cases highlighted by Nigel Farage's experience with Coutts

Debanked: Padlocked banks cards on keyboard
The government is introducing new regulations that would increase the notice banks have to give customers before closing their accounts
(Image credit: Peter Dazeley / Getty Images)

Complaints about debanking have soared as worried customers turn to the industry watchdog for help.

Cases referred to the Financial Ombudsman Service (FOS) rose by 44%, the Commons' Treasury committee was told, with 3,858 new complaints about closed accounts received in the 12 months to the end of March.

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Rebekah Evans joined The Week as newsletter editor in 2023 and has written on subjects ranging from Ukraine and Afghanistan to fast fashion and "brotox". She started her career at Reach plc, where she cut her teeth on news, before pivoting into personal finance at the height of the pandemic and cost-of-living crisis. Social affairs is another of her passions, and she has interviewed people from across the world and from all walks of life. Rebekah completed an NCTJ with the Press Association and has written for publications including The Guardian, The Week magazine, the Press Association and local newspapers.