Hunting clubs and companies with links to firearms have been blacklisted by SumUp, a major UK financial services firm, in a further example of what is being termed “de-banking.”
SumUp, one of the most popular card reader providers, has placed “hunting clubs/activities” on its list of “restricted businesses,” positioning them alongside illegal or legally questionable businesses and products.
Several hunts have had card machines switched off during events, leaving them with no way of accepting credit or debit payments from would-be supporters, The Telegraph reported on Aug. 2.
A Number of Incidents
The incident is one of “a number ... where events organised by hunts—many of which were raising money for charitable causes—had their accounts suspended mid-way through fundraising, leaving organisers without any means to collect payment and therefore having an impact on the donations subsequently made to good causes,” Polly Portwin, director of the campaign for hunting at the Countryside Alliance, told The Epoch Times in a statement.The new restrictions followed days after the Financial Conduct Authority (FCA) introduced its new “Consumer Duty,” a plan intended to end rip-off fees and excessive charges, while holding companies to greater scrutiny.
It also mandates that services will “provide timely and clear information that people can understand about products and services so consumers can make good financial decisions, rather than burying key information in lengthy terms and conditions that few have the time to read.”
While the issue isn’t a new phenomenon, reports of de-banking of rural businesses that include gunmakers, as well as shooting and hunting entities are becoming more frequent, the Countryside Alliance told The Epoch Times.
“The Countryside Alliance will be taking action to ensure that its members are not discriminated against and excluded from taking debit and credit card payments by a financial services company as the much-publicised Nigel Farage de-banking story continues,” the organisation said in an email.
A spokesperson for SumUp told The Telegraph, “SumUp operates under strict requirements imposed by the financial regulator, the card schemes, and our acquiring banks, who we rely on to operate our payment services.
‘Values Are Important’
This latest move by a financial service company comes in the wake of the de-banking saga in which the former leader of UKIP, Mr. Farage, have his account with NatWest’s private banking arm, Coutts, closed before the company offered to reinstate it. The fallout led to CEOs Alison Rose and Peter Flavel stepping down.“Nigel Farage also spoke up about the broader issue that’s impacting other people," Prime Minister Rishi Sunak told GB News on Aug. 1. That’s my primary concern, because ultimately, this isn’t about any one individual. This is about values. Values are important to me and important to our country.”
It “is really important, rather than the individuals, to focus on the values that are at stake, values of freedom of expression and privacy,” he added.
The latest restrictions have led to increased calls for greater transparency and an overhaul of the way that financial services are conducted.
“It is disgraceful that members of rural communities and those who take part in a lawful activity can be discriminated against in this way and effectively treated as criminals,” Ms. Portwin added.
Mr. Farage said that he has been “inundated” by small businesses and individuals who have contacted him via his new website, AccountClosed.org, to report their own de-banking situations. Speaking to GB News on July 30, he said the numbers are in the “thousands.”
