Liz Truss was refused an account with Monzo for her Tory leadership campaign because she was a ‘politically exposed person’ with supporters blasting the online bank for its ‘appalling conduct’

• Truss’ campaign which raised half a million pounds was turned down by Monzo 
• It’s claimed this was refused because Truss was a ‘politically exposed person’

Liz Truss was refused a bank account for the campaign that led to her becoming Tory leader and Prime Minister last year, The Mail on Sunday can reveal.

Her campaign, which eventually raised half a million pounds in her successful contest against rival Rishi Sunak, was turned down by Monzo Bank.

A source close to Monzo said the online bank, which has seven million customers, refused the request to open an account because Ms Truss was a ‘politically exposed person’ (PEP).

But the source claimed the bank’s bosses learned of the decision only later – sparking dismay in the Monzo boardroom that they had rejected a serving Foreign Secretary and potential future PM.

The revelation comes just weeks after Chancellor Jeremy Hunt said he was once refused a Monzo account and after one of the bank’s staff was exposed for branding the Tories ‘evil’.

Liz Truss’ campaign which raised half a million pounds was turned down by Monzo

Last night, former Cabinet Minister David Jones – one of Ms Truss’s campaign supporters – condemned the bank’s ‘appalling conduct’ in blocking the request.

READ MORE: Jeremy Hunt ‘denied a bank account by Monzo’ with Chancellor joining other politicians in being blocked due to controversial anti-money laundering rules

Chancellor Jeremy Hunt has been revealed to have been denied a bank account with Monzo amid an ongoing row over ‘laborious’ anti-money laundering rules

Mr Jones said: ‘This is shocking – banks have no business engaging in any form of political censorship or political boycott.

‘If they are going to refuse people banking facilities, banks should be legally required to give a full explanation in writing on how the decision was made and the grounds for making it.’

Only last month, Ms Truss said she was ‘appalled’ at the treatment meted out to former Ukip leader Nigel Farage after he revealed how Coutts had closed his account because his political views did not align with the bank’s values.

The controversy led to the resignation of Dame Alison Rose, chief executive of NatWest Group, which owns Coutts, and sparked a series of so-called ‘debanking’ revelations concerning other leading politicians and so-called ‘PEPs’.

But yesterday, a source close to Ms Truss – who served just 49 days as PM before being forced to quit and replaced by Mr Sunak – confirmed that she too had been a debanking victim.

The source confirmed that during last summer’s Tory leadership contest, which in its final round pitted Ms Truss against Mr Sunak, her campaign applied to Monzo for an account but was turned down. The source added that no reason was given for the refusal.

The Truss leadership campaign raised about £500,000, including £100,000 from Fitriani Hay, the wife of James Hay, a former BP executive.

A source claimed this was refused because Liz Truss was a ‘politically exposed person’

Other donations came from interior designer Natasha Barnaba and J C Bamford Excavators Ltd.

None of the donors appears to be controversial or on any kind of international sanctions lists.

However, a source familiar with Monzo said: ‘She was turned down because she was a PEP.’

Last month, Mr Hunt said he had been rejected for a Monzo account before he became Chancellor in Mr Sunak’s Government last year.

It also emerged that Monzo closed down the account of the political party run by Gina Miller, the anti-Brexit campaigner.

Monzo was voted the best bank for personal accounts in a survey last week.

But last month a whistleblower revealed how, on a social media forum, one Monzo employee described the Tories as ‘evil’ and ‘ugly’, and suggested ex-Cabinet Minister Sir Jacob Rees-Mogg should ‘do the human race a favour and leave politics’.

Another staff member branded Harry Potter author J K Rowling as ‘vile’ for her views on transgender issues.

Last night, Monzo said: ‘We don’t comment on whether someone has applied for an account.’

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