Express asks Coutts staff if it's ok to share account details
For hundreds of years, Coutts has been the place to bank for the upper echelons of society, perhaps most notably the new Monarch.
Thanks to its exclusivity and tip-top discretion, the bank, founded in 1692, has served every member of the Firm since the time of King George IV.
In fact, Channel 5’s 2019 Secrets of the Royal Palaces documentary revealed that there is a Coutts cash machine stowed away in the basement of Buckingham Palace.
But Coutts, a subsidiary of NatWest of which almost 40 percent is owned by the taxpayer, has been hitting the headlines amid a row over UKIP leader Nigel Farage’s accounts being closed.
Here, Express.co.uk takes a look at the bank and its connection with the Royal Family.
READ MORE: BBC finally corrects their Farage Coutts claims – but still refuses to apologise
Princess Anne at a Coutts event in 2019 (Image: Getty)
In order to join the Coutts clientele, Britons and expats must have ￡3million or more, or borrow — such as through a mortgage — or invest more than ￡1million with them. Hence, most of those who bank there are among the uber-rich.
The bank, which now has its headquarters on the Strand in London, requires a pretty penny but great wealth does not guarantee entry.
Former chief executive Gordon Pell told the Evening Standard in 2012: "In order to get a Coutts chequebook you have to be seriously special. You could be exceptionally rich and we still might not want to give you an account."
Apart from the Royal Family, several high-profile customers include the Beckhams, and Sir Elton John as well as the likes of Charles Dickens, Lord Nelson and the Beatles in the past.
The Queen Mother had an overdraft of ￡4million with Coutts (Image: Getty)
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The Queen Mother, known to be a compulsive spender with a love of private parties and expensive hotels, was among their royal clients. Once, she bounced a ￡4million cheque, according to the International Churchill Society.
And in the late Nineties, details of her gobsmacking overdraft came to light.
In 1999, the then 98-year-old received a ￡643,000 a year salary but her spending amounted to more than ￡1million — just under ￡2million today.
Luckily, she had a ￡4million overdraft with Coutts about which the late Queen Elizabeth reportedly joked: "Coutts would have folded long ago but for Mummy’s overdraft".
However, as a result of her spectacular overspending, the Queen Mother ran up a great debt, leaving behind more than ￡7million when she died.
The 9 fascinating and intimate secrets of Royal Family life revealed by Prince Harry
Prince Harry’s new book, Spare, makes a number of explosive revelations and accusations about his family, in particular about Prince William.
From the nicknames the family uses to the Queen whipping up a salad dressing, Prince Harry's new memoir has lifted the lid on royal life.
Express.co.uk has put together nine of the most fascinating secrets set out in the book HERE.
Prince Harry’s new book, Spare, makes a number of explosive revelations and accusations about his family, in particular about Prince William.
From the nicknames the family uses to the Queen whipping up a salad dressing, Prince Harry's new memoir has lifted the lid on royal life.
Express.co.uk has put together nine of the most fascinating secrets set out in the book HERE.
The Queen Mother, known to be a compulsive spender with a love of private parties and expensive hotels, was among their royal clients. Once, she bounced a ￡4million cheque, according to the International Churchill Society.
And in the late Nineties, details of her gobsmacking overdraft came to light.
In 1999, the then 98-year-old received a ￡643,000 a year salary but her spending amounted to more than ￡1million — just under ￡2million today.
Luckily, she had a ￡4million overdraft with Coutts about which the late Queen Elizabeth reportedly joked: "Coutts would have folded long ago but for Mummy’s overdraft".
However, as a result of her spectacular overspending, the Queen Mother ran up a great debt, leaving behind more than ￡7million when she died.
The Queen Mother, known to be a compulsive spender with a love of private parties and expensive hotels, was among their royal clients. Once, she bounced a ￡4million cheque, according to the International Churchill Society.
And in the late Nineties, details of her gobsmacking overdraft came to light.
In 1999, the then 98-year-old received a ￡643,000 a year salary but her spending amounted to more than ￡1million — just under ￡2million today.
Luckily, she had a ￡4million overdraft with Coutts about which the late Queen Elizabeth reportedly joked: "Coutts would have folded long ago but for Mummy’s overdraft".
However, as a result of her spectacular overspending, the Queen Mother ran up a great debt, leaving behind more than ￡7million when she died.
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The Coutts headquarters in central London (Image: Getty)
The bank was founded 331 years ago, by brothers Thomas and James Coutts until the latter bowed out due to ill health in 1775.
Under Thomas, who was known as the "Court Banker", it flourished. He was close with King George III, helping manage his affairs, as well as Georgiana the Duchess of Devonshire, who he advised on her gambling habit which left her in debt.
Coutts has had royal patronage for centuries as Queen Anne asked the bank, which was also then a goldsmith, to make the badges for the Order of the Thistle.
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