By: Arron Williams
September 7 2022
New U.K. bank policy cannot fully freeze bank accounts, and claims of a globalist agenda are related to known conspiracy beliefs.
A YouTube video claiming that U.K. banks have made new changes to their policy to support a globalist agenda has been shared on Facebook. The video, titled "UK Banks FREEZE People's Accounts Due to Recession," discusses a recently added condition by several U.K. banks that allows them to freeze people's accounts or impose a charge if there are economic circumstances affecting the banking industry. The video implies links to a globalist agenda and that this policy enables a greater level of control over the population, where voicing opinions or protests could lead to people losing access to their bank accounts or finances. These claims about globalist control are reinforced in the video through remarks about global power grabs and a thumbnail that claims "they're coming for your money."
Some U.K. banks have implemented changes to their policies, including a condition that they may restrict the amount an account holder has in their bank via applying a limit or charge during economic scenarios that affect the banking industry, if necessary. The Halifax guide to changes can be found online, and claims that Lloyds and NatWest have also added the new policy have circulated on Twitter. It is currently uncertain whether all banks in the U.K. have made these changes.
However, the claims from the YouTube video about accounts being frozen and protesters losing access to their bank accounts are misleading. The policy condition in question does not mention the full freezing of accounts or that account holders will be unable to access or use their funds. It only mentions a restriction via a charge or cap if the amount of funds exceeds a certain amount, not prevention of account access.
Also, the documents do not mention restricting the amount of money in someone's account based on factors such as protest or expressed opinion. The policy only focuses on "economic circumstances that affect the banking industry." The policy is clear that it would only come into force in an extreme event, such as a recession and that even then, accounts would not be frozen.
The YouTube video also links these banking changes to general globalist conspiracies such as the New World Order and Great Reset. The video suggests this primarily by framing the freezing of bank accounts of Freedom Convoy protestors in Canada as similar to this new change within U.K. banks, adding that it's a push to control the population.
Logically previously fact-checked the Canadian Freedom Convoy protests and bank freezes. At least 76 bank accounts were frozen, containing approximately $3.2 million between them. These accounts belonged to a small group of influencers in the protest, and the action taken was a governmental response to protestors being unwilling to withdraw. It was not related to general independent banking policy. The video conflates this previous situation with U.K. bank changes to push general conspiracy theories. There is no significant correlation between the two or any information that implies the new U.K. bank policy will be used to freeze the accounts of protesters. Logically has previously debunked multiple claims related to globalist agendas and their related conspiracy theories.
A YouTube video shared on Facebook falsely states that new U.K. bank changes can freeze accounts, target protesters, and is part of a globalist agenda. These claims are unsubstantiated, and current bank policies make no claim that they will be used in this way. There is no mention of full account freezing or protests in any relevant documentation. The claims around a globalist agenda being created to control the population are part of a known conspiracy theory. Therefore, we have marked this claim as false.