A UK Finance spokesperson said:

Freedom of expression is vitally important and today’s report from the FCA makes clear that accounts are not being closed because of political beliefs or other lawfully held views.

"If an account is closed or an application declined, the main reason is dealing with financial crime concerns and the financial sector is at the forefront of efforts to tackle this crime.

"Accounts are only closed after extensive review and customers must be treated fairly. The government has announced there will be an increased notice period and more information provided around account closures. These are important changes and we are working with the government and other regulatory bodies to implement them.