A LEFT-WING news outlet has reportedly been de-banked by Lloyds Banking Group without explanation.
The Canary has alleged that Lloyds is "currently withholding a substantial amount of our money" and "has not explained why it has taken this action".
"Despite multiple communications from us, the bank has not been forthcoming with its reasoning," a statement on the outlet's website read.
The Canary was founded in 2015 in an attempt to diversify the UK's media landscape.
It is explicitly pro-Palestine and critical of mainstream media.
The outlet has banked with Lloyds for almost a decade, and the decision may affect the Canary's ability to get another bank account in the future.
The outlet said it has been "left with barely any funds" and that it is "now in a financially precarious situation", as it launched an appeal for donations.
A statement from the Canary said: "We do know that multiple other politically engaged people have suffered similar actions by other banks in recent times.
"It is not lost on us that powerful banks are able to restrict the financial activity of anti-Zionist and pro-Palestine organisations and individuals.
"Whilst we do not currently know the reasons behind our de-banking, we cannot afford to be naïve about this."
The Canary said it is an "outrage" that it has "been unceremoniously dropped into financial instability with no notice or explanation from Lloyds".
The statement added: "Our situation is a damning indictment of the treatment of independent media in this country – whereby you can be potentially ruined without recourse by banking giants like Lloyds.
"At this moment, we do not have enough cash to pay all our staff – again, because Lloyds is holding so much of our money."
A Lloyds spokesperson told The National: “We do not comment on individual customer accounts.”
It is understood that the bank's policy is not to close an account or prevent one from being opened on the basis of a customer's political or personal beliefs.
In order to help protect customers and meet regulatory obligations, The National understands that the bank sometimes asks for information about how an account is operated.
