"There must be be some aspect of contract law under which he can do so..."


As I recall it's in the fine print when you sign onto an account that they can essentially do what the hell they like, and besides isn't all the money in your account these days legally classed as the banks money: the account holder merely owning some kind of vaguely defined low profile "stock" in the bank itself?

"I still dont see why Lloyds should debank a left periodical for accepting a an unsually big sum from a right wing millionaire. I would expect Lloyds to be rather glad of it."

Yes ... perhaps because they know it will flag up on the AI algorithm and then give them opportunity to close the "troublesome" account down?