Banks was planning to present Nigel Farage with a cheque for £100k until William Hague responded to the news by calling him "a nobody". So he instead decided to make it a £1m donation!
UKIP's National Treasurer, Andrew Reid, has written a personal letter of thanks to William Hague for his fundraising efforts for UKIP and offered him the job of Deputy Treasurer and honorary membership of UKIP when he retires from front bench politics next year.
Dear Mr Hague,
In the first instance I would like to thank you for your efforts in raising funds for the UKIP cause. It is clear to me that your fundraising ability deserves formal recognition and I would like to offer you the role of Deputy Treasurer on or before your forthcoming retirement from front bench politics.
However to do this, requires you to be a member of the Party, but in your case, as you have raised such a substantial sum for the party, I have spoken with Mr Farage and he has authorised me to offer you honorary membership in recognition of your efforts in securing funds for our party.
I look forward to seeing you at many party events.
UKIP National Treasurer