In 1948 he married Barbara Wells who in 1987 was awarded the OBE for services to the Women's Liberal Federation.
He was appointed a Commander of the Order of the British Empire (CBE) for political service in the 1972 New Year Honours.
[1][2] He was created a life peer on 7 January 1975 as Baron Banks, of Kenton in Greater London.
[6] He was sometime speechwriter for Jo Grimond and a frequent contributor to Liberal News as well as author of many pamphlets and policy papers.
Banks was a strong pro-European, a founder member and one time chairman of the Liberal European Action Group and was President of the British Council of the European Movement from 1986 to 1994.