The shocking bombshell was made in a televised interview with Oprah Winfrey in March in which Harry, 36, and his wife Meghan Markle, 39, revealed why they stepped down as senior royals last year. The tell-all was watched by nearly 50 million globally.
At the time, Harry told the media mogul that his father stopped taking his phone calls once the patriarch learned of his plans to leave.
"My family literally cut me off financially, and I had to afford security for us," Harry explained. "I’ve got what my mum left me, and without that, we would not have been able to do this."
It was last spring when the couple moved to Los Angeles and stayed in a home belonging to Tyler Perry. According to reports, the renowned producer also provided them a security team.
"Charles was quite upset at the suggestion he had cut Harry off," a source told Vanity Fair royal correspondent Katie Nicholl on Friday. "Initially he didn’t and he went on to provide for some time, but there was a point when Charles decided enough was enough."
"The bank of dad couldn’t keep handing out indefinitely," the insider added.
According to the outlet, the royal expenditure reports published on Thursday revealed that, in the fiscal year beginning of April 2020, Charles provided the families of Harry and his older brother Prince William £4.5 million or $6.27 million.
While the report didn’t break down how much money went to each prince specifically, a spokesman for the 72-year-old said the Prince of Wales had allotted "a substantial sum" to support the Duke and Duchess of Sussex as they transitioned out of their royal roles.
"That funding ceased in the summer of last year," the spokesperson from Clarence House explained. "The couple are now financially independent."
When asked about the comments Harry made to Winfrey, 67, about being financially cut off, the spokesperson replied, "I wouldn’t acknowledge that they are dramatically different. All I can tell you are the facts."
However, a spokesperson for the couple insisted to the outlet that there is no contradiction in what Harry revealed to Winfrey.
"You are conflating two different timelines and it’s inaccurate to suggest that there’s a contradiction," a spokesperson for the Duke and Duchess of Sussex told the outlet. "The duke’s comments during the Oprah interview were in reference to the first quarter of the fiscal reporting period in the U.K., which starts annually in April. This is the same date that the ‘transitional year’ of the Sandringham agreement began and is aligned with the timeline that Clarence House referenced."
The Clarence House spokesperson said that the couple’s decision to step back as senior royals was "a matter of enormous sadness to the family."
"But the prince wanted to help make this work, (and) allocated a substantial sum to the Duke and Duchess of Sussex, to help them with that transition," the representative added.
The couple, now residing in California, has since secured deals with Spotify and Netflix to solidify their financial independence.
"I betray no confidence when I say they’ve been very successful in becoming financially independent," said Charles’s spokesperson.
In the Apple TV+ docuseries "The Me You Can’t See," Harry cast blame on Charles for doing little to protect him and his brother William, 39, from the intense media scrutiny they faced as children.
"My father used to say to me when I was younger … ‘Well, it was like that for me, so it’s going to be like that for you,’" the prince told Winfrey in May.
The father of two said his father's expectation for the siblings to accept living under the same pressures as he did "doesn't make sense."
"Just because you suffered, that doesn’t mean that your kids have to suffer, in fact, quite the opposite. If you suffered, do everything you can to make sure that whatever negative experiences that you had, you can make it right for your kids," said Harry.
"Isn’t this all about breaking the cycle?’" he continued. "Isn’t this all about making sure that history doesn’t repeat itself?"
Representatives for the palace and Prince Charles did not immediately return Fox News' request for comment.
Markle, a former American actress, became the Duchess of Sussex when she married Britain’s Prince Harry in May 2018 at Windsor Castle. The couple welcomed a son named Archie Harrison Mountbatten-Windsor in 2019.
The Duke and Duchess of Sussex’s departures from royal duties began in 2020 over what they described as the British media’s intrusions and racist attitudes towards the former "Suits" star. The family now resides in the coastal city of Montecito, Calif.
In the wake of quitting royal duties, they gave an explosive TV interview to Winfrey, in which the couple described painful comments about how dark Archie’s skin might be before his birth. The duchess talked about the intense isolation she felt inside the royal family that led her to contemplate suicide.
Buckingham Palace said the allegations of racism made by the couple were "concerning" and would be addressed privately.
Winfrey and Harry collaborated on the mental-health series "The Me You Can’t See."
On June 4, the couple welcomed their second child, a daughter named Lilibet "Lili" Diana Mountbatten-Windsor. The child is eighth in line to the British throne.
The name pays tribute to both Harry’s grandmother, Queen Elizabeth II, whose family nickname is Lilibet, and his late mother, Princess Diana.
Fox News' Melissa Roberto and The Associated Press contributed to this report.