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Author Topic: Bank account closed or is it slow news day?  (Read 691 times)

saltysweet

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Bank account closed or is it slow news day?
« on: 07 September 2019, 05:38:59 pm »
Don't know how 'real' this is, I see a legal and out, Australian SW had her bank account closed by National Australia Bank (NAB) because of high 'risks...of providing banking services to customers involved in certain industries or professions'. The same SW criticises Paypal for doing the same thing, but that's a well known breach of PP's T&C. Slow news day? or we aren't hearing an accurate account of the issue?
« Last Edit: 08 September 2019, 06:51:42 pm by saltysweet »
'You couldn't sing to save your life!' George Michael's Dad, then fast forward- 115 million record buyers disagreed. Parents eh!

CelesteManchester

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Re: Australian bank close account or is it slow news day?
« Reply #1 on: 07 September 2019, 06:26:28 pm »
This happened to a girl over here, I read about it on Switter a few months back *thinking*...it was a debit card. They closed her account & she lost all her $$ too bc of "suspicious activity". The girls on there were raising funds for her bc she very unfortunately had all her eggs in that 1 basket *wince* & lost everything. I think I tossed $50 in the pot.

I've honestly lost count how many debit cards I have at this point, but I'm razor sharp about knowing what goes on what card, personally/professionally. I also use completely different brand cards by different companies ~ AmEx/Visa/whatever/ ~ for the personal & pro stuff. I was always careful, but have stepped up my game bc of this.
An American on a British site, still learning the slang😉

saltysweet

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Re: Bank close account or is it slow news day?
« Reply #2 on: 08 September 2019, 06:48:19 pm »
The bill, H.R.1865 passed in 2017 is apparently supposed to stop enabling traffickers and organised crime but seems to have been used on some indy SWs, stimulating banks to overreact and shut accounts. Celeste good on you donating! I had a nose about, is this  Bianca Baker who had her account frozen with $13 thou in it? She says it's the bank's 'morality clause' in their T&C.

I googled...apparently it can seem similar to a normal banking practice called, de-risking...eg targetting financial terrorism, money laundering and illegal immigrants.


'Morality clauses in contracts  isn't a new thing and common in 1950s Hollywood film industry...Charley 'party boy' Sheen and Ray Rice American Footballer and woman beater were sacked due to “conduct that is considered contrary to community standards of justice, honesty, or good morals.” Usually involves acts of “baseness, vileness or depravity.” Athletes Tiger Woods and Lance Armstrong have lost endorsement deals due to breaking their morality clauses. I'm guessing someone at the bank decided Ms Baker was fair game?
« Last Edit: 09 September 2019, 02:35:59 pm by saltysweet »
'You couldn't sing to save your life!' George Michael's Dad, then fast forward- 115 million record buyers disagreed. Parents eh!

redbottoms

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Re: Bank account closed or is it slow news day?
« Reply #3 on: 08 September 2019, 06:54:20 pm »
So there's a chance our accounts could be frozen even if we declare our income?

CelesteManchester

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Re: Bank account closed or is it slow news day?
« Reply #4 on: 08 September 2019, 07:02:51 pm »
Salty, I just don't recall at this point, but I sure didn't realize it was that much, holy shit.

Nadiya, I'm sorry, I just don't know *apologetic look*.
An American on a British site, still learning the slang😉

saltysweet

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Re: Bank account closed or is it slow news day?
« Reply #5 on: 08 September 2019, 07:12:11 pm »
Hi Red, my post mentions Australia and USA, I can't say if it has relevance to UK. Haven't heard anything similar here. Just throwing out there to share experiences and feedback especially with members who live there. :)

Both are 'out', Bianca Baker's in USA and the other SW, Charlie Ford is in Australia and is a legal adult performer. I don't know enough about the cases really. As I said we probably don't know the full story.

I read a bit.... and UK banks close accounts for reasons non-adult related reasons to all the time. It's not something strange or unusual. Most often linked to big money movements and links with countries deemed risky. Not particularly ho hunting at all

This is a bit out of date but says 'A 2016 report commissioned by the UK Financial Conduct Authority (FCA) revealed that, between them, two large (unnamed) UK banks were closing about 1,000 personal and 600 business/corporate accounts per month for “risk appetite-type reasons”'

Celeste yes it's a heap isn't it! I checked out Ms Baker's twitter.
« Last Edit: 12 September 2019, 10:36:37 pm by saltysweet »
'You couldn't sing to save your life!' George Michael's Dad, then fast forward- 115 million record buyers disagreed. Parents eh!

saltysweet

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Re: Bank account closed or is it slow news day?
« Reply #6 on: 12 September 2019, 01:43:42 am »
More news-National Australian Bank (NAB) has stopped providing banking services to brothels and escort agencies. Different territories have different laws regarding legality of sex work and brothels. eg Licensed brothels are allowed in Queensland and New South Wales but illegal in Australian Capital Territory and Western Australia.

So you could be a legal brothel and find your bank account closed by NAB.
« Last Edit: 12 September 2019, 02:16:38 am by saltysweet »
'You couldn't sing to save your life!' George Michael's Dad, then fast forward- 115 million record buyers disagreed. Parents eh!

CelesteManchester

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Re: Bank account closed or is it slow news day?
« Reply #7 on: 12 September 2019, 01:54:13 am »
Gak!!😮😮
An American on a British site, still learning the slang😉

Veggiegal

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Re: Bank account closed or is it slow news day?
« Reply #8 on: 12 September 2019, 10:02:06 pm »
So there's a chance our accounts could be frozen even if we declare our income?

No, you very much should declare your income. Escorting is legal in the UK, and therefore the income gained from it is legal. Certain banks may have terms in their account use which states they do not want their accounts used for sex work income, whichbis doubtful as that is very specific and prejudice. Our money is no less legal than any ither cash based business, like taxi drivers or hairdressers. We are not in breach of money laundering, as our income is made legally. If you don't declare your income to HMRC, then you are guilty of tax fraud but I don't see this being the responsibility of the banks to monitor this in anyway.

It's unnerving to think a bank would close and account like this with no warning but I don't see this being a common occurance unless you are adding insane amounts of money, like 50k a week with no solid explanation of where it came from. And less face it, even escorting doesn't rack in that much money.