Author Topic: Need a new bank (Read 3387 times)

Tuppence · « **on:** 21 March 2024, 08:55:26 am »

Hi to everyone
Just joined the forum, need some advice urgently

I have been in the industry for nearly ten years providing massages. I have had a business bank account with metro during this time. I pay cash into the account and all my expense come out of it. However they have just given me two months notice saying thy are closing my account, not sure if it is due to the cash being paid in or my OF. So on the search for a new bank. Even my HMRC payment comes out of it

Any advice on a bank that is easy to open in 2024 . They now need so much more information , which obviously in our profession is not always easy to provide. Any help is appreciated as I am a little bit stressed about it all

Has anyone rents tried starling, tide or any of the other online banks

Welshchick86 · « **Reply #1 on:** 21 March 2024, 10:58:41 am »

I have a business bank account with Tide, and get my OF paid into it, expenses paid out and cash transferred from my chase account (pay it in via the PO).... had it a couple of months and no issues so far.

I wish banks were less tw*tish about this.

Tuppence · « **Reply #2 on:** 21 March 2024, 11:00:59 am »

Did they ask for much info about your business

FullyFashioned · « **Reply #3 on:** 21 March 2024, 12:36:52 pm »

I’ve opened a current account with them actually stating to them at the branch that I’m an escort - zero problems. Also had business account for onlyfans and aw webcam credits.

They also have “adult entertainment” or “escort service” option in their drop-down menu when you set up an account online.

Sure there wasn’t any thing extraordinary that could have triggered it off?

Tuppence · « **Reply #4 on:** 21 March 2024, 12:48:14 pm »

Nothing but I have read they are cracking down on only fans

RB1 · « **Reply #5 on:** 21 March 2024, 01:34:52 pm »

For only fans payment
Suits me is only fans content creator friendly
They actually mention it in there adverts

Tuppence · « **Reply #6 on:** 21 March 2024, 02:14:07 pm »

Yes but they cannot except international payments so they do not have an IBAN number which inky fans needs. Has anyone used suits me just so a bank account

ana30 · « **Reply #7 on:** 21 March 2024, 03:29:37 pm »

Quote from: Tuppence on 21 March 2024, 08:55:26 am

Hi to everyone
Just joined the forum, need some advice urgently

I have been in the industry for nearly ten years providing massages. I have had a business bank account with metro during this time. I pay cash into the account and all my expense come out of it. However they have just given me two months notice saying thy are closing my account, not sure if it is due to the cash being paid in or my OF. So on the search for a new bank. Even my HMRC payment comes out of it

Any advice on a bank that is easy to open in 2024 . They now need so much more information , which obviously in our profession is not always easy to provide. Any help is appreciated as I am a little bit stressed about it all

I have a business account with them and was told I could deposit as much cash monthly, out of curiosity what line of work did you tell them you do? I was asked that in both the business and the savings account, wrote “therapist”, haven’t had an issue (crosses fingers).

RB1 · « **Reply #8 on:** 21 March 2024, 04:41:58 pm »

Quote from: Tuppence on 21 March 2024, 02:14:07 pm

Yes but they cannot except international payments so they do not have an IBAN number which inky fans needs. Has anyone used suits me just so a bank account

I have it as a back up Account and I take some wishhush payments on it and deposit cash with no problem

Tuppence · « **Reply #9 on:** 21 March 2024, 06:33:18 pm »

Hi Ana

Told them I was a therapist , but I have read recently that metro is one of the banks shutting down accounts with OF payments, also chase as well

ana30 · « **Reply #10 on:** 21 March 2024, 08:28:51 pm »

Quote from: Tuppence on 21 March 2024, 06:33:18 pm

Hi Ana

Told them I was a therapist , but I have read recently that metro is one of the banks shutting down accounts with OF payments, also chase as well

I'm not on OF so that's not an issue with my metro account, if you have a savings account and keep putting plenty of cash in it that's going to raise flags just because it's not a business account. I have no idea what problem metro has with your account but maybe the combo of OF and putting lots of cash has raised flags? Again: total speculation but lately banks seem to be cracking down on sex industry for whatever reason and they might be getting the hint of that? (specially if you're using that metro account for AW or escort directories payments for your ads that's triggering more flags).

Can't you just ask them?

Mirror · « **Reply #11 on:** 21 March 2024, 08:54:50 pm »

Quote from: ana30 on 21 March 2024, 08:28:51 pm

I'm not on OF so that's not an issue with my metro account, if you have a savings account and keep putting plenty of cash in it that's going to raise flags just because it's not a business account. I have no idea what problem metro has with your account but maybe the combo of OF and putting lots of cash has raised flags? Again: total speculation but lately banks seem to be cracking down on sex industry for whatever reason and they might be getting the hint of that? (specially if you're using that metro account for AW or escort directories payments for your ads that's triggering more flags).

Can't you just ask them?

I am wondering this too, I know someone running a successful non-sex work business who's bank told them they'd be closing their business bank account. When they asked why they were given a reason - then were able to provide information/explanation so they could keep the account. Wasnt even a transaction thing.

I would ask.

Tina-W · « **Reply #12 on:** 23 March 2024, 09:28:54 am »

You are entitled to an explanation for the reason why the bank is taking this action. You should ask that question and also ask explicitly where in their rules and regs it states that they can do this.
If you are a sole SW you are carrying out a perfectly legal business so they are being discriminatory and as such can only do this if they have a legal exclusion policy

Tuppence · « **Reply #13 on:** 23 March 2024, 11:44:00 am »

They have told me it is due to the amount of cash going into the account and money laundering. But I think it is due to OF and me paying for aw from it which they cannot say as that is discriminatory. However if they really though it was money laundering they wouldn’t let me till day on using the account as normal they would freeze it. I have just read that Metro banks closed the orporste account for Only fans the company so thy really dont like them

amy · « **Reply #14 on:** 23 March 2024, 12:44:43 pm »

Quote from: Tina-W on 23 March 2024, 09:28:54 am

You are entitled to an explanation for the reason why the bank is taking this action. You should ask that question and also ask explicitly where in their rules and regs it states that they can do this.
If you are a sole SW you are carrying out a perfectly legal business so they are being discriminatory and as such can only do this if they have a legal exclusion policy

Banks are businesses and like other businesses can refuse a customer for any reason they like provided it isn't a protected characteristic, and also provided that they have treated the customer fairly (by giving them adequate notice and so on). They also don't have to explain why any more than we do for turning a punter down.

Since you can explain that the cash deposits are your earnings it does sound like the Only Fans money is the problem here - have you tried any of the others? I don't use OF so I can't be much help here

See also the main SAAFE.info site for more Support And Advice For Escorts

Author Topic: Need a new bank (Read 3387 times)

Tuppence

Need a new bank

Welshchick86

Re: Need a new bank

Tuppence

Re: Need a new bank

FullyFashioned

Re: Need a new bank

Tuppence

Re: Need a new bank

RB1

Re: Need a new bank

Tuppence

Re: Need a new bank

ana30

Re: Need a new bank

RB1

Re: Need a new bank

Tuppence

Re: Need a new bank

ana30

Re: Need a new bank

Mirror

Re: Need a new bank

Tina-W

Re: Need a new bank

Tuppence

Re: Need a new bank

amy

Re: Need a new bank