Banks are freezing webcam models earnings!!??

[Hollygirl11]

Hi there so I'm going to be starting webcam modeling and I'm concerned that I have been hearing on Twitter that Bank of America and Chase is freezing webcam models earnings!! What bank do you recommend that works for you and they don't freeze your earnings ? Thanks

 

[SaffronBurke]

Citi bank is sex-worker friendly. Wells Fargo is, too, but they're shady bastards and I wouldn't trust them with my penny jar, let alone my income.

Some models have good luck with smaller local banks and/or credit unions, while others have been burned very badly by them. This is my preferred route, just check to see if they have a "morality clause" in their terms of service - if they don't, you're good to go. If they do, avoid!

 

[Majora Mink]

Citi bank is sex-worker friendly. Wells Fargo is, too, but they're shady bastards and I wouldn't trust them with my penny jar, let alone my income.

Some models have good luck with smaller local banks and/or credit unions, while others have been burned very badly by them. This is my preferred route, just check to see if they have a "morality clause" in their terms of service - if they don't, you're good to go. If they do, avoid!

Is there any other "legalese" worth searching for? I skimmed one Terms of Service and my head is spinning. @_@ I'm debating my choice of bank, too.

Unless they're lumping adult-sites with illegal gambling or foreign accounts, I'm not really sure how banks would benefit from this action. As long as you aren't evading taxes and using fake names as a recipient...

If a cam site has most of their assets off-shore, I'd imagine that'd be problematic with regards to AML... is it certain sites these model are using? And are the banks freezing the account of the model, or just freezing the particular deposit? Getting a sudden, large, random deposit is a red flag for any bank (and yet, it's the bread-and-butter of a good cam show ._.)

 

[SaffronBurke]

is it certain sites these model are using? And are the banks freezing the account of the model, or just freezing the particular deposit? Getting a sudden, large, random deposit is a red flag for any bank (and yet, it's the bread-and-butter of a good cam show ._.)

@BiancaBaker recently had her accounts frozen by Bank of America because, despite making the same amount per month for years, they decided that her Niteflirt deposits were "suspicious" - which, if that were the case, they should have taken issue with years ago when she started doing Niteflirt. They also have a part of their TOS that states that they can shut your account down if you do anything that they disagree with morally.

 

[Majora Mink]

@BiancaBaker recently had her accounts frozen by Bank of America because, despite making the same amount per month for years, they decided that her Niteflirt deposits were "suspicious" - which, if that were the case, they should have taken issue with years ago when she started doing Niteflirt. They also have a part of their TOS that states that they can shut your account down if you do anything that they disagree with morally.

Can you link me to which document that's in (there's a lot of ToS-ish pdfs for each service/product...)? I skimmed the stuff just on BofA's public site, but ctrl+f for the term "moral" didn't pull up anything. I saw where it said "We can put a hold on a deposit based on the sender" but it didn't elaborate on what types of senders warrant a freeze/hold. (Lord help me, I don't want to call their service center and ask hahahahahah )

I've been interested in opening a Citi account because it's just such a massive global bank... maybe the time has come LOL

 

[SaffronBurke]

Can you link me to which document that's in (there's a lot of ToS-ish pdfs for each service/product...)? I skimmed the stuff just on BofA's public site, but ctrl+f for the term "moral" didn't pull up anything. I saw where it said "We can put a hold on a deposit based on the sender" but it didn't elaborate on what types of senders warrant a freeze/hold. (Lord help me, I don't want to call their service center and ask hahahahahah )

I've been interested in opening a Citi account because it's just such a massive global bank... maybe the time has come LOL

I wouldn't know where it is, as I'm a fan of small local banks. Bianca has had her lawyer go through the TOS of all the major banks, and the only ones that don't have the morality clause are WF and Citi.

 

[tekwolf]

You can look for Dutch banks like ING and Abn Amro they got international offices

 

[Hollygirl11]

Thank you everyone very much

 

[Hollygirl11]

Wow that's crazy!! So what bank are you banking with now that's better than bank of America ? Or what do you suggest for better banks ? Thanks

 

[BiancaBaker]

Hi there so I'm going to be starting webcam modeling and I'm concerned that I have been hearing on Twitter that Bank of America and Chase is freezing webcam models earnings!! What bank do you recommend that works for you and they don't freeze your earnings ? Thanks

Do not go with BOA. I had my account frozen for 48 hours.

Just a little back story - Ive had this account since 2007. I have an Scorp meaning they knew that large amounts were going to be coming in. I even told them when my income raised how much it was raising, etc. I pay my taxes just like everyone else. Honestly, their policy is super vague, which leaves a broad path for discrimination to occur. If other SWs tell me their accounts were closed for these reasons, it's a warning I plan on following. I don't think they're somehow misunderstanding on how to use a bank. I have made more than 8k for 3 years straight. for the last 6 years my income has been around 60-82k so it has 0 to do with the amount coming in.

Here are a few articles I suggest you read on the subject: http://www.xbiz.com/news/178172/chase-bank-slams-the-door-on-more-porn-stars

https://docs.google.com/document/d/1c1nqawo1QuiVlpA3bhS8xyDxzDDlRq6BoogAoc91OmU/edit

I made 6 trips to the actual Bank of America. Their morality clause is written super weird and honesty its written so it doesn't look like they discriminate but they DO. I have to pick up several things from my lawyer Monday I asked if he could highlight each section for me. I'm not sure how willing he is but I did ask. Although anyone can bring it to a lawyer and they will tell you the same thing.Banks can do what they want and ultimately I may not even be safe. Someday the small credit unions may follow suit. It's scary!!!

 

[Guy]

Do not go with BOA. I had my account frozen for 48 hours.

Just a little back story - Ive had this account since 2007. I have an Scorp meaning they knew that large amounts were going to be coming in. I even told them when my income raised how much it was raising, etc. I pay my taxes just like everyone else. Honestly, their policy is super vague, which leaves a broad path for discrimination to occur. If other SWs tell me their accounts were closed for these reasons, it's a warning I plan on following. I don't think they're somehow misunderstanding on how to use a bank. I have made more than 8k for 3 years straight. for the last 6 years my income has been around 60-82k so it has 0 to do with the amount coming in.

Here are a few articles I suggest you read on the subject: http://www.xbiz.com/news/178172/chase-bank-slams-the-door-on-more-porn-stars

https://docs.google.com/document/d/1c1nqawo1QuiVlpA3bhS8xyDxzDDlRq6BoogAoc91OmU/edit

I made 6 trips to the actual Bank of America. Their morality clause is written super weird and honesty its written so it doesn't look like they discriminate but they DO. I have to pick up several things from my lawyer Monday I asked if he could highlight each section for me. I'm not sure how willing he is but I did ask. Although anyone can bring it to a lawyer and they will tell you the same thing.Banks can do what they want and ultimately I may not even be safe. Someday the small credit unions may follow suit. It's scary!!!

I looked for a morality clause in Chase's checking account holder agreement and I couldn't find it. Where did your lawyer find it?

 

[BiancaBaker]

I looked for a morality clause in Chase's checking account holder agreement and I couldn't find it. Where did your lawyer find it?

I don't/didn't have chase so not sure. It's deff there though because chase was the first bank to come out and say they don't accept sex workers.

 

[LaceyRoyce]

I looked for a morality clause in Chase's checking account holder agreement and I couldn't find it. Where did your lawyer find it?

It may be in the business account part

 

[Guy]

It may be in the business account part

Still couldn't find it.

 

[BiancaBaker]

Still couldn't find it.

Honestly, it's worded super weird with BOA so Im not sure how chase has it worded? There are a ton of articles about chase though and BOA. You could also ask for a FULL TOS from both banks & take it to a lawyer (like I did) it's the only way to have someone point it out for you.

 

[Terra Storm]

hmm I have been using Chase for a year with no issues.. do they really do this??

 

[BiancaBaker]

hmm I have been using Chase for a year with no issues.. do they really do this??

Yes they straight up and said they are anti sex worker. They are the worse get out ASAP. I wouldn't wish what happened to me on my worse enemy. I had BOA and the way they write there TOS is ridiculous. The articles I linked above are scary, read them!

 

[AudriTwo]

hmm I have been using Chase for a year with no issues.. do they really do this??

https://www.cnbc.com/2014/04/26/chase-closing-accounts-of-porn-stars-report.html

 

[peacheepie]

Citi bank is sex-worker friendly. Wells Fargo is, too, but they're shady bastards and I wouldn't trust them with my penny jar, let alone my income.

Some models have good luck with smaller local banks and/or credit unions, while others have been burned very badly by them. This is my preferred route, just check to see if they have a "morality clause" in their terms of service - if they don't, you're good to go. If they do, avoid!

CITI is on the list @BiancaBaker linked to.... I'm looking at the TOS now for my local bank and don't see anything. I'm in a swing state, and it's pretty hit or miss here with conservative policies. Bianca, what was the policy written as? Here is what my bank for deposits to my vanilla job says... was it something like this? I have multiple accounts open under 3 different banks because I already don't trust them. If I wasn't worried about theft or fire, or the possibility of audit as someone fully self-employed, I wouldn't just keep it all in a safe and avoid the banks, I swear. *ugh*

 

[Guy]

What about those online only banks? Ally Bank, Simple, Bank of Internet USA, etc.

 

[peacheepie]

What about those online only banks? Ally Bank, Simple, Bank of Internet USA, etc.

The SS I put up is from Ally. IDK if sex worker money is included in what they may not allow. I don't put that money there, so I hope to never know!

 

[TashaRose]

What about those online only banks? Ally Bank, Simple, Bank of Internet USA, etc.

Simple uses Compass Bank, so even if simple is cool with it (they don't seem to have had a problem the 5 or 6 years I've had them), it is possible that Compass could have issues. I haven't taken the time to look though.

 

[Pure_emotion]

Simple uses Compass Bank, so even if simple is cool with it (they don't seem to have had a problem the 5 or 6 years I've had them), it is possible that Compass could have issues. I haven't taken the time to look though.

Is this an international bank?

 

[yummybrownfox]

I use a smaller local bank that’s within walking distance of my apartment.

 

[SoTxBob]

Just a comment about Citi ... Had them for years and out of the blue they shut down all of their brick n mortar places here. Kind of hard to make any cash depos when there's no place with a teller. I did call the 800# and the lady said that they closed all branches in the state but wouldn't say any more.. They still have "locations" listed on their website but they are ATM's and not a real bank. They still have a large web presence & decent CC's if you do everything online & don't need to physically use them.

 

[BiancaBaker]

CITI is on the list @BiancaBaker linked to.... I'm looking at the TOS now for my local bank and don't see anything. I'm in a swing state, and it's pretty hit or miss here with conservative policies. Bianca, what was the policy written as? Here is what my bank for deposits to my vanilla job says... was it something like this? I have multiple accounts open under 3 different banks because I already don't trust them. If I wasn't worried about theft or fire, or the possibility of audit as someone fully self-employed, I wouldn't just keep it all in a safe and avoid the banks, I swear. *ugh*

YES, that is somewhat how BOA Was written!!!! It was worded weirder and with more strange words but that clause is a "morality" clause, if you call them I bet they have an umbrella under that - when you signed the Bank TOS it's different from the TOS on their site so there is more to it and that's where most of the wording was for BOA but the initial TOS/Morality was written VERY closely like that one. So deff get the fuck out to be safe.


I know citibank is there is a chance that all banks will be doing this, This is what my lawyer advised me. Unfortunately, with sex work, there is a stigma and any bank at any time could add a clause that could potentially hurt/seize our money. If you are an SCORP or an LLC (like me) you should not have any issues. I was even told my situation (since I am a legit SCORP) was never even heard of. I think the risk is more for individuals (like if you just go in and open a bank account) my lawyer advised me when I opened the bank account to call in (so it's recorded) and have me tell them I am an SCORP and I am a sex worker. Citibank and wells fargo both were very nice and I spoke with a general manager (because the regular bank people you get on the phone don't understand "SEX WORK". Make sure you tell them you pay taxes (this should be obvious but believe me just tell them) and register yourself either as an LLC or an SCORP to prevent this. Obviously, there is always still a risk.

My lawyer cleared citibank and said there was nothing in the TOS/Morality clause. As of right now I only took in a few small credit unions and wells fargo & citibank for him to read. It took him 48 hours to read through it all. It's written SUPER weird; EVEN in BOA I would have NEVER found it.

 

[Guy]

Citi bank is sex-worker friendly. Wells Fargo is, too, but they're shady bastards and I wouldn't trust them with my penny jar, let alone my income.

Citi and Wells Fargo, like Chase And Bank of America, are among the banks funding the Dakota Access and Bayou Bridge pipelines. http://www.yesmagazine.org/people-p...s-funding-the-dakota-access-pipeline-20160929
https://public-accountability.org/2...d-the-pipelines-bayou-bridge-pipeline/#table1

 

[TajaEthereal]

hmm I have been using Chase for a year with no issues.. do they really do this??

Chase once sent me an email regarding money I spent on Backpage ads. I was told until I called them to verify my account my funds would be frozen. I immediately called them and had to verbally say Yes it was me who purchased ads called Big Titty Skype Shows. They had already reversed the charges and had investigated what it was for. They had all the info when I called them.

This was during Operation Choke Point and although that was supposedly ended last year, I really dont trust them. At least not with deposits from adult companies. So I no longer use Chase for that.

 

[SMuser69]

hmm I have been using Chase for a year with no issues.. do they really do this??

They also do it to members also. It's not a direct morality clause it's part of their overbearing 'risk assessment' clause. Too many questionable transactions from what they would call questionable sources and they will freeze or dump you. I remember when I became power of attorney for my mom and was just setting up autopays for her nursing home but the company that ran the home changed a few times and each time they would freeze payments or the account because they thought I was paying myself through shell companies instead of just doing any due diligence. They would lock or reissue my debit cards or checking account on a Friday because of a SM payment sometimes even though it was already on my whitelist. Eventually I left from the aggravation but I know a few others that got kicked before that. Had various accounts with them for 20+ years, millions of business between them all and they just let me walk away. I use a smaller bank now and they treat me like a pharaoh walking into the branch because my money matters to them. I regret only discovering the value of smaller banks out of frustration of larger ones. Also joined a credit union which is great but there's a limit to how large an account they can deal with unfortunately, but I wish I had access to one when I was starting out.I can't imagine how much I've given away to fees over the years.

 

[Guy]

They also do it to members also. It's not a direct morality clause it's part of their overbearing 'risk assessment' clause. Too many questionable transactions from what they would call questionable sources and they will freeze or dump you. I remember when I became power of attorney for my mom and was just setting up autopays for her nursing home but the company that ran the home changed a few times and each time they would freeze payments or the account because they thought I was paying myself through shell companies instead of just doing any due diligence. They would lock or reissue my debit cards or checking account on a Friday because of a SM payment sometimes even though it was already on my whitelist. Eventually I left from the aggravation but I know a few others that got kicked before that. Had various accounts with them for 20+ years, millions of business between them all and they just let me walk away. I use a smaller bank now and they treat me like a pharaoh walking into the branch because my money matters to them. I regret only discovering the value of smaller banks out of frustration of larger ones. Also joined a credit union which is great but there's a limit to how large an account they can deal with unfortunately, but I wish I had access to one when I was starting out.I can't imagine how much I've given away to fees over the years.

I have used my Chase debit card many times on Streamate and several times on ManyVids. They have never had an issue with me doing that.