Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
OnlyFans creators being refused by banks
Reading Time: 3 minutesOnlyFans creators being refused by banks
Have you ever considered the prospect of a bank refusing to let you put money into your account? You earn the cash, then it is either rejected or removed from your account. Well, it’s becoming an increasing risk that banks and building societies will prevent you from using their services if you earn money in certain ways.
OnlyFans is an online content platform, where creators can show their work, or offer exclusive content to subscribers. Although it is used by many to host a variety of content, such as fitness classes, cookery courses and more, it is used by many who offer adult content in exchange for a monthly subscription.
Recently, reports have shown that many OnlyFans creators have struggled to find a bank to house their earnings from the platform. With top earners reaching eye-watering sums of up to 17.7 million per month, the demand for the platform is growing. It is now regarded as a serious way for people to make money.
However, due to the sensitive nature and reputation of OnlyFans, many creators are finding it increasingly difficult to put money to their bank, and transfer from the platform to their personal accounts.
Suits Me®
Suits Me® is a new pioneering alternative to banking, which is more inclusive. It creates more opportunities for customers when it comes to earning money. Recently, a desperate mum shares she had to turn to friends and family to borrow money to feed her family, after vast sums of money she’d earned from OnlyFans disappeared from her account.
This is becoming a more regular occurrence. More and more influential figures and top earners on OnlyFans, are having their subscription earnings refused by “regular” banks. This makes a banking solution such as Suits Me® more crucial than ever.
Although OnlyFans does have a reputation for being used by workers in the “sex industry” it is also a platform heavily populated by fitness enthusiasts, personal trainers, and musicians. Many of these content creators are struggling to release their earnings into a tangible bank account. The founder of the 1 billion dollar a year platform wants to emphasise this and diversify the platform further, which could in turn mean even more demand for a Suits Me® account.
How does it work?
Suits Me® offer an e-money account accompanied by a modernised mobile app and contactless Mastercard® debit card is on hand to relieve any complications for OnlyFans creators.
If OnlyFans users are struggling to open an account, they needn’t worry. Thanks to the site’s association with adult content and services, many providers are now flagging and closing accounts associated with OnlyFans. However, there are still some providers out there that are willing to work with OnlyFans users. So, if they’re having trouble finding the right account Suits Me are encouraging them research in to opening an account as soon as possible.
Features
It takes just minutes to apply, so users can have their account up and running in no time. Suits Me is one of the few financial institutions supporting such sectors that Onlyfans is a part of. But not only that, let’s look at the different reasons why Suits Me® is an account you want to consider.
The account features a contactless Mastercard, making paying for purchases quick and easy. In addition, you can use your Suits Me® account to send and receive payments and make international transfers via their mobile app. If that wasn’t enough, they also offer exclusive cashback rewards and partner deals when you use your account.
What Jasmine says
“Banks need to put their political and personal views aside when enabling businesses and individuals to leave their money with them. Recently there have been disturbing instances of financial houses discriminating against organisations and individuals because they didn’t like their politics. PayPal closed the accounts of the Free Speech Union and Us for Them. Wise closed the account of an anti-abortion charity. Santander closed the accounts of two individuals who held far right views.
“Whether one likes someone’s politics or activities or not, so long as it is not illegal, there should be no reason for a bank or building society to refuse to deal with them. After all, these financial institutions give accounts to murderers, rapists and people who have committed all sorts of crimes, so cancelling legitimate organisations doesn’t make sense.
“Fads and fashions come and go. Now, it’s deemed fashionable to have a left-wing view. Later it will swing to the right, so those who cancel organisations now that they consider to be right-wing, or unethical, may find that later their own cherished views will get them into trouble. We must lay down now the principle that banking is for all ,and politics should not impinge on the rights of individuals and organisations to have access to banking products.”
Suits me do not have IBAN, onlyfans require an IBAN, Been on the phone to both.There is no workaround , I just wasted a lot of time opening an account to close it down. Im in UK
I like Suits Me but they dont cater to those in the US. Do you have any recommendations for US banks/cards?
100 per cent right Jasmine. This is the thin end of the wedge and social credit system territory