Adult Business with Banks

Omg I was reading a thread my friend posted and this is so retarded I had no Idea banks could refuse service to you like this!

Read:

HSBC said yesterday that they wouldn't open a business checking account for anyone associated with adult entertainment. HSBC -->

Are there any banks that openly accept adult businesses?

__________________________________________________ ________________

Wow and then following was....

Wells Fargo.

A huge radical right-wing Christian militia group has a PR campaign going right now boycotting Wells Fargo for "promoting homosexual agenda".


__________________________________________________ ________________

I had no idea.. I guess I learn something new everyday!!

This world is a crazy ,, silly place! :notsure:

There are some banks that will, but a bunch won't, and the market of banks is getting smaller--the big banks have been swallowing up the smaller ones for years so there are fewer options out there.

Does that notice from HSBC say anything that might indicate US only?? They have not been in the US market very long but they are frickin' huge globally.

I do know a few banks that will open accounts for adult companies, but I would rather not post their names. The best thing to do is to get the assistance of your processor to open an account.

Excellent topic my dear!

Of course, unless your company name has "penis" in it or something, there's really no reason they ever need know you're an adult company.

I mean, I've got the rap down when the nice 60 year old real estate lady asks what "Media Resource" does... although Kelly, who isn't quite as adept yet, went to get his hair cut and answered the woman who cut his hair by saying he did "artistic modeling" and she said "Oh. Porn? That's cool."

But seriously, I really don't see why the bank ever really needs to know or is likely to find out unless you're using a trade name that makes it obvious... and if you get those checks from Pussycash or ButtMachineCash or AnalBucks, just deposit them through the ATM... the people in the proof department have about 1/8 second per check to look at them, and won't have time to make a stink. Unless the check bounces. :)

chip - i know a bunch of companies and people whose bank accounts were closed due to porn. some bank of americas are very unfriendly to porn, and they closed several large programs, among them silvercash and hawgscash.

i'm surprised to read that about wells fargo because - at least in los angeles - they are the most porn-friendly bank i know of. they took on most of the people i know who lost their b of a accounts, and they took them on knowing what kind of business was being operated.

and chad - i like the idea of asking processors, but i see on my ccbill stubs that they use b of a, and i already know 15 people closed down by b of a due to porrn. so go figure!

Quote:

---

Originally Posted by chadknowslaw

Does that notice from HSBC say anything that might indicate US only?? They have not been in the US market very long but they are frickin' huge globally.

---

I would think this only applies to HSBC USA, Kelly where did you read this? Was it just in someone's blog or was it a real news piece?

cheers,
Luke

Quote:

---

Originally Posted by basschick

chip - i know a bunch of companies and people whose bank accounts were closed due to porn. some bank of americas are very unfriendly to porn, and they closed several large programs, among them silvercash and hawgscash.

---

I've heard that about BofA several times... and I also know of someone who is processing a ton of physical product (gay adult DVDs) through BofA with their full knowledge... sounds like it's either totally inconsistent, or else some people are sliding it through.

Do you have any idea how the bank figures out what's happening in these cases? Perhaps we should look elsewhere, as we are with BofA and it would suck for them to suddenly close our accounts ...

Before I got into this business I worked in banking for many years! When I was in banking, there was nothing written in policy regarding "porn" companies.

We were told to be careful to open accounts for 3rd party companies (Such as cash checking companies) and don't get involved with churches or places of worship. We were told not to open accounts for companies that deal with large amounts of cash and when I was still working in the bank during 911 a newer policy was written not to open accounts from people from Iraq and or Iran, Cuba and China. The rules change for foriegn individuals trying to open an account but never once did anyone say not to open an account from "porn companies".

I think that perhaps companies that have some kind of sexual words in the name might have offended some of the people working in certain bank branches, then showed the account to the branch manager and the branch manager decided to close the specific accounts down. I think the decision is made by the manager of the branch and not by the higher corporate heads. If you have a good account, your a good account holder, you have established business with the bank, the bank will not close your account unless your a bad account holder and you bounce checks and you are consistantly overdrawn, the bank will close down your account regardless who you are are what you do.

Being in banking for many years, the best think to do is to establish a great relationship with your bank branch. Get to know the manager and the tellers and the customer service people. During the holidays...buy the branch lunch or send the branch a box of cookies...do something so they know who you are and always be polite. I have worked in many bank branches and most of the customers that come into the bank or nasty rude and evil people, when it comes to money, people get very wierd. People who owned there own business were always the worse and the most rudest people. The polite and cool customers always got treated well and were respected by everyone in the branch...it only takes a few moments to smile and say hello's and to establish a great relationship with your bank branch and to win the trust of the bank manager and the staff. If the staff is rude and the manager is rude and unfriendly, then go to another bank or another branch that has a much more positive energy and friendly atomsphere.

Also...stick with community/smaller banks...they maybe smaller but they want your business and they offer you better customer service.

Have a happy holiday!!!