Turned down for bank account for adult content production & website

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Scotlass84

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Apr 5, 2019
4
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I am the Director of a limited company that produces adult content which will be sold via 3rd party sites as well as via our own personal site. At the moment I am the only registered member of the company as despite the business being their idea my business partner doesnt want to be linked to it at the moment (has another non adult business and doesn't want customers of that finding out about the adult one).

I am really struggling to find a bank that will give us an account (not looking for any credit, just a basic account). Bank of Scotland turned me down as my credit score is quite low, Natwest turned me down as they don't work with the adult industry (you know the legal industry) and Santander I think were for the same reason as Natwest but their emal wasnt quite clear on the reason.

We really need an account for the company but I am clueless with who else to try.

Help
 
Jun 26, 2017
2,654
951
Tide, Revolut, any of the modern challenger "banks" will not be turning away custom right now. You don't have the same kind of protections, but it would be a good start.
 
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Have you tried Barclays? They have approved bank accounts (and merchant accounts) for clients of ours in the adult sector.
 
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How about getting a travel card or virtual bank account such as Cashplus. You get a sort code and account number as with a regular bank account but usually don't have any credit checks.
 
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ExoPaul

Free Member
May 26, 2018
91
35
Worked within adult business for 20+ years and I can tell you that virtually no "high street bank" will accept you for an adult business. Low credit makes it even more impossible for you.

If you need to be able to receive payments maybe NoChex might be best as they are an adult merchant account and you can take funds through them, and then transfer the money to a regular bank account.

Another one that webcam sites and dating sites use to accept payments is Verotel. They are apparently very good but a bit pricey to get set up.

Another one I have not personally any experience off but is a couple of years old and works for the industry is pay4 . xxx which can take payments, and is geared up for the adult and escort industry.

If you are expecting to be able to have a good, well known and professional high street bank for an adult business you are sadly going to be disappointed, and even if you find one that you can get to accept you, the chances are (as I have witnessed with clients), they review you after 6 months and shut you down for the smallest of reason to avoid any accountability.

And hence, why you need to work out what your needs are and see whether any of the above companies are able to tick a lot of those needs, and whether you can then transfer the funds from them to a regular business account for the additional needs.

Finally, I am not sure whether they would accept adult sales, but the new app "Coconut" is a banking app for new startups that handle all the payments, accounting and so on for you, but does have a limit of £40,000 balance limit at any time last I checked. If they allow your content then you are likely to find they will set you up without much of a credit check within 24 hours.

Feel free to PM me if you would like to network.
 
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Jun 26, 2017
2,654
951
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Karimbo

Free Member
Nov 5, 2011
2,090
215
Answers from the saintly amongst us here !

Open company, selling "stuff", tell Bank what bank wants to hear, then do what you want.

Im really surprised youre the only one advising this.

I would have thought this would be obvious, just open an business account, be as vague as possible. Digital media producer, online magazine, video streaming site could have been one of the many ways to describe your business.

OP should have done their homework and checked if it was acceptable before applying. Unfortunately the cat is out the bag right now.

Then use a third party payment processor, completely unconnected to your bank to handle online card payments.

Most adult sites will have geneeic business names, will have innocuous sounding business names so they look innocent on customers bank statements.

They have various reasons for doing this. Some bank staff might have issues dealing with a customer in the porn sector snd could sue the bank for sexual harrassment for "deliberately" handing them this account. Some staff have religious views against porn etc.
 
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John from TAPMIO

Free Member
Mar 11, 2020
14
0
Newcastle
Hi if you are still struggling with processing, feel free to drop me a message as an APM we have a solution for all , many thanks
 
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