Turned down for bank account for adult content production & website

Discussion in 'Ecommerce Forum' started by Scotlass84, Apr 5, 2019.

  1. Scotlass84

    Scotlass84 UKBF Newcomer Free Member

    4 0
    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
     
    Posted: Apr 5, 2019 By: Scotlass84 Member since: Apr 5, 2019
    #1
  2. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

    2,480 849
    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.
     
    Posted: Apr 5, 2019 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #2
  3. Scotlass84

    Scotlass84 UKBF Newcomer Free Member

    4 0
    Thanks, will speak to my business partner and see what he thinks about those
     
    Posted: Apr 5, 2019 By: Scotlass84 Member since: Apr 5, 2019
    #3
  4. Leigheff

    Leigheff UKBF Newcomer Free Member

    2 0
    Hiya
    I am having the same issue... did you manage to get an account?
     
    Posted: Sep 28, 2019 By: Leigheff Member since: Sep 28, 2019
    #4
  5. Scotlass84

    Scotlass84 UKBF Newcomer Free Member

    4 0
    So far no, not even the the likes of Tide or Revolut will give one.
     
    Posted: Sep 28, 2019 By: Scotlass84 Member since: Apr 5, 2019
    #5
  6. busowner987

    busowner987 UKBF Regular Free Member

    204 12
    and the likes of Tide is not a 'proper' account. You wont be able to use it like you would a normal account.
     
    Posted: Sep 28, 2019 By: busowner987 Member since: Aug 27, 2019
    #6
  7. Clinton

    Clinton UKBF Legend Full Member

    5,012 2,173
    I'll send you a PM with a suggestion on how you can get around the problem of a bank account for businesses in the adult entertainment industry.
     
    Posted: Sep 28, 2019 By: Clinton Member since: Jan 17, 2010
    #7
  8. michael724

    michael724 UKBF Newcomer Free Member

    1 0
    Hi clinton

    Can you also send me a pm on how to do the same please
     
    Posted: Dec 12, 2019 By: michael724 Member since: Dec 12, 2019
    #8
  9. TotalWebSolutions

    TotalWebSolutions UKBF Ace Full Member - Verified Business

    2,624 617
    Have you tried Barclays? They have approved bank accounts (and merchant accounts) for clients of ours in the adult sector.
     
    Posted: Dec 12, 2019 By: TotalWebSolutions Member since: Sep 29, 2009
    #9
  10. Scotlass84

    Scotlass84 UKBF Newcomer Free Member

    4 0
    Hi, I'm sure they are one of the ones I tried.
     
    Posted: Dec 12, 2019 By: Scotlass84 Member since: Apr 5, 2019
    #10
  11. Talay

    Talay UKBF Big Shot Free Member

    3,853 805
    Answers from the saintly amongst us here !

    Open company, selling "stuff", tell Bank what bank wants to hear, then do what you want.
     
    Posted: Dec 23, 2019 By: Talay Member since: Mar 12, 2012
    #11
  12. Ecommerce-Help

    Ecommerce-Help UKBF Contributor Free Member

    42 5
    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.
     
    Posted: Jan 8, 2020 By: Ecommerce-Help Member since: Jan 7, 2020
    #12
  13. paulears

    paulears UKBF Big Shot Full Member

    4,480 1,180
    You can't even play the Nation Lottery from a Santander Business account!
     
    Posted: Jan 8, 2020 By: paulears Member since: Jan 7, 2015
    #13
  14. Alison Moore

    Alison Moore UKBF Enthusiast Full Member

    552 97
    People I know have used cashplus before, although cashplus are applying to be a 'proper' bank so that might have some impact on their application process. You don't have to pass credit checks with them, so I doubt they would mind which business sector you're in. Might be worth a go.
     
    Posted: Jan 8, 2020 By: Alison Moore Member since: Aug 4, 2016
    #14
  15. Ecommerce-Help

    Ecommerce-Help UKBF Contributor Free Member

    42 5
    I saw they were applying to become a proper bank. There are others such as Pockit, goHenry and Suits Me to look at.
     
    Posted: Jan 8, 2020 By: Ecommerce-Help Member since: Jan 7, 2020
    #15
  16. ExoPaul

    ExoPaul UKBF Contributor Free Member

    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.
     
    Posted: Jan 8, 2020 By: ExoPaul Member since: May 26, 2018
    #16
  17. Ecommerce-Help

    Ecommerce-Help UKBF Contributor Free Member

    42 5
    How about Bitcoin? Opencart can work with that with the appropriate extension.
     
    Posted: Jan 8, 2020 By: Ecommerce-Help Member since: Jan 7, 2020
    #17
  18. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

    2,480 849
    Probably....but unfortunately Bitcoin is garbage.
     
    Posted: Jan 8, 2020 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #18
  19. Karimbo

    Karimbo UKBF Ace Free Member

    1,995 205
    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.
     
    Last edited: Feb 17, 2020
    Posted: Feb 17, 2020 By: Karimbo Member since: Nov 5, 2011
    #19
  20. John from TAPMIO

    John from TAPMIO UKBF Newcomer Full Member

    12 0
    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
     
    Posted: Mar 12, 2020 By: John from TAPMIO Member since: Mar 11, 2020
    #20