Good advice to your clients and all in the porn industry, this cannot be over emphasized.

I read Josh's statement on AVN. He does not have to deposit any adult checks into his personal account, he is listed with the Secretary of State as a managing member of Skinworxxx, LLC.

All this reminds me of an urban legend during the mail order days. There was a guy that would place classified ads selling porn videos. He would make the offer virtually irresistible so that you were compelled to make a purchase. After your check cleared, he would send you back a check for a full refund and a letter stating that the product was no longer available. The problem for the customer was that the company name on the check was "Anal Sex Lover's Society". No one would deposit or cash their refund check.

:1orglaugh

All banks have policies about what businesses they will be associated with. It's been this way forever. They have all be randomly shutting down affiliates bank accounts since day one. They are publicly traded companies that have to answer to shareholders. If you don't like the rules of the bank you do business with, then open your own bank.

US banks can fuck themselves and the high horse they rode in on.

Chase shut me down for being involved in adult a few years back. At that time they had just bought Washington Mutual and I also had accounts there so they closed those too. It was a real pain in the ass because I was in Asia at the time and they gave me very little time to move my funds, and they had already shut off my ability to send wires via the online admin. It was a mess, but I got it sorted out eventually with the help of a creative friend.

5/3 Bank did the same thing before Chase. Left me hanging with zero notice while I was out of the country again, with only their ATM for funds. You can imagine the hell that was. I'm surprised I wasn't arrested when I got back and went to the local branch. I flipped effing out on the branch manager who I had been dealing with for almost a decade.

I've always been discreet with bank accounts and names, but once they caught wind, however they figured it out, it was over and accounts were closed.

Considering some of the pieces of shit who are at the top of this industry can you blame them? We all get a bad rep from it. Keep banging those cards, associating with money laundering operations and showing illegal content on your tubes. Not to mention some of the companies (cough, cough) who have associations with the old file lockers who were pirating mainstream content too.

Then again maybe they know something? Maybe a giant scumbag is about to be taken down and they want to distance themselves from it? Can't blame them.

Just saying, this is not US only. Partner of mine had a Cyprus bank. They googled some company names of in/out wires, and when it came out cam sites, bank wrote letter to go away within 30 days. That was good since Cyprus bank collapsed and stole money in accounts shortly after :)

20k in an account. 20000000000000K in an account.

Not hard math on which they prefer.

Take off your purple pimp hat and just tell your bank your a marketing company.

that really sucks.we have been in the same situation as well

I'm certain Chase wouldn't close any accounts for the large hotel chains or cable companies that make money from porn PPV or mainstream retailers like Walmart, Amazon, CVS, Target and Sears that sell sex toys. What a bunch of fucking hypocrites.

Well Im starting to hear that Chase is doing this at the request of DOJ as a part of Operation Choke Point or Hold...

Google either for more info... Here's one story from some US patriot site...

http://freepatriot.org/2014/01/10/er...s-abuse-power/

their money is as green as everyone else's, stupid

Well dang. I'M a porn star and Chase hasn't banned me!

I'm offended.

Actually, ALL deposits whether they be personal or business, small or large are held in reserve and the money is loaned back out to the depositor (yes they actually loan your money back to you, your check and/or debit card is a loan) and borrowers on a fractional reserve basis. So even though you might think the bank isn't making any money off your account the reality is they can make loans on those deposits 10+x what they have in reserves and earn interest on that multiplied amount.

In addition smaller checking accounts are likely more profitable than larger because those are the ones who get hit with NFS fee's and the likes. Which if you asked any banker is what pays most of the bills. Especially that big ass building they just bought downtown on a fractional reserve basis.

Note the detail below about specific type of webcam performer payments being flagged. Yeah I know it's TMZ but... it's relevant

"Our sources say banks are tracking specific types of transactions -- such as deposits from webcam work -- and are flagging them as "irregular activity" because they're paid out so sporadically (on a minute-by-minute basis)."

Layton Benton account closed by Chase

Now that I remember, not only happened with Cyprus banks, but even The Netherland's ING Bank done the same. You would expect dutch banks are liberal, but, ING bank a few years ago kicked out everyone adult merchant (included livejasmin) who had to move to ABN Amro (where we also got account). So what's so strange with an US bank when that's happening in the country of legal red light district?

lol do cam girls really get deposits on a min to min basis as people spend credits?

If the government is willing to tax adult income, banks should be forced to provide banking services to those in adult...

Bingo, fucking bingo.

I am actually surprised they even gave them any notice and time to handle finding new accounts. That is actually more polite than 99% of the other banks out there would be in the same scenario.

A press release from the National Archives and Records Administration (NARA) in 2004 announced that many of the new Federal Bureau of Investigation (FBI) files had become declassified. This declassification enabled the discovery that before and during the early years of World War II, the German government sold a special kind of Reichsmark, known as Rückwanderer [returnee] Marks, to American citizens of German descent. Chase National Bank, along with other businesses, were involved in these transactions. Through Chase, this allowed Nazi sympathizers to purchase Marks with dollars at a discounted rate. Specifically, "The financial houses understood that the German government paid the commissions (to its agents, including Chase) through the sale of discounted, blocked Marks that came mainly from Jews who had fled Germany." In other words, Nazi Germany was able to offer these Marks below face-value because they had been stolen from Émigrés fleeing the Nazi regime. Between 1936 and 1941, the Nazis amassed over $20 million, and the businesses enabling these transactions earned $1.2 million in commissions. Of these commissions, over $500,000 went to Chase National Bank and its subagents.

These facts were discovered when the FBI began its investigation in October 1940. The purpose of the investigation was to follow German-Americans who had bought the Marks. However, Chase National Bank’s executives were never federally prosecuted because Chase's lead attorney threatened to reveal FBI, Army, and Navy "sources and methods" in court. Publicly naming the sources and methods could have posed security risks and threatened future intelligence gathering. To avoid such revelations, the executives' violations of the Johnson Act, the Espionage Act, and the Foreign Agents Registration Act were never prosecuted.

Release of Funds for Nazi Germany During WWII
Besides the controversial Rückwanderer Mark Scheme, NARA records also revealed another controversy during the occupation of France by the Nazis. From the late 1930s until June 14, 1941, when President Franklin D. Roosevelt (FDR) issued an Executive Order freezing German assets, Chase National Bank worked with the Nazi government. The order blocking any access to French accounts in the U.S. by anyone, but especially by the Nazis was issued by Secretary of the Treasury, Henry Morgenthau Jr., with the approval of FDR. Unfortunately, within hours of the order, Chase unblocked the accounts and the funds were transferred through South America to Nazi Germany.
http://en.wikipedia.org/wiki/Chase_(bank)

Why not promote "American Porn companies boycott Chase bank because of non America actions"

Did you get deported out of the US or something? Your constant and incessant US bashing is getting old. We get it, you hate US. Move on LOL