For many performers in the cammodel industry the past two months have been very stressful, due to a major banking source for adult payments were forced to liquidate their entire business. On April 9th, Choice Bank Ltd. announced to account holders that they had been forced into a “liquidity-constrained position” and were eliminating all withdrawals from deposit accounts and other outbound payment activities. This sudden announcement sent the entire adult industry into a panic causing a major headache for performers, affiliates, camsites, clipsites big and small. Some businesses were able to recover in a reasonable amount of time while others closed up shop and decided to not to payout funds to the cammodels who used their platform. YouKandy, YouSo Wrong For That One.
“The liquidity challenges the bank currently faces is truly a short-term one. As it progresses through this process, the bank is confident that all its depositors, cardholders and creditors will be kept whole,” Even that statement from First Choice promising it’s business partners that they were confident they’d be able to assure all funds owed would be paid out, it’s two months later and many are still in limbo including Boleyn Models.
What we’ve started to realize after the dust has settled somewhat is that businesses who use third party banking services as a means to facilitate cammodel payments, may need to start offering more options. Here in the Boleyn Models daily pay program we’re still able to payout performers with several different options, but we suggest that if possible cammers look into getting a certified ACH banking account to enable direct deposit. We also have Paxum for those who still prefer using third party debit cards but this option isn’t currently available for performers everywhere. Even the United States has been left off of the list.
Current Cammodel Payment Options For Boleyn Models Are:
- Paxum
- Direct Deposit
- CosmoPay
- Blockchain for international payments
https://soundcloud.com/shitguyssaytocamgirls/summer-payming-issues-and-banking-tips-for-cammodels
Although we do recommend that most models set up a banking account when possible, it’s best you do your research when deciding on which bank to use. Some institutions have clauses written into their term of service stating that they can terminate your account holding all funds at any given moment. I would not recommend Chase Bank or Bank Of America. They were the two biggest participants who proudly shut down the bank accounts of many adult performers during Operation Choke Point. With new laws currently coming into effect I believe we are entering round two. The department of justice brought an end to Operation Choke Point in 2017, but who’s to say that banks aren’t still upholding their discriminatory polices?
Background Information
Operation Choke Point was a 2013 initiative of the United States Department of Justice, which would investigate banks in the United States and the business they do with firearm dealers, payday lenders, and other companies believed to be at higher risk for fraud and money laundering.
During that time many adult performers were grouped in as high risk and lost their bank accounts as a result. Chase Bank was one institution notorious for closing bank accounts. So if you have Chase account I would not send adult payments to them. I think Bank Of America was another one? I don’t think sex workers were the intended target for Operation Choke Point, but we definitely felt the pinch. It was mostly created to go after firearms and payday loans. I had an instance where my bank questioned me on the phone about a few ads I placed with my own money! Imagine having to explain why you placed an ad titled “Big Titty Skype Shows With Sloppy BJ’s, Come Get It!!” over the phone…for free.
I would suggest that models who need a direct deposit account look into getting prepaid debit cards to receive their cammodel payments before transferring into a major banking account. Take a listen to our latest podcast episode 12 of the #ShitGuysSayToCamgirls with @Naomi_Court & TajaEthereal to learn more information on which prepaid cards work the best.
https://soundcloud.com/shitguyssaytocamgirls/summer-payming-issues-and-banking-tips-for-cammodels
