Chase bank is cracking down on the bank account's of providers and adult entertainers. America's moral police are at it again :-/
A few months back there wasn't a need to have an account with Chase to transfer funds into someone else account. Now it is forbidden unless you have an account with them.. and even if so, they may also delay the transfer as a way to lure you into their bank. So while you sit there trying to straighten this shit out.. here comes the million dollar question. " If I may ask, what is this transaction about "
They made a statement soon the Chase and couple other Banks started with this trend.
They said - in an article - that any adult business is welcome to their bank. Check them out!That's what my accountant told me too. Wells Fargo is the way to go.
t's disgusting.. Back when I used to work as an Independent, I would use GreenDot cards to purchase my ads. Then, one day it stopped working. I received an email telling me to clear out my account with them because they didn't approve of my transactions.
Chase is one of the few banks that is going hard core against accounts pertaining to Adult businesses. They are using the FDIC warning to protect the banking system from money laundering and for financing terrorism but because the adult industry can be a large cash business they fear they could be involved. Chase is doing it on the insistence of the Department of Justice's who is conducting "Operation Choke Point" whereas the government gets banks to close bank accounts of porn stars and porn companies mainly based on "moral reasons". This was started under the Bush administration and continues with the current Administration. Its has been a big issue with the porn industry out here in California.
Chase's Ceo James Dimon makes $9,615 per hour and he does not want "immoral people" at his bank but loves DATY. If it becomes an issue, just move over to Wells Fargo, they will gladly accept you.Are rather dated. Old news.
Big banks are perfectly willing to deal with dirty money if the profits are high enough. They're just not making much of a return on these ladies.
They could not pass screening to see escorts so they decided to take revenge.
bullshit, they will do a soft hold and tell you to get the fuck out in 30 days, don't be numb
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