I don't like where this is leading.........
 

Citibank Closes Accounts Associated with Adult.
http://www.avnonline.com/index.php?P...tent_ID=254720

Well, that's genuinely disturbing.

I find its best to just tell your bank you do Web development or some such. Very few sponsors put the name of their program/sites on checks anymore, so the bank has no way of knowing ... and in all seriousness they probably don't want to know.

You're going to see more of that in the coming months. 3 months ago new bankrupcy laws went into effect to protect credit cards. January minimum payments tripled.

To get this type of legislation passed you have to make some big promises.

Yeah, this poses a huge problem.
I just opened an account there and they asked me all sorts of questions about what I do and the website URL. (Which they couldn't get to because it was blocked and said "Blacked due to adult content.)

It's just a static page with a non-descript logo.

Not cool at all.

I don't either. Much of the banking (finance) industry has a copycat mentality as well. :( I wouldn't be surprised to see others do this soon.

It is very much outragious. But if that is their attitude and they don't want your money...fuck 'em.

Three words. Coffee+cans+backyard. No interest gained, but no red tape either.

The bank president would have to have a crucifix up his ass to close Impulse's accounts. That's not exactly like sweeping peanuts out the door.

I agree, but I doubt he would have gone anywhere near doing it without corporate approval, especially in the porn capital of the world. My guess is they'll be trying to push adult businesses to the smaller banks (which they probably own too) so that they can screw us a little harder. Pure speculation on that :)

Yes that is scary.

Dr Bizzaro, I recently opened an account at a new bank and incorporated a business without a business name just a numbered company. We can write checks and everything using that numbered company name so no worries about reporting a web site and/or url. I will set something up though that looks legite somehow and soon.

There are a few sponsors that pay via checks cut from a Citibank location (WEG Cash comes to mind) so this should be interesting.

I use ICRA labels on all my servers so I think I might have to get a new hosting account somewhere just so I can have a couple of domains without labels.

I'm with BOA and I just say that I do web development. I even keep a one page non adult website for business purposes. My account is pretty amused with me. Especially after I fixed Angel up with him.

Internet Marketing is always my story for the banks :) I was moving to Bank of America but, I am now thinking of sticking with my crappy little bank that has I think 10 branches.

We are with BoA as well, but we have been there for almost 4 years I think and was never asked a URL or anything, I think we said web development/consulting/marketing, but it's been so long I hardly remember to be honest.

We are with a local bank who knows everything and are super cool with it...hell they even log into Brandi's cam shows once in a while and chat it up LOL!

This is a disturbing development though...especially since our corporate Visa is through Citibank. I love our country but we have some things pretty jacked up! Uh oh..better move on I feel a rant building up!

That is indeed pretty messed up

I had a similar problem to that with my old bank (TD) here in Canada with my mainstream business once they froze my bank account on "suspicious activity" when I sold one of my business' for 2K (not a lot of money IMHO to justify "suspicious activity".)

They knew I had an internet business, refused to see it as "viable income" but had no problem taking that money and applying it to my loan and mortgage payments ... they were also quite shocked when I told them I was taking all my personal and business banking elsewhere, as they refused to supply me with a merchant account. I think if I spend a few hundred K in your bank, you best be giving me a merchant acct, esp when 90% of those debts are paid off and the reason why they are 90% paid off is because of my internet business'.

Do yourself a favor and find a small nice bank that will cater to your needs and value your business, I have found a good provincial bank and now couldn't be more pleased with their services and they know everything I do online.

I couldn't agree more |thumb

It's nice to walk in where everyone knows your name what you do and jump at the chance to help you :)

Jade - you found a Canadian bank that would give you a merchant account? I thought this was impossible now so it's great to hear there are some options. Is it a credit union?

the smart thing to do is keep 2 or 3 accounts for your buisness at different banks

I think this happened to ars or some other big program a few years back

I agree that's what I do. I use the small bank for my operating expenses and two larger banks for CD's, Bonds, etc.

Yeah it's a credit union, but they will only accept mainstream and it's only for one card, so still have an american merchant account, but at least it's a start, hopefully more banks will start to open their eyes!

my bank only allows me to do tangible products ... i can pay 1500 annually to accept visa and MC but I choose to keep it only for DVD sales and use CCBill for the tracking and soon to be affliate program... I am sure i will need to upgrade to another processor and traffic software for affliates once we reach that plato... good luck with the new system Far-L

As Jade mentioned about the TD, its pretty tough...I'm currently with the TD as well and I won't be able to get a business account or even a credit card until I've at least been in full time business making a ton of $$$ for like 3 years at least; and even with that you have to walk in with all your accounting books....I've actually been doing business under my personal account. Sure I bring checks in for deposit and stuff like ccbill and others. They don't know what I do nor is it really their business (of course I still have to pay taxes). My account just shows I do "web design" -- which I do actually.

I was thinking this very same thing.

For me the accounts I have now at a small local bank, just about every aspect from service to less fees to they all know my name when I walk in, is far far better than any experience I have ever had at a larger bank.

They do ask what I do for a living and I say internet marketing and that usually is good enough. Though on occassion one of the tellers will ask me if Im the guy that sends all the spam lol.

A friend of mine is just getting his in the construction industry after about 20 years, and $1 million a year.

I just slip the checks in with my normal business deposits, and most of my consulting checks are from a Bermuda bank in $CDN.

I was thinking about stuffing mattresses, but somewhere you got to cash those huge checks of yours.

The main thing that disturbs me is that they are practising outright discrimination against a legitimate business. So what's next on their list of don't likes ~~~ Catholics. Gays, Blacks, Women?