OnlyFans-friendly banking in the US

Despite the platform’s popularity and legitimacy, Creators who make their living on OnlyFans often run into trouble when it comes to banking.

A lot of traditional banks are reluctant to handle accounts linked to adult content, which means it can be difficult to get paid. 

In fact, OnlyFans CEO and founder Tim Stokely, said that the Bank of New York Mellon rejected every wire associated with the company, adding that Metro Bank and JPMorgan Chase have both been “aggressive in their stance against OnlyFans and creators of adult content.”

This leaves Creators in a tough spot, struggling to safely handle their money and grow their business.

Luckily, a few banks in the US are stepping up, offering services designed specifically for Creators.  

This article dives into these OnlyFans-friendly banks, offering you options for handling your finances in the US.

Why do banks deny or freeze OnlyFans Creators’ accounts?

Here are some of the possible reasons why banks don’t support accounts from OnlyFans Creators:

• Conservative banking policies: There's often a conflict between the nature of OnlyFans and traditional banking norms. For example, while sex work remains largely illegal in the US, except in parts of Nevada, it's regulated and taxed in many European countries. Banks are cautious about supporting creators who earn money from such platforms, fearing they might inadvertently be supporting illegal activities.

• Pressure from payment processors and regulators: Payment giants like Visa and Mastercard have their own strict guidelines about the types of businesses they'll support. They often shy away from handling funds linked to the adult content industry. Federal and state regulatory agencies also influence banking decisions by enforcing strict laws related to financial transactions and online content. 

OnlyFans friendly banking in the USA

To steer clear of banking headaches, consider exploring the following banks that offer supportive policies for OnlyFans creators:

Yoursafe

Yoursafe is a newer player specifically catering to the needs of digital and adult content creators.

They offer accounts with features like immediate access to funds, high privacy standards, and minimal transaction restrictions, making them a solid choice for OnlyFans Creators who prioritize discretion and ease of access to their earnings.

• Secures your identity so you can avoid sharing your true name and location

• Offers a Visa debit card connected to your account

• Particularly friendly to spicy Creators

Nbkc Bank

Nbkc Bank offers a straightforward, no-frills banking experience with no hidden fees and a simple fee structure, which is great for OnlyFans creators looking to avoid complicated financial setups.

Their friendly approach to non-traditional businesses makes them a reliable option for content creators.

• Business bank accounts with no monthly fees

• No minimum balance requirements

• Fee online banking.

• Clients report a customer-centric approach and attractive fees.

Bank of America

As one of the largest banks in the US, Bank of America has a variety of banking products that can suit OnlyFans creators, from business accounts to credit solutions.

However, creators should be aware that as a large institution, their policies may not be as flexible as some of the newer digital banks.

• Solid reputation as a major banking institution in the US

• Good for Creators who want to work with a traditional bank

• Lots of banking options for checking, saving, and credit

Grasshopper

Grasshopper, a digital bank focused on small businesses and freelancers, offers services that can be highly beneficial to OnlyFans creators, such as easy online banking, mobile deposits, and small business loans.

They are known for supporting entrepreneurs and independent contractors in the digital space.

• Good business banking solutions used for small businesses and freelancers.

• Offers invoicing and expense tracking.

• Known for its user-friendly platform and customer support.

• Dedicated to small businesses and freelancers, including OnlyFans creators and adult entertainment industry workers.

Lili Business Checking

Lili is designed for freelancers and independent contractors, making it a great choice for OnlyFans creators.

Their business checking account includes features like tax tools, no account fees, and mobile banking, helping creators manage their finances more efficiently.

• Notifications for all account activities to keep track of finances easily.

• Automatic categorization of expenses which can be very handy during tax season.

• Option to create designated sub-accounts for savings goals, such as tax savings or equipment funds.

Revolut

Revolut offers a modern approach to banking with its app-based platform that includes budgeting tools, instant payment notifications, and currency exchange.

For OnlyFans creators who deal with international payments, Revolut's ability to handle multiple currencies can be particularly advantageous.

• Offers the ability to buy, sell, and hold cryptocurrencies directly within the app.

• Includes built-in security features

• Access to perks like discounted subscriptions for services and cashback offers on certain purchases

Wise

Formerly known as TransferWise, Wise is ideal for OnlyFans creators who need to manage earnings in different currencies.

It allows users to hold and convert money in multiple currencies at a low cost, making it easier to receive payments from subscribers around the world.

• Clear, upfront pricing on conversions and transactions, which can help avoid any unexpected costs

• Ability to hold multiple currencies and switch between them easily

• Offers a debit card that can be used worldwide, drawing from the currency in your account to minimize exchange fees

OnlyFans-friendly banking options

Finding the right banking partner as an OnlyFans Creator might be tricky, but once you find your perfect fit, managing your finances can be completely seamless.

When deciding on the right for your business, do your esearch and make sure their policies align with what you need.

Consider factors like fees, account types, reputation, and eligibility requirements, so you can make a well-informed decision.

Remember to weigh the pros and cons of each bank and select the best one, which supports your financial goals and facilitates your business safely.