MONTREAL – Early this week, JPMorgan Chase, one of the largest banks in the U.S., began notifying adult entertainment performers it would be closing their accounts based on moral objections to the performers’ occupation.
A form letter sent to dozens of performers including Teagan Presley, Dakota Sky, Stormy Daniels and Bonnie Rotten, plus studios including Skinworxxx and Rockstar, noted the bank will close their personal accounts May 11 and their business accounts in June. In both cases, the closures ostensibly are to prevent losses associated with high-risk accounts.
“We recently reviewed your account and determined that we will be closing it on May 11, 2014,” a typical letter to the performers and companies affected stated. “Please accept our apologies for the inconvenience.
“You may close your account before the date we’ve provided. Your account agreement says that either of us may close your account at any time without notice and without a reason.
“We will mail you a check for the remaining balance 10 days after it is closed,” the letter concluded.
Producer-director Joshua, who is married to Presley and owns Skinworxxx and Rockstar, told AVN, “I called them, and they had no problem saying it’s because of the business we’re in, and when I asked why my account had been closed — because I’ve never once, ever, deposited an adult check into my personal account, ever — they came back and said it was because I was married to an ‘infamous’ was the word they used ‘adult star.’”
Alternative payment services provider Paxum has stepped in to offer victims of the surprise account closures an opportunity to sign up for Paxum services at no charge. Performers who qualify also will receive a free Paxum payroll card.
“We disagree with this kind of abuse,” Paxum Business Development Manager Ruth Blair said. “At Paxum, we welcome adult performers of all kinds.”
While not a bank, Paxum is a global e-wallet money services business that enables all verified clients to send and receive instant payments. Funds are available for withdrawal instantly at ATMs worldwide.
A multiple-award-winning company, Paxum is popular with adult industry professionals. The firm’s services are employed by large companies including MindGeek (formerly Manwin), Gamma Entertainment, Vivid and Playboy, according to Blair.
“Performers should not be forced to suffer penalties and financial difficulties purely as a result of their career choice,” she said. “We invite all adult performers who have suffered account closures at the hands of Chase Bank to sign up with Paxum and use our services completely hassle-free. We’ll also pay for your [debit] card.
“We can help you get paid, without fear, prejudice or abuse,” she added.
To learn more about Paxum and its services, visit Paxum.com or contact the company via email.
