Another OnlyFans Creator Falls Victim to Debanking

So, banks apparently aren’t done discriminating against OnlyFans creators and entrepreneurs. It appears they’ve only just started. Their most recent target? Canadian adult creator Isla Moon, who, in addition to OnlyFans, produces and hosts Reel Rivals, a reality fishing show starring her fellow adult content creators.

Isla Moon’s workforce on Reel Rivals basically equates to a small-to-medium size business. She employs about 60 folks and has put down a staggering $4.5 million (of her money) on the show. Instead of selling her investments to cover the cost of making the show, Moon tried borrowing money she had already invested to make the show happen.

The issue arose when Moon’s financial advisor was asked by the bank what Moon’s profession was. 

“They said, ‘We can’t do anything. We can’t invest your money,’” Moon says. This response is sadly all too common in the adult industry. Everyone from pornstars to producers have been refused service for all kinds of different reasons. Some banks have so-called “morality clauses”, meaning they can refuse to carry a customer’s money, even if their source of income is perfectly legal. If the bank doesn’t agree with it, they don’t have to carry it. In some cases, bank policies or laws in certain states prohibit banks from taking adult industry money. Moon says, “People don’t realize this is a legal business. I pay my taxes, I pay my crew, I pay my invoices, and I fund the production myself.” 

It’s not just banks, either. Mobile payment services like Venmo have also deleted adult creators’ accounts without reason. Codi Vore is an adult performer who says the minute someone used Venmo to pay her for a shoot, it was over. “I have to assume that’s what made them remove me from the platform,” she says. 

As for the culprit, rather than the institutions themselves, Vore blames the law. “The laws in place put too much responsibility on payment processors to prevent illegal activity, so in order to avoid that liability, they ban anyone that they think could be a risk.” 

Adult creators aren’t just shrugging and walking away though, they’re fighting back.

Mia Lee is an adult creator who is also a CPA (Certified Public Accountant). She’s putting her talents to good use through her organization called Floorplay Financial, giving adult industry workers access to financial services without all the judgement. Lee says the financial industry can be confusing to adult creators who don’t have some experience with it (as she does). “Often, individuals divulge unnecessary information and may even trigger more financial trauma when attempting to navigate debanking alone,” Lee explains. Most adult creators are considered independent contractors by the financial community, so Lee says, “Financial literacy is empowerment… Especially for independent contractors.”

A report by Visa studying the financial habits of online creators outlined that roughly 86% of adult creators use their own money to fund their endeavors. About 19% use a debit or credit card, though they apply for these cards as small business owners. Another adult creator, Sarah Arabic (who used to be a financial analyst) takes a different approach. She has a dedicated accountant, she uses a small bank - as opposed to a large national bank - and operates under an LLC. Arabic also uses a separate account containing her personal funds to get herself paid. 

As for Isla Moon, she’s just trying to refocus on Reel Rivals. After being denied the loan by her bank, she had to pay $250,000 using her own assets. She liquified everything from her investments to her retirement account. After paying another $250,000 for a filming location that fell through and being denied a Florida tax credit, it annoyed her, but the show must go on. Moon believes, if she can elevate creators to a more public light, she might be able to destigmatize and get rid of debanking. “Reel Rivals was never about proving that sex workers are intelligent, it was about giving them a chance to be seen beyond the narrow perception of society.”