Tim Stokely, Founder and Chief Executive of OnlyFans, has name checked ‘unfair’ banks in an explanation of the site’s upcoming pornography ban.
Last Thursday, OnlyFans, the site famed for its pornographic content, issued a statement announcing that the platform would ban sexually explicit content from October. Under the new rules any nude content posted on the website will have to comply with OnlyFans guidelines.
The popular subscription site, which provides many sex workers with a relatively safe way to interact with customers and get paid for content, has faced backlash from creators and users alike over the ban.
Following the announcement several sex workers told PA news agency they would leave the site and said the platform would likely shut down without sexually explicit content.
Stokely announced that the change in policy follows a crackdown from banks. In an interview with the Financial Times he explained the policy change saying “we had no choice — the short answer is banks.”
“We pay over one million creators over 300 million dollars every month, and making sure that these funds get to creators involves using the banking sector,” Mr Stokely continued.
Stokely claims that Metro Bank closed the OnlyFans corporate account in 2019 and accused the Bank of New York Mellon of “making it difficult to pay our creators,” having flagged and rejected all wires linked to the site’s account.
“JPMorgan Chase is particularly aggressive in closing accounts of sex workers,” he continued.
Stokely also confirmed that the site would “absolutely” allow pornography back on the site, which saw its user base swell to 130m during lockdown, if the banks changed their policies.
“We obviously do not want to use our most loyal creators,” said Stokely, extending an olive branch to workers who have built their careers and livelihoods through the website.