The OnlyFans Banking Solution

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[@tdmbusiness]

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[@tdmbusiness]

FREE OFM TELEGRAM COMMUNITY: t.me/+Kv3eKCRfTbFlYWI0

[@kellza1]

How do you set up the bank account to control the funds from the start for your client? Do you need to have a business wise account or any business banking account? Do you need to set them with a business account or you set up a business account and add them in really confused?

[@tdmbusiness]

Any business account that has the correct credentials (IBAN for GBP creators, etc) can work. You use your own client accounts and carry the clients share of the funds over to them. It is not your income, you are just moving their income for them.

[@dimicofinas5597]

@@tdmbusiness what do you mean by the IBAN for GBP creators do we need the IBAN of the model??

[@kappa132]

It's not that any manager is trying to be shady towards their bank but they are ridiculous towards OF. If it was like ''oh look im managing OF creators and I get money from there bla bla'' and they were like ''cool, got ya'' then everything would be easier. But for some reason they gotta act like they live in 1980 and OF is a deadly sin, not like millions of people are working on it and billions are made out of it

[@tdmbusiness]

Agree entirely. If only ey!

[@Pohujman]

How do you get the money to your bank account first if the name doesn’t match the model ?

[@tdmbusiness]

You can keep the model name the same. Providing details are correct, they pay out to the details, irrespective of the NOA.

[@Иван-ж4т3р]

​@@tdmbusinesssorry, what is NOA?😮

[@Sam-xt1kr]

Great video Liam, thank you! Which banks do you lads generally use in uk for: 1. Incoming 2. Intermediary 3. High Street Many thanks

[@tdmbusiness]

Incoming we use a lot of online; wise, Revolut, tide, starling, etc. Outgoing we use more high street banks; hsbc, tsb, co-op, virgin, metro, mettle, etc.

[@Kadijevicl]

@@tdmbusiness Liam, what is the Incoming type of account you are using lets say its Wise, do you setup private (models) account, or you set your Bussines account as your incoming?

[@Sam-xt1kr]

@@tdmbusiness appreciate the help 👏 👍

[@yohan10525]

@@tdmbusinessDo you need to pay fees for a business account on wise? And what about taxes? Thank you great video!

[@bobbyluck8953]

I just wanted to say that this was a very informative video. I learned a lot on my first watching, and found myself even taking notes. Thank you for making such a helpful video for people like me, who are just getting started

[@tdmbusiness]

Im glad you found the video informative, thanks for watching! Drop me a msg on IG @liamturnbulll or TG @liamturnbullll if we can help further!

[@robertgrizzard5056]

I dmed u​@@tdmbusiness

[@ellismacdonald563]

What should I do if I can’t open a business bank account cus I’m under 18

[@tdmbusiness]

If you are under 18 and trying to operate in the adult industry, this is obviously going to cause problems because its not legal. I cant help, sorry.

[@mclellanofm]

Amazing, how many creators are you guys working with and do you bank money for all of them?

[@tdmbusiness]

Appreciate it! So we are working with a few hundred creators, and id guess we work with 60% banked, 40% invoiced, but operate entirely at the creators request - the creator chooses if they prefer to pay or be paid.

[@WealthWireCreators]

What about simply hitting the creator with an invoice? I've seen that is the more popular route?

[@tdmbusiness]

Absolutely an option yes! This is completely fine to do, but sometimes it can prove difficult if you have a) lazy creators that dont pay, or b) big creators that dont have the banking operation to transfer tens of thousands per week, or c) a need for good cash flow.

[@tdmbusiness]

The right way to do this is to do what the creator prefers to do!

[@Teamproject-s2n]

can i use revolut VISA cards for visa direct withdrawal?

[@tdmbusiness]

Its not a long term solution.

[@Jackpot-jay]

Can you also bank with credit unions?

[@liamturnbull]

As long as it has one of the following: UK creators needs a IBAN number not just Sort Code and Account Number. US creators need ACH Routing Number and Account Number. Euro creators need a IBAN number linked to a Euro bank account. Australian creators need a BSB Code and Account Number for a AUD account. New Zealand creators need USD Bank Details or NZ Bank Details. With most other countries that don't fall into these categories you're better having the model bank the money and pay you.

[@Ricio-e9w]

Do you open a business account for the model to accept OF payouts? Or does personal accounts work? If you use personal accounts for the model, which banks do you use?

[@Admin-l4j4v]

Wait, what? How do your business bank accounts not get declined? What business industry do you set up as without misleading the bank? Thank you for the video! Very useful

[@tdmbusiness]

Its just about smart applications and good presentation of what you do. We can help if you're stuck.

[@chantellbullen7455]

I need help 🙈🙈🙈

[@conraddavey13]

the question is who's name is on the bank account that is attached to the OF account? as it's required to have a business account attached to it.. then is it necessary to have every model apply for an LLC and have a business bank account?? Or can the company have an LLC and bank account and connect it to multiple OF accounts? In other words.. can we have our business account attached to all of our model's OF accounts or does the account attached to the model's account need to be under her name??

[@alexbean582]

Does this still apply even with the dac7 situation that has just been implemented?

[@liamturnbull]

This has nothing to do with banking. This is to do with Tax.

[@adamdzuris5570]

@@liamturnbulldo yall pay them? from of?

[@minotor7176]

Can use a exotic country bank / company for this ? Like Hong Kong, Georgia, Singapour ? Is it ok if the bank is not in same country as the model ?

[@EcomEmpire-f5l]

Hello, if you start with a model from 0 , can you link you own bank account to her account? Even if it doesn't match her name?

[@marquisbettis7955]

no

[@tdmbusiness]

Depends on the payout method/currency, and the bank account as well. Some banks share beneficiary names, others don’t.

[@kafrikotroll8610]

Too much stupid flashy things unbearable to watch!!!!!

[@ofmitchellray]

So valuable man, appreciate it

[@tdmbusiness]

Glad you found value!

[@sayurnara7311]

I have a UK LLP - any particular high street account you recommend for walk-in account opening?

[@tdmbusiness]

Walk-In account opening tells me you are after speed, in which case online banks win here. High street banks are useful for holding funds.

[@sayurnara7311]

@@tdmbusiness Thank you. Would you recommend Wise Business for this purpose?

[@Иван-ж4т3р]

So the system looks like that: 1)Onlyfans-my business account any online(saying to them i do marketing) 2)then to other my banks to not overload one of banks and hide where from are they, 3)then invoice to models ?

[@FollowOF]

Can you use the same IBAN / Bank details for multiple models? Or will that get flagged by OF and cause issues?

[@tdmbusiness]

With UK faster payments yes, with any ACH/Swift transfers, you run the risk.

[@FollowOF]

@@tdmbusiness Why would OF not mind you using the same bank account details for multiple UK accounts, but if you're using ACH they would have an issues? 🤔

[@astoicmentality]

He’s not making sense. This video doesn’t make sense. His replies are so vague. Mate just get to the point. How can you use same details for multiple accounts? If it flags up? Explain in detail mate

[@adrianpopa-m4x]

Very useful ! Thanks

[@tdmbusiness]

No worries man I’m glad it was useful!!

[@editedbyastro]

GREAT VALUE

[@tdmbusiness]

Appreciate it!

[@Dmtmindset]

How do u get payout in canada from onlyfans

[@tdmbusiness]

So the creator is based in Canada and has Canadian ID and bank account, right?