Like Lily Phillips, my sex worker friends are losing their bank accounts — I could be next

It’s completely legal work, so why are sex workers being debanked? (Picture: Shutterstock/ Tero Vesalainen) Can you imagine trying to navigate the world without a bank account? A difficult prospect, isn’t it? Worse than being without a passport, without a bank account, every tiny dreary detail of your life becomes an impossibility. This morning I’ve paid for a flight, transferred money to my son, received payments from Onlyfans, a tenant, and a custom film buyer, paid this month’s broadband bill — and tried not to worry how I’d do any of this if my bank shut down my account. Because for many sex workers, this is our new reality. There’s even a term for it, it’s called being ‘debanked’. It happened to famous porn star Lily Phillips, who just this week took to TikTok to share she’d had her business bank account taken away last year. ‘It was purely because they didn’t like my job,’ she claimed to her 481,000 followers. ‘This is an issue amongst the majority of [adult] creators.’ Ask Metro Use AI to go deeper into the stories you care about – powered by Metro and trusted publications. As far as I’m concerned, she’s right on the money. Banks have become markedly more cautious in recent years, as regulators increase scrutiny around money laundering, fraud, sanctions and financial crime. Yet despite the exchange of sexual services for money being entirely legal in the UK (apart from in Northern Ireland), those of us in the adult industry are getting caught up in this financial purge. Adult businesses are often treated as ‘high-risk’ customers, meaning banks may ask for significantly more information about income or decide the compliance burden isn’t worth the risk. This is despite UK banks being warned by the Financial Conduct Authority in 2024 that denying or shutting down business accounts could lead to ‘significant harm’ for sex workers. These establishments insist decisions are made individually, rather than because of moral objections to sex work. Yet, for many legal sex workers, the outcome feels indistinguishable from a blanket ban. Usually it begins with payments being withheld because they come from porn sites. This tends to flag the account, which leads to closer scrutiny, sudden requests for social media accounts and website addresses. Once these are seen to be linked to the sex industry, the account is often closed with one cursory email: ‘You have a business considered to be in a high risk category and will need a specialist provider. Unfortunately, we can no longer assist with your banking needs and will be closing your account with immediate effect.’ What does the Financial Conduct Authority (FCA) say? ‘Banks can choose who they offer accounts to, but they must meet the standards of the Consumer Duty,’ an FCA spokesperson told Metro. Consumer duty refers to the FCA’s required standards of consumer protection across financial services, which expects firms to put their customers’ needs first. This includes acting in good faith towards customers, and treating them honestly and fairly. ‘Blanket policies that unfairly exclude certain customers are unlikely to meet the standards we expect,’ they added. ‘If someone believes they have been treated unfairly, they should complain to their bank first and, if they’re unhappy with the response, take their complaint to the Financial Ombudsman Service.’ The spokesperson for the public body also outlined that firms need to give at least the contractually required level of notice, which for contracts agreed after April 2026 is 90 days, with a clear explanation in writing. According to guidelines, banks must also consider how their interactions can support the customer’s objective of having an account – including proactively providing information and any relevant support – and factor in whether consumers are vulnerable. It’s happened to a few of my friends. Suddenly, they’re having to rely on their husbands to pay all the bills and receive all their income, as if feminism never happened. Why? They’re engaging in legal work, paying huge amounts of tax. The prospect terrifies me. Every email from my bank feels doom-laden: every request for more information makes my stomach drop. Is this the message that tells you your account is being closed? That the job you’ve legally done for years somehow makes you an unacceptable customer? I’ve been a dominatrix and kink model for twenty years, and a sex worker for thirty. I love my work. I genuinely believe it makes people’s lives better. My clients leave happier, more confident and more understood than when they arrived. Every month, it seems, another payment provider changes its policies, another bank asks more intrusive questions — and another performer loses access to the financial services the rest of the country takes for granted. Melissa worries every day that she will lose her bank account (Picture: Melissa Todd) The practical consequences are enormous. Your direct debits fail. Your rent becomes harder to pay. Your business grinds to a halt. You struggle to prove your income. Your mortgage, tenancy or insurance applications become more complicated. Financial exclusion has a habit of spilling into every other part of life. A friend recently had her PayPal account shut down with little explanation. The company emailed her to say her account no longer complied with its Acceptable Use Policy. The balance was frozen for 30 days, leaving her unable to access money she’d already earned. Now, she’s fighting to keep her bank account. Another has been repeatedly asked to hand over social media accounts, websites and ever more information simply to access basic banking. These aren’t criminals trying to hide dirty money. They’re women trying to get paid for legal work and pay their bills. Banks will rightly say they have legal obligations to prevent fraud and financial crime. Of course they do. But legal sex workers have become easier to exclude than to understand. We’re suddenly in the same category as arms dealers and criminals. HMRC has never once suggested my money is too controversial to accept. Every year I declare my income and hand over a sizeable chunk of it. The government is perfectly happy for me to contribute to the public purse. It’s only when I try to access the ordinary financial services every other self-employed person relies on that my occupation suddenly becomes a problem. What are we meant to do? Give up? Get a job in Tesco? Earn less, pay less tax and live miserably, without the regular daily dose of champagne and sequins on which my dopamine levels depend? Pretend the last three decades never happened because somebody in a compliance department decided we’re too difficult? Sex workers are having to rely on their partners to help them with their finances after being debanked (Picture: Shutterstock/ fizkes) The worst part is the constant uncertainty. You begin questioning everything. Should I describe my work differently? Should I avoid mentioning what I do? Will this payment trigger another review? Is this the week I lose access to the account I’ve had for forty-five years? Nobody should have to live like that. We own homes, care for relatives, employ accountants, support local businesses – hell, I suspect half of Broadstairs’ service industries rely on my client base to keep them afloat: spankos don’t drink cheap wine. Yet we’re only visible when someone wants to shame us. No one affected wants to talk about it for fear they’ll be targeted further. But someone has to, because this feels less like regulation and more like attrition – as though the hope is that, eventually, we’ll simply disappear. I’m proud of the career I’ve built: proud that I’ve supported myself honestly for three decades, raised a family, accumulated property, paid my way throughout. Since my work is legal, and my taxes are welcome I should be able to keep a bank account without being perpetually scared the next email will plunge my family’s, tenants’ and clients’ lives into chaos. Deals of the Day Wuka launches the UK’s first period-proof swimwear for heavy flows Bridgerton fans are rushing to buy these new Netflix-inspired perfumes now £12 off The affordable summer wardrobe update you'll wear from rooftop drinks to beach holidays The £7.99 lip balm beauty fans love for glossy, hydrated lips just dropped four new shades This Keskine hydrogel mask could fix your summer skin A bank account isn’t a privilege, but the foundation of modern life. And after 30 years of contributing to this country, I think I’ve earned the right to keep mine. Do you have a story you’d like to share? Get in touch by emailing MetroLifestyleTeam@metro.co.uk Arrow MORE: Martin Lewis warns 800,000 Brits hit by state pension error risking £10,000s each Arrow MORE: I refused to help my son buy a house — but now it might help me dodge tax Arrow MORE: Brits urged to turn off 5G in UK holiday hotspots as millions get ‘nasty surprise’ bill The Hook Up Metro's hottest newsletter, with juicy stories and tips for spicing things up in the bedroom. 18+