Archive

Archive for the ‘Escort Agency Set Up Advice’ Category

Sue: Reputational Liability

December 27th, 2011 admin No comments

Around 4 years ago I came across a really frustrating issue that I pursued as far as I could.  It never got fully resolved and it never will whilst this industry is seen as working on very grey boundaries of the legal system.

The issue I had was in relation to the setting up of a business bank account.  I already knew from agencies I became aware of that they did not declare what they were using their bank accounts for.  Most escort agencies were not limited companies and therefore you actually do not have to have a separate account for your business monies so the agency owner I first knew operated a bank account in her own name.  Another agency owner I came across operated his account under his business which was I believe something in the technology industry.

For me, I felt all of this was just not quite right so I did the same I am often wont to do and put my head in the lion’s den (ie the banks) and set out to get a business account stating clearly that I ran an escort agency.  Could I do it?  Nope.  I still remember my solicitor years back saying clearly to me “you are too professional for this kind of industry Sue and what you want you to do will often not be possible”.  He was not wrong as time and time again I have come up against issues of varying degrees of irritation.

Angels4You has always been a trading name of my own limited company and I have always split out the turnover into the different kind of fees I raise so that I can clearly establish in my own accounts what is coming in and being spent on which parts of my business.  My bank account covers both areas of my business and I have had no problems with it as I chose to go with a bank where everything was done online or via the post and I did not have to have a bank manager or counter transactions.  I would rather have had a high street bank account, however, at that time in my business development, it could not be done.

Other agencies have found their own ways to operate bank accounts and no one way will be right for everyone.  What I would wish for though is those horrible words “Reputational Liability” to be revisited by the banks and that some sensible bank/customer manager realises that some people in this industry do care enough about professionalism to want to be above board but for now, all I can say to those people who want to declare to their bank managers that they run an escort agency is “don’t be too surprised when they say no”.

 

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter