Streamate News: How the Closure of First Choice Pay Affects Streamate Models (and how to move forward)

See original article from our friends at Xbiz: xbiz.com/news/234907/choice-bank-suspends-withdrawals-from-deposit-accounts

On April 10, 2018, Choice Bank (dba First Choice Pay) confirmed its “liquidity” status, and halted any future transfers to its accountholders. The sudden status change of First Choice Pay caused much panic across the industry: performers demanded answers and companies were left scrambling to provide their talent (especially non-US based performers) with alternative payment solutions. Streamate Models, among scores of others within the Adult community, were also affected.

With the cooperation of various departments, Streamate was able to confirm an alternative payment solution for models who were expecting to receive their weekly paycheck via First Choice Pay this week. Please watch this episode of Streamate News to learn more, NOW!

Additionally, here is a list of Streamate’s current payment methods for both US and non-US based performers:

Models – US – check, USPS Standard Mail ($20 min. payout, no fee) – check, FedEx Overnight Delivery ($200 min payout, $30 fee) – wire transfer, direct to bank account ($240 min. payout, $40 fee) – wire transfer, Paxum ($100 min. payout, fee determined by Paxum)

Models – NON-US – check, USPS Standard Mail ($20 min. payout, no fee) – wire transfer, Paxum ($100 min. payout, fee determined by Paxum)

-wire transfer, direct to bank account ($240 min. payout, $40 fee per transaction, Payee must be listed as a Company, *only available in select regions)

Streamate anticipates the addition of more, reliable payment options in the near-future.

If you have questions regarding your payment status, please be sure to contact Streamate Model Support. If you haven’t already selected an alternative method of payment if you were originally receiving your Streamate payments via First Choice Pay, please be sure to log into your Streamate account asap to update your preferences.

*CORRECTION:  In the video, wire transfer was stated as “Direct Deposit.” The bank wire transfer option is NOT “Direct Deposit.” Streamate transfers money direct to your bank via SWIFT code system. Since direct deposits are typically utilized for recurring payments between “employer” and “employee,” which does not apply in these circumstances, we felt it important to clarify this.

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