The company says the ban on sexually explicit content is going in to effect Oct. 1 ... and seemingly blames the decision on outside pressure, saying it's making the big change to get in line with requests from banking partners and payout providers.

The company says it's got to evolve to "ensure the long-term sustainability of the platform, and continue to host an inclusive community of creators and fans."

As you know, OnlyFans is mostly filled with women and men reeling in subscribers with nude videos and photos, and porn. It's lucrative too.

Bhad Bhabie raked in $1 million in just 6 hours in her OnlyFans debut back in April, a record for the site.

It sounds like there will still be some wiggle room for nude content on OnlyFans moving forward ... the company says creators will still be allowed to post content with nudity as long at it jibes with their "Acceptable Use Policy."