Organic Electrochemical Transistors are versatile sensors that became essential for the field of organic bioelectronics. However, despite their importance, an incomplete understanding of their working mechanism is currently precluding a targeted design of Organic Electrochemical Transistors and it is still challenging to formulate precise design rules guiding materials development in this field. Here, it is argued that current capacitive device models neglect lateral ion currents in the transistor channel and therefore fail to describe the equilibrium state of Organic Electrochemical Transistors. An improved model is presented, which shows that lateral ion currents lead to an accumulation of ions at the drain contact, which significantly alters the transistor behavior. Overall, these results show that a better understanding of the interface between the organic semiconductor and the drain electrode is needed to reach a full understanding of Organic Electrochemical Transistors.