Marijuana Banking Solutions
Even though selling marijuana and cannabis is legal in many states and the District of Columbia, it is still challenging for a marijuana-related business to find a bank willing to open a business account. The primary reason for this is that it is still a federal crime to sell marijuana which means any bank or credit union that works with marijuana businesses leaves them open to the FDIC seizing their assets. Even so, a few banks and credit unions will work with a marijuana-related business, but they do not advertise this service. Naturepay Cannabis Banking Solutions can help.
We work with specific banks to open a merchant account for cannabis or marijuana-related businesses. We serve both brick and mortar retail sites and eCommerce sites. Our clients include marijuana, cannabis paraphernalia and CBD retailers.
We provide our clients an online gateway with proprietary software that includes all credit and debit card transactions. This helps ensure each transaction is secure, safe, and uninterrupted.
We also offer full ATM service to our cannabis businesses. We will install and program the ATM’s at the retail site and offer a five-year warranty on all labor and parts. There are no monthly service fees for the ATM and includes real-time reporting. Our customer support is extremely responsive and helpful.
One of the benefits of using our banking solutions is the re-loadable customer cards. We provide each client branded store value cards which the customer can reload with cash to make purchases. The cards are also part of a loyalty program. This payment card program is entirely independent of the Visa/MasterCard system. This will help processing fees.
Our client’s customers can directly load their store card using their mobile phone. The mobile app connects the store card to the client’s bank account or credit card. When the customer makes a purchase using their store card, the money is deducted from their account or charge card.
This process helps speed up checkout times and reduces lines at the checkout counter. Each store card carries the name and logo of the marijuana or cannabis-related business which will assist in driving return traffic. Our retail clients can use data provided by the store card to help develop marketing campaigns and increase sales. Our store card program offers our customers a long-term solution that will also provide long-term benefits.
One of the challenges to running a marijuana-related business is handling thousands of dollars in cash. With our banking solutions, retail cannabis businesses no longer have to worry about carrying $10,000 or more to the bank after closing. Our marijuana banking solutions facilitate money deposits and exchanges. There are no limits on the types of currency or the amounts deposited in a merchant account.
We offer online banking services which allow us to serve cannabis-related businesses anywhere in the world. Our cannabis banking solutions provide all the right products to help a cannabis-related business grow and prosper.