FAQ2020-09-02T00:53:27+00:00

F.A.Q.

Will I have online banking access?2020-09-01T22:23:05+00:00

Yes, you will receive access to your online banking system

Will I have direct access to a banker?2020-09-01T22:21:16+00:00

Yes, we believe in 100% transparency, so once your contracts are signed, we’ll introduce you directly to banking staff to put your mind at ease.

Can I bring cash to the bank myself without using your cash vault services?2020-09-01T22:21:16+00:00

Yes, in small amounts. For larger amounts, our Cash Vault Service is required. 

What’s the fine print, are there any hidden fees?2020-09-01T22:21:16+00:00

No, we will provide you, in full disclose all the fees you’ll be responsible for.

Can I write checks?2020-09-01T22:21:16+00:00

Yes, this is possible. It will depend on your unique situation so please schedule a Banking Discovery Call for details.

Do I need to maintain a minimum monthly balance?2020-09-01T22:21:16+00:00

You’ll need to open your account with a $500.00 to $1000.00 initial deposit. 

How long do I need to be in business to qualify for a bank account?2020-09-01T22:21:16+00:00

We can work with you if you’re a startup (in business less than 1 year) or a mature company if you’ve been in business 1 year or longer.

How long does it take for funds to clear and be available?2020-09-01T22:21:16+00:00

Usually, your funds will clear within 24 to 72 hours after deposit. Times vary by bank and state.

Does this service work with my existing POS?2020-09-01T22:21:16+00:00

Yes, we can provide a custom integration into any Cannabis or non-Cannabis POS system.

Can I pay my MRB related taxes from this account?2020-09-01T22:21:16+00:00

Yes, we’re certified through the SSUTA to provide electronic tax transmission services on your behalf.

Can I create invoices for my vendors?2020-09-01T22:21:16+00:00

Yes, you can use our Cannabis Banking Platform (CBP) to invoice your vendors for products, services, and taxes. 

Can I use a cash pickup service that’s tied to this account?2020-09-01T22:21:16+00:00

Yes, we offer cash pickup and cash vault services for picking up your cash on scheduled days during the month.

Is this an interest bearing account?2020-09-01T22:21:16+00:00

No, this is not an interest-bearing account.

What are the monthly fees associated with this account?2020-09-01T22:21:16+00:00

Our pricing starts at $1000.00 per month depending on your geographic location and which services you’ll need.

Can I use an ATM/Debit Card with this account?2020-09-01T22:21:17+00:00

Yes, if you require Cash Management Services, you will be placed with one of our banking relationships where you’ll get an ATM card.

Is this an FDIC insurance bank account?2020-09-01T22:21:17+00:00

Yes, we work with a variety of Credit Unions and state-chartered banks to provide you with a bank account that’s nearly identical to non-MRB (Marijuana-Related Business) entities that you may have now.

How long does it take to open my bank account?2020-09-01T22:21:17+00:00

The entire process usually takes less than 3 weeks. There’s a fair amount of documentation and paperwork that needs to be collected. The faster you can provide us the required documents, the faster we can have your account setup.

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