Hey folks,
What banks do people use for the CBD transactions? also what is a good payment processor?
Square is taking forever, (its been 3 months already)
I distinctly recall preferring large bags of cash, picked up in person and delivered via courier service. 
But really…
I have friends that use Square for non-cannabis things that also have issues getting payments out. Like they want all the I’s dotted and T’s crossed and things. So I’d check to make sure they have your tax info and that your routing information is correct, etc.
And it always helps to ask your local banks - smaller ones have generally been more friendly. Especially if you are doing in state transactions.
The big credit companies appear to on the surface still be risk averse. There’s a session in tomorrow’s NCIA Cannabusiness Cyber Summit that covers banking (indeed, there is an entire series focused on banking). You can still register, its free for member companies and pretty darn cheap otherwise.
All things hemp: Bank. Of. America. No questions ez just do it. Less hoops. Same day.
Square taking too long? Did you apply through the cbd specific link? Transactfirst.com is a decent lead for any payment processing. https://paymentcloudinc.com/ is another. Billmybank.com is awesome and a solution by transact first. Zelle is awesome. Cashapp is awesome. Get your stores to have those details displaying or a fancier solution like billmybank (see it’s demo)
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Bank of the West is hemp friendly. Quite a few hops to jump through, need to apply through the commercial division. We use them.
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I too switched to Bank of the West. They are explicitly ok with hemp businesses.
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John Stevenson
828-505-4878 — Office
812-265-9700 — Cell
866-746-6081 — Fax
PS: My business is strongly referral based, and I pride myself on helping start-ups — as well as established businesses. I’d love to help people you know with their processing and gateway needs. Thank you!
Contact this guy.
You will need to have your banking figured out, but he can get you card processing. If you qualify, I have to say the standards are pretty low.
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I feel like this is deja vu.
Bank of america worked for me.
Bank of the west told me flat out no, maybe it was just my local branches (northbay, ca)
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Bank of America told us to pound rocks about 6 months ago for an industrial hemp account. No hemp accounts we were told. This was in Illinois and Michigan though
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6mo ago? I don’t believe your timeline to be exact. They started accepting all hemp over a year ago.
Nobody I have sent to boa has been turned down. This is the first I’ve heard of it and would gladly help resolve.
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If you have a contact a BOA who can push it/ open it, I’m all ears. These fucks out here hear hemp and you spend the next hour trying to explain the difference between hemp and marijuana only to be told no.
6 months ago almost exactly 
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We originally opened an account with a local branch, they closed it because their policy changed making a requirement that all hemp accounts had to go through the commercial division. The commercial division isn’t much fun to work with, but they did accept our account.
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Pm being sent.
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Safe Harbor in Colorado. We have a Hemp specific account and a separate account for our THC business.
It takes some work to get set up but they’re super nice. Our THC company has been through 18 banks in the past 6 years.
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