I just received insider information that Elavon will be shutting down all accounts used to process credit cards for the sale of CBD products. It is rumored that anyone shutdown will also have their funds held for six months.
If anyone needs a legitimate processor and wants to make the switch before your funds are held; I’ll pass you on to mine. We’ve been doing business with these guys for about a year now and have been really impressed. They deal directly with US banks. No offshore accounts or anything like. DM me if you’d like for me to give you his phone number.
If you are in this position or run into this situation in the future; keep your head up and just know that there is an entire community of people who have been in your shoes; here to help you bounce back.
This isn’t insider information. Everyone with an account with a few major banks received the email. They have 45 days to find another institution or pick up a cashiers check. Only the largest accounts will remain open.
Just got hit also. Oye, cruddy. Calling eureka now. I’ll take any leads if anyone knows of more. I’ll be honest I’m surprised processors are even ok with it in general. It’s hard enough in the vape industry.
I also have a contact that will provide FULL Banking Services. Please DM me in you are interested, must be following the Farm Bill and will require due diligence but if you can pass you will get great processing rates and FULL Banking services for CBD
Square has been pretty aggressive about welcoming CBD vendors lately. Others are welcome to share new processors. Things have changed quite a bit since this thread was posted