Cannabis Banking and Financial Services

Cannabis remains federally illegal, which creates risk for banks under the Bank Secrecy Act. Most national banks refuse cannabis accounts entirely. A growing number of regional banks and credit unions serve the industry, but they charge premium fees and require extensive compliance documentation.

Monthly account maintenance fees range from $750-2,500 (vs $10-50 for normal business accounts). Cash deposit fees run $500-1,500 per deposit. Some banks also charge a percentage of monthly revenue. Total banking costs typically run $2,000-5,000 per month.

Cashless ATM (debit-based, in regulatory gray area), ACH transfers through cannabis-friendly processors, cryptocurrency, and closed-loop payment systems. True credit card processing remains unavailable for plant-touching businesses due to card network rules.