Options for business bank account

Discussion in 'Marijuana Business and Industry' started by aaron2100, Aug 6, 2019.

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  1. Hi everyone,
    I'm setting up a hemp business and I need a bank account. I found one broker that can get me a bank account for $950 up front and $150 a month. That seems a bit crazy for a simple bank account, so I'm looking for alternatives. Please share your resources.
    Thanks!
     
    • Funny Funny x 1
  2. A 55 gallon drum barrel and a shovel.
     
  3. Well, at least that comment made me laugh...
     
  4. Why are you having to pay to open a bank account?? Is this "hemp" business really a "weed" business???

    I've never known anyone to pay to have a bank account.. you just take proof of who you are & shit like that so they can do a background check..
     
  5. I assume you're looking for this account for security reasons? So that the feds cannot drain your account if they see fit?
    Do you just need basic savings and checking accounts with paper checks and a debit card?
     
  6. Hi,
    The reason for this is that currently banks are afraid to give accounts to businesses in the hemp and CBD industries because the federal gov has not specifically told them it's okay, even though they made hemp and CBD legal. If curious, you can do a quick google for "bank accounts for cbd businesses." I did find a bank account however, and from a bank that did not charge me extra bc of the industry.
    Thanks
     
  7. Thats what I figured kinda, theres a service called Genie Checking/Cashbox that might work if in the future you become unbanked, easily findable on Google.
    Website looks like it was made in 1990 ha but people use it for this purpose I think too.
     
  8. which bank did you end up going through, Aaron?
     

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