CBD Banking Basics

One of the biggest surprises for many CBD and hemp business owners is that they encounter difficulty with banking. This in a large part is because despite the Farm Bill making the production of hemp legal, that CBD and hemp are considered “marijuana-related” business. Based on federal guidance, that puts a significant regulatory burden on the bank.

There are many banks that have compliant, transparent and secure programs but they typically require engaging an industry expert to place your account and work with you to prepare the application. The banks like these partnerships because the applications they receive are ready for underwriting review and approval. This streamlines the process for the CBD business owner and the bank. These accounts have no risk of shut-down because the bank is knows exactly what your business is selling and meets all of the requirements to accept and operate these types of accounts.

Our company MRB Compliance Group is an expert in CBD and Hemp banking and merchant processing. We’ve put together a mini-course “Getting into a CBD Friendly Bank”. This will give you more information about the CBD and Hemp banking landscape.

We invite you to check out our free mini-course

Getting into a CBD Friendly Bank

Our goal is to cut through the myths and give CBD business owners the realities to make the best choices for themselves and their business. We never want someone to be at risk by electing to hide their account, or being frustrated by the process of trying to find a bank that will accept their business on their own.

We invite you to visit us at MRB Compliance Group.

MRB Compliance Group provides CBD and other high-risk banking, merchant processing, and compliance solutions. Schedule a call with us at www.calendly.com/mrb-compliance