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Ep. 169: How to Find a Reliable Cannabis Bank

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Manage episode 483814645 series 3139795
Content provided by DOPE CFO. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by DOPE CFO or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Cannabis businesses can't simply walk into any bank and open an account. Most financial institutions are still too nervous about the federal implications, leaving operators stuck with high-fee relationships or worse - operating entirely in cash.

When cannabis businesses do find banks willing to work with them, the fees can be outrageous and services limited. Without proper banking, you're paying premium costs for basic services while handling cash risks that threaten your business.

Listen in to learn what makes a good cannabis bank and how to find one.

Andrew Hunzicker, CPA will cover:

  • Key banking requirements cannabis businesses absolutely need

  • Red flags that signal overpriced or unstable banking relationships

  • How to negotiate reasonable fees and terms with cannabis-friendly banks

  • Differences between credit unions, community banks, and national institutions

  • Essential questions to ask before signing a banking agreement

  • Practical tips for maintaining strong banking relationships long-term

Don't settle for cash-only operations or exploitative banking terms. Learn how to find and secure the banking relationship your business deserves.

  continue reading

170 episodes

Artwork
iconShare
 
Manage episode 483814645 series 3139795
Content provided by DOPE CFO. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by DOPE CFO or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Cannabis businesses can't simply walk into any bank and open an account. Most financial institutions are still too nervous about the federal implications, leaving operators stuck with high-fee relationships or worse - operating entirely in cash.

When cannabis businesses do find banks willing to work with them, the fees can be outrageous and services limited. Without proper banking, you're paying premium costs for basic services while handling cash risks that threaten your business.

Listen in to learn what makes a good cannabis bank and how to find one.

Andrew Hunzicker, CPA will cover:

  • Key banking requirements cannabis businesses absolutely need

  • Red flags that signal overpriced or unstable banking relationships

  • How to negotiate reasonable fees and terms with cannabis-friendly banks

  • Differences between credit unions, community banks, and national institutions

  • Essential questions to ask before signing a banking agreement

  • Practical tips for maintaining strong banking relationships long-term

Don't settle for cash-only operations or exploitative banking terms. Learn how to find and secure the banking relationship your business deserves.

  continue reading

170 episodes

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