CBD/HEMP Account Requirements and Overview
North Bay Credit Union has been offering banking services to the cannabis industry since 2017 and, given the growth in CBD/HEMP growers and retailers, we have expanded our program to include experienced CBD/HEMP companies who qualify for an account with us. Through our partner Greenbax Marketplace, virtually any CBD or Hemp operator in the U.S. may qualify for an account. Start your application here. You may also contact a Greenbax representative at (866) 951-2551.
Our goal is to offer banking services in a completely transparent manner that will exceed the scrutiny of any legal or regulatory review. Should you receive approval for an account with us, here are the requirements for our CBD and Hemp accounts:
- Merchant Processing – if you plan to accept credit cards for payment, you will need to be approved with our preferred Merchant Processor. Once we receive your completed application, we will introduce you to our Merchant Processor. Please note: We will NOT accept any other Merchant Processors and as part of obtaining an account with NBCU, you will be acknowledging this requirement.
- Cash Pick-Up Services – most of our CBD/HEMP accounts do NOT require cash pick-up, but if you receive cash from your customers and you want to deposit those funds with NBCU, then we require the use of armored car service to pickup all cash as we do not allow cash to be brought into any of our branches.