M&M MERCHANT CARD SERVICES INC.



Marijuanna/CBD Bank Accounts & THC Licensees



HOW LONG DOES IT TAKE TO OBTAIN A COMPLIANT CBD BANKING ACCOUNT WITH M&M MERCHANT?





Be prepared when applying for banking or merchant services that until FDA and other Federal guidelines are promulgated and published, and also afterwards reputable service providers will require substantial due diligence, proof of compliance, product integrity and background checks. Review the Tier A compliance check requirements before opening accounts. M&M provides its clients expert guidance and advisory in navigating this process to a speedy and successful conclusion.


Under these circumstances, it’s best to allow 1 to 4 weeks for account onboarding and activation.


We have built and now offer our clients exclusive access to our proprietary Cannabis Banking Financial Network™. This growing consortium of more than 180 U.S.-based, industry-friendly and federally-insured financial institutions provides a full range of commercial banking services, including:

  • Compliant, transparent business checking
  • Cash depository
  • MasterCard/Visa/Amex/Discover merchant services
  • B2B electronic payment solutions
  • Payroll and employee accounts
  • Asset-based lending
  • Working capital
  • Cannabis-savvy commercial insurance


As a M&M client, you’ll be introduced to banking partners that welcome your marijuana, CBD and hemp-related business without workarounds, guises, or the constant worry that you’ll lose your banking relationship.



CANNABIS BANKING?





Given the currently limited bandwidth of ‘cannabis-friendly’ financial institutions, and the likelihood that full disclosure may result in account closings, limited transparency and risk mitigation may be the most practical short-term strategy for some businesses and professions. However, if your licensed clients wish to pay for goods and services with cash, especially large sums of cash, the “red flags” raised at your bank may mandate moving at least that portion of your business to one of our compliant, cannabis-friendly institutions.


Via its exclusive Cannabis Banking Financial Network™, Fincann provides expert guidance and access to transparent, compliant, sustainable banking and merchant processing services for cannabis ancillaries selling to THC licensees in 30 states plus D.C. across the U.S.:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming


OPTIONS FOR SUSTAINABLE B2B PAYMENT PROCESSING





Over the past several years, Fincann has collaborated with the cannabis industry’s leading and pioneering provider of bulletproof 100% compliant B2B electronic payment processing. Similar in structure to PayPal but designed specifically for THC licensed cultivators, manufacturers, wholesalers, testing labs, and transporters, this program is also bundled with a fully-compliant, transparent, sustainable federally-insured business checking account, including cash deposit service. Our partner is licensed and bonded by the banking commission in all states where it operates:

  • Arizona
  • California
  • Colorado
  • Florida
  • Illinois
  • Maryland
  • Michigan
  • Nevada
  • Oregon
  • Washington


BANKING CHALLENGES -- AND SOLUTIONS -- FOR CANNABIS SEEDS AND HEMP SEEDS





Both feminized and not, cannabis seeds are probably in the most confusing and unsettled legal landscape of all related commodities and market sectors. Legal in most European countries and now Canada, the legality of their purchase by and sale to U.S. consumers is subject to a patchwork of conflicting regulations across numerous jurisdictions. Suffice it to say that Fincann often has merchant processing solutions available for merchants in this sector, as well as a limited number of domestic and offshore financial institutions equipped to provide commercial checking accounts for the purchase of cannabis seeds.



CAN KRATOM MERCHANTS OBTAIN TRANSPARENT BANKING ACCOUNTS?





M&M has cost-effective and stable merchant processing programs available to vetted kratom merchants. To obtain bank accounts and merchant processing services, the beneficial owners and principal operators of a kratom business must pass rigorous background and Know Your Customer (KYC) investigations. Kratom merchants must also demonstrate ethical and transparent business practices and provide certified lab tests for all products sold to the public.


Why is kratom so controversial for financial institutions?


Kratom is a controversial plant-derived mild opiate that was almost classified as a Schedule I substance by the U.S. Drug Enforcement Administration (DEA) in 2016, only to be halted by an outcry from grassroots activists. It is currently legal for sale throughout the U.S., except in Indiana, Tennessee, Vermont and Wisconsin.


Its pharmaceutical effect is as a mild pain reliever and slight stimulant. It has been touted as a “miracle cure” for heroin and opioid addiction, but the U.S. Food and Drug Administration (FDA) warns there is no reliable evidence to support that. When it comes to banking, these facts lead to a range of reactions, from substantial reputational resistance to an outright ban by a financial institution. This applies both to basic banking services and merchant services.



9378 Arlington Expressway Ste #301, Jacksonville, FL 32225