AllTappedOut

This is a big issue right now that the Safe Banking Act is trying to address. There are alternatives that exist to traditional FDIC insured banking, but most businesses in the industry do stockpile cash (not on site obviously).

Alan, I would love to discuss this with you, would you be able to DM me, so we can discuss this further off reddit?

Thanks for the reply. I am actually a member of the NCIA, and have attended a few of their recent Virtual Summits. I find it hard to get past gatekeepers sometimes, and am always looking for direct referrals. My company handles financing of insurance policies, and we are looking to debut a banking/debit system for our partners to offer. We have partners all over the US, so we are trying to nail down a optimal solution for everyone. We currently are working with an issuer over a certain debit network to facilitate our own debit card solution with thresholds that reduce the reporting needed, but if there are certain banks open to working directly with us, that would be ideal.

What are the laws in your state in regards to insurance and banking for Cannabis Businesses? Do you know of any insurance agencies in your area that work specifically with Cannabis policies that you can refer?