Module 7: CBD Banking & High Risk Credit Card Processing

Without the ability to process credit card payments, your CBD business will be limited. But things are so bad in the industry right now that small businesses are choosing to risk it all to process credit cards in a way that could shut their business down for good.

This topic is definitely a topic you want to stay up-to-date on...daily!

You must have special merchant processing to take payments for your CBD business.

 

 

Banks

Be extremely careful when opening up a bank account with your current bank. Do NOT tell them you're in the CBD business. If they find out then they will close ALL your accounts and tell you to take your banking elsewhere.

I recommend using a credit union. Some of them are CBD friendly due to the fact that don't have to follow FDIC rules.

 

NO PayPal or Stripe

Paypal and Stripe are NOT CBD friendly. If they find out you're processing CBD product, they will close your accounts.

 

Top 4 Credit Card Merchant Processors

Square

  • Startup friendly
  • Lowest rates in the industry
  • Use of Square's Free Swipe

Digi Pay

  • Startup friendly
  • Integrates w/ Shopify

E-Merchant Broker (EMB)

  • Custom pricing for each merchant
  • Startup friendly
  • A+ BBB Rating

 

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