Ancillary businesses (MRBs) may qualify for a merchant account, but banks look at these businesses on a case-by-case basis. The extra compliance requirements make banking for MRBs more difficult and expensive.
To make matter worse, businesses who touch the plant – dispensaries, cultivation facilities and manufacturers – tend to dump cash onto MRBs to get rid of its enormous amount of cash on hands.
If you are an MRB and can relate to this “cash” problem, we can help. Or if you are simply looking for a better way to invoice your customers and collect payments electronically, we can help. More details.