The CBD and Hemp spaces are almost universally considered to be a high-risk industry. When determining whether or not a business is classified as high-risk, financial institutions examine a variety of factors.
Even though most states allow for the sale of THC-free CBD products, the legal guidelines vary greatly. On its own, this inconsistency is enough for many banks to deem CBD and Hemp businesses as high-risk. Considering that the product category is relatively new, financial institutions are even more discouraged from backing businesses in the CBD space.
If you find a traditional financial institution that is willing to accept the risk, they will likely charge ridiculous fees. Worse yet, these institutions often place restrictions on the high-risk accounts they house that will hinder your ability to effectively do business.
Teaming with our experts is the more practical solution. Paybotic provides payment processing services without crippling costs and restrictive merchant agreements.
Paybotic is not your average payment processes service. We set ourselves apart from the competition by providing a range of unique offerings and quality support. The benefits of working with Paybotic include:
Earn A Federal Credit Up To $26K Per Employee