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Banking & Financial Services

Banks, credit unions and fintech platforms that open accounts for cannabis businesses, cannabis lenders, and the compliance software banks use to run those programs. Card and pay-by-bank processors are in Payments & Cashless; armed guards and cash transport are in Security.

13 listedProfessional Services

Marijuana is still a controlled substance under federal law: since April 28, 2026, a DEA final rule places marijuana subject to a state medical marijuana license in Schedule III, while adult-use marijuana remains in Schedule I. A bank or credit union that takes cannabis deposits does so under FinCEN's February 2014 guidance, FIN-2014-G001, which asks institutions to verify state licenses, review license applications, monitor accounts and file suspicious activity reports on the marijuana-related businesses they serve. That cost is why few institutions run programs, and why the questions to ask go beyond rates: which states the program covers, whether pre-licensed businesses qualify, what the compliance fee is, how cash gets from the store to the account, and whether the institution lends or only takes deposits. Lending is the scarcer half; most programs here are deposit-first.

Banks and credit unions: Needham Bank in Massachusetts banks cannabis clients in 21 states and D.C. with a team of more than 30; Dart Bank in Michigan reports about 700 cannabis and hemp clients; Salal Credit Union in Seattle has served the industry since 2014 and lends for equipment, real estate and solar; Sunmark Credit Union serves pre-licensed and licensed New York businesses; Ponce Bank, founded in the Bronx in 1960, offers pre-licensed checking and courier cash pickup; and Black Hills Federal Credit Union in South Dakota accepts cannabis businesses from any state. Two fintech platforms sit on top of partner institutions: Safe Harbor Financial, banking cannabis since 2015 in 41 states and territories, and Dama Financial by LeafLink, with accounts, smart safes and up to $250,000 in funding through First Option Bank and Dart Bank.

Lenders: FundCanna lends $5,000 to $5 million to licensed businesses with three months of history and $15,000 in monthly revenue, and Chicago Atlantic writes $5 million to $100 million senior secured loans, with a focus on limited-license states, through private funds and its Nasdaq-listed REFI and LIEN, which announced a merger expected to close in the fourth quarter of 2026. The bank-side tools are Green Check, Shield Compliance and RiskScout, which handle license checks, monitoring and SAR workflows for institutions. Every fact here comes from the company's own site on the date shown on its listing; regulatory points come from fincen.gov.

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Questions about banking & financial services

Can a cannabis business legally get a bank account?
Yes, at institutions that choose to serve it. FinCEN's 2014 guidance, FIN-2014-G001, sets out what the Bank Secrecy Act expects of institutions serving marijuana-related businesses, starting with customer due diligence: verifying with state authorities that the business is licensed, reviewing its license application and monitoring the account for red flags. Needham Bank, Dart Bank, Salal Credit Union, Sunmark Credit Union, Ponce Bank and Black Hills Federal Credit Union run named cannabis programs, and Safe Harbor Financial and Dama Financial by LeafLink offer accounts through partner institutions.
What are Marijuana Limited, Priority and Termination SARs?
They are the three suspicious activity report types in FinCEN's 2014 guidance. An institution files a Marijuana Limited SAR when its due diligence indicates the business follows state law and does not implicate federal enforcement priorities, then files continuing reports on that activity, so a Limited SAR is filed even for businesses the institution considers compliant. It files a Marijuana Priority SAR when activity suggests a priority is implicated or state law is violated, and a Marijuana Termination SAR when it ends the relationship to protect its anti-money-laundering program. Shield Compliance and RiskScout build SAR filing and case management into their bank-side platforms.
What will a bank ask for when I apply?
Expect to provide your state license or license application, information about the business and its owners, and its expected activity, because FinCEN's guidance asks institutions to verify licensing, review the application and request information about the business and related parties. Several programs here accept businesses before a license is issued: Sunmark serves pre-licensed businesses, Ponce Bank has a pre-licensed checking account, and Dama Financial by LeafLink accepts pre-operational businesses in the licensing process, while ancillary businesses need no cannabis license. Black Hills Federal Credit Union says approval generally takes about two weeks. Ponce Bank tracks documents and renewals through Green Check.
What do cannabis bank accounts cost?
Few institutions publish cannabis fees. Black Hills Federal Credit Union says it assesses a cannabis banking fee to cover compliance and due diligence costs but does not state the amount. Dama Financial by LeafLink charges a fee on most deposits that includes partner bank fees, quotes armored courier service and smart safes separately by location, and shows its fee schedule only to registered applicants. Needham Bank, Dart Bank, Salal, Sunmark, Ponce Bank and Safe Harbor do not publish cannabis account pricing. Ask for the monthly compliance fee, per-deposit or cash-handling charges and any minimum balance before you sign.
How do I get cash from the store into the account?
Most programs pair the account with courier or armored pickup. Dama Financial by LeafLink offers smart safes that validate bills, with deposits generally credited by the next business day after pickup, plus scheduled armored pickups, including from a buyer's location. Salal Credit Union offers cash pickup and delivery, Ponce Bank runs courier cash services that collect cash and checks at the business, Black Hills Federal Credit Union lists cash pickup and delivery, and Needham Bank offers remote cash handling and coin and currency services. Safe Harbor Financial lists cash logistics among its banking services.
Where can a cannabis business borrow?
From specialty lenders and a few institutions. FundCanna offers $5,000 to $5 million in working capital, credit lines, vendor and equipment financing to licensed businesses with at least three months of history and $15,000 in monthly revenue. Chicago Atlantic lends $5 million to $100 million, mostly senior secured, to established operators. Needham Bank lists expansion and acquisition financing and refinancing, Salal Credit Union offers lines of credit and equipment, commercial real estate and solar loans, and Safe Harbor Financial reports $120 million in loans originated since 2022. Dama Financial by LeafLink offers up to $250,000 through lending partners.
Do banks report my cash deposits to the government?
Yes. FinCEN's 2014 guidance says currency transaction reports apply to marijuana-related businesses the same as in any other context, alongside the SAR filings described above, and it lists deposits structured to avoid currency transaction report requirements as a red flag. Dama Financial by LeafLink's FAQ states that transactions are reported quarterly and that Dama and its partner banks follow the Bank Secrecy Act. Expect your institution to ask about large or unusual cash activity as part of ongoing monitoring, work that Green Check, Shield Compliance and RiskScout automate for banks.

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