Mike Dorrance CEO and Managing Partner of Evolution Risk MGA, explains how the now available checking accounts for cannabis businesses can greatly benefit them – they are no longer forced to be cash-only! Since cannabis is a federally prohibited substance, banks would either deny banking privileges to cannabis businesses or they would they would be inhibited by strict state regulations. Checking accounts lends itself to businesses legitimacy, and the ability to pay employees with payroll checks and automatic deposits. It also allows for PIN secure debits and credit cards. Landlords, and other receivers who may refuse cash-only transactions, may now be paid by check or electronic transfer. Colorado has already discovered the benefits of cannabis checking. Now, the way has been clear for others to reap these benefits and more. Tune in!
Find more at: https://w420radionetwork.com/s2-e11-covid19-cannabnoids-cannabis-banking-benefits-cannabis-law-business-coaching/
