Looking For A
Merchant Account to Accept Credit Cards In Your
Cannabis Related Business?
You've come to the right place!
B.I.G. proudly supports the entire cannabis industry-from plant touching to industry supporting businesses of all types.
We would like to welcome you to the Bankcard International Group (BIG) family. B.I.G. proudly supports the cannabis industry and the legal businesses that drive the industry.
Banking regulations affect ancillary cannabis businesses and services just as much as plant touching cannabis businesses. Because of this, credit card processing services for ancillary cannabis merchants have been nearly impossible to attain, until now.
If you are looking for a merchant account and have had trouble with shut-downs or been declined in the past, give us a call. B.I.G. is your go-to provider for ancillary cannabis business merchant accounts.
Request your ancillary services merchant account now. To get started, simply reach out to us and we will get you everything you need to get started right away! We look forward to the opportunity to work with your cannabis related business for many years to come! Payment processing, done right.
What is a Cannabis Related or Ancillary Cannabis Business?
The cannabis industry, just like any other industry, needs access to various supporting trades to conduct business. These businesses are called ancillary services to the cannabis industry and it can't survive without them.
Cannabis related businesses include:
- Cannabis lawyers
- Doctors that provide cannabis recommendations
- Cannabis Consultants
- Cannabis Trade show organizers
- Cannabis T-shirt makers
- Vaporizer manufacturers
- Cannabis web designers
- Cannabis Packaging companies
- Cannabis Trade show companies
- And more...
As one of the fasted growing industries there is great demand for these services. As a result, many have left their traditional clients to service the cannabis industry, either exclusively or partially.
Banks refer to these companies as Cannabis Related Businesses, or CRBs. When a business derives all or part of their income from the cannabis industry, it can cause banking and payment processing problems. But these companies are growing quickly alongside the cannabis industry. They are an essential part of the growing industry, and as such, require fair access to bank and merchant services.
Have you had trouble with your merchant account because you work with cannabis businesses?
Don't Worry.
Cannabis related businesses are often “guilty by association” when it comes to financial services. This is largely due to federal anti-money laundering law under the Bank Secrecy Act (BSA).
AML laws state that businesses that derive income from cannabis, plant touching or not, require enhanced reporting. These enhanced reports, called Suspicious Activity Reports (SARs), are designed to help combat money laundering. BSA guidelines require banks to file a SAR anytime there is suspicious activity. These regulations are overseen and enforced by the Financial Crimes Enforcement Network (FinCEN).
Because of this, the majority of merchant service providers and banks are either not equipped to, or not willing to, work with the industry.
For this reason, most payment platforms including Square, PayPal, BitPay, and any of the major processors (ie. Fiserve, Global, Elavon, etc.) list “marijuana and marijuana related businesses” on their Prohibited Merchant list. These same regulatory requirements have caused problems with bank depository accounts for CRBs as well.
Not all High Risk Merchant Account Providers are the same.
Remember, just because a sales office claims to be a “high risk merchant services provider” does not mean that they have the expertise you need. Providing stable and sustainable merchant accounts to cannabis related businesses requires a specific expertise. Having traditional high-risk experience is simply not enough.
Don’t go through the frustration, time, and cost of establishing a “high risk merchant account” only to be shut down. Why risk having your funds frozen, and being left hung out to dry, with no way to accept payments, again?
B.I.G. has the expertise. We combine our experience with guaranteed rates and the five star service your business deserves.
If you are looking for a cannabis related merchant account to accept credit cards contact us. Experience the BIG difference. You’ll be glad you did. Remember it's not how big your payment processor is but how BIG YOU are with your merchant services provider.
How to get approved to accept credit cards at your cannabis related business.
At B.I.G., we like to keep things straightforward and efficient for you. Activating your ancillary cannabis merchant account to accept credit cards couldn’t be easier.
Here's how it works:
- Reach out to us for the appropriate application for your business type.
- Submit the proper Supporting Documents in full.
- Let our expert in-house underwriting team go to work for you to get you approved.
- Start accepting credit cards and doing what you do best - running your business!
We look forward to working with you and helping the cannabis industry grow!
