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Home 🌿 Marijuana Business News 🌿 Kiwibank returning money to medicinal cannabis charity 🌿Kiwibank returning money to medicinal cannabis charity
Thousands of dollars belonging to a charity advocating for medicinal cannabis has been returned after a bank stonewalled its moves to open an account.
United In Compassion (UIC) is a non-profit group advocating for New Zealand-based research into the therapeutic effects of cannabis-based medicines.
Kiwibank was the third bank that UIC, which has been trying to set up an account in the lead-up to a national symposium in April, has hit hurdles with.
On Wednesday afternoon Kiwibank agreed to release the money immediately but won't open an account for the group until compliance issues are sorted.
UIC co-founder Toni-Marie Matich approached Kiwibank for help in June and close to $5000 has been sitting in the account for the last month.
On Tuesday a Kiwibank manager told Matich he wasn't sure whether the account would be approved.
Initially the bank stalled over validating all the trustees but after each one spent...
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