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Cannabis Banking Issues and the Necessary Due Diligence

Submitted by Marijuana News on Fri, 06/17/2016 - 09:02

Can you imagine a world where you have no access to electronic banking? There would be no debit cards, credit cards or online payments. How about a world where you do not even have access to a checking account? It seems crazy and unfathomable in America in 2016, but that world exists for one of the country’s newest, hottest and most cutting edge industries.

That industry? Legal marijuana.

Banking and cash management are one of the cannabis industry’s greatest obstacles to growth. Most cannabis companies must operate exclusively in cash, which creates tracking and security issues for the companies and their investors.

This post discusses:

  • Banking problems facing the cannabis industry.
  • The direct impact they have on business owners, investors and customers.
  • Necessary due diligence that investors must conduct to effectively evaluate a target company’s banking and cash management practices.

 

The Banking Problem

Generally, banks in...

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