Banking a Cannabis Business
You're ready to enter the cannabis-related business world, right? But have you done your homework on the banking end of things?Full Story
May 11, 2021, 16:53 PM
When you’re opening your business, a cannabis business or otherwise, a business bank account will help you start on the right foot. A business account will help you keep your business finances separate from your personal accounts, manage your finances from the start, and give your business the best chance at succeeding. At Aery Group, we specialize in cannabis business accounts and the special needs of CRBs.
1: Provide Clear Records and Recordkeeping
In the cannabis industry, tracking every bit of product and tracking every penny is key to making sure you avoid audits and fines. The same goes for your finances. At Aery Group, we offer no-charge online and mobile banking, so you can easily track your expenses and income. We also provide separate account statements that show all of your transactions so you can easily see where your money is going and track every penny.
Opening a business account shows your vendors, your employees, and your customers that you are serious about being in business. When you use a check or a debit card with your business name on it, it shows the world that your business is more than a hobby and that you take your finances seriously.
At Aery, we make sure that your money is safe, but also offer exclusive services such as cash couriers and secure debit transactions. Also, up to $250,000 of your money is insured by the NCUA.
Cannabis businesses are often all-cash enterprises. With a business account, you can have access to checking and debit cards, as well as wire transfers, which means that when you have to buy office supplies or a pay a major vendor, you can pay them safely and securely. Also, a business account at Aery will help you keep the lights on, literally, with our online bill-pay services.
5. Business Savings
Aery can help you save for the future with a business savings account. We can help you determine how to save for future growth and future purchases with a business savings account.
And, finally, US Eagle is New Mexico’s oldest credit union. By opening an account with Aery, you get access to all of the expertise, technology, and know-how of US Eagle’s business bankers.