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You're ready to enter the cannabis-related business world, right? You have your business plan, your business license, and you have a location scouted out. You even have some cash to start up. But have you done your homework on the banking end of things?
Running a cannabis business isn't like running other businesses; it comes with specific banking needs and many financial institutions don't want to bother with the maze of legal documentation and accounting reports required to keep cannabis accounts legally compliant. Most financial institutions will close accounts once they learn, or even suspect, their client's money comes from a cannabis-related business, even if the business is legal and operating within state law. Not Aery. We were created to specifically serve the CRB industry, and are backed by the state’s oldest credit union, U.S. Eagle.
Though cash may be king, it can also be a pain. The cannabis industry is rife with the risks associated with cash-only transactions, which creates safety concerns for CRB employees, vendors, and customers. The risk of stashing large amounts of cash, finding ways to transport it safely, and depositing it securely will only increase as the legal sale of cannabis products for adult use is set to begin in less than a year in New Mexico.
As the state cannabis industry grows, so will the tax revenue, and CRBs will have to find secure ways to pay their business fees and taxes. The transparent and compliant banking solutions Aery Group offers will be key for any cannabis-related businesses in New Mexico that needs to operate professionally.
All successful businesses need basic financial services like checking, debit cards and wire transfers. Today, CRBs shouldn't spend resources to handle, juggle, and stash large amounts of cash. Aery Group's experience in providing accountability and compliance for our clients, coupled with the security and safety of cash transport from an approved courier service, and fixed fees, could relieve CRBs from that burden and help them to grow confidence. Aery’s CRB clients have access to cash handling services, wire transfers, debit cards, electronic payment platforms, mobile banking options, and more.
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Cannabis Start-up Businesses Need Banking Services Now
At Aery Group, we’re doing all we can to make it easy for your CRB startup to get the banking services you need before you open your doors.
5 Reasons to Open a Cannabis Business Bank Account
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.
While we offer this link for your convenience, please note that we are not responsible for the content provided by third-party websites. We encourage you to review the policies of any website prior to sharing personal information to ensure privacy and security. Any products or services accessed through this link are not provided by, endorsed or guaranteed by US Eagle Federal Credit Union.
