When you need a CBD merchant account, one of the things you’ll notice is all the credit card processors that are going to refuse to give you one. Fortunately, this doesn’t have to be a problem for you any longer. Choice Funding will work with you on opening a CBD high risk merchant account and keeping the account alive.
CBD Merchant Accounts
Items required for approval*:
- High Risk Merchant Application Packet
- 3 Months Bank Statements
- 2 Years Financial Records
- 3-6 Months Processing
- Copy of Manufacturing Agreement
- Copy of Lab Test Results Proving .3% max THC Level
*Average approval time 48-72 hours
New set-ups are welcome!
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Choice Opens CBD Merchant Accounts
Shortly, Choice will open merchant accounts to process credit cards domestically (in the US) for e-Commerce stores selling CBD products.
This will look and feel just like processing credit cards for any other business.
- Each batch of transactions will be settled into the business’ bank account daily.
- The business’ name will be displayed in the descriptor of the consumer’s credit card statement.
- The merchant account, bank account and business will all be in the United States.
- A reserve will likely be held for 6 months.
Accounts are for hemp based CBD only. Lab tests results are required to validate the products as CBD derived from Hemp.
Choice Has A Domestic CBD Merchant Processing Option Available
With the rise of medical legalization, recreational legalization and also CBD adoption, the banking and credit card processing climate around cannabis has been volatile to say the least. Over the last 4 years alone, the ability to process credit card payments for CBD has been allowed and disallowed several times. Generally, when a solution has cropped up, it has been a workaround that pushes the limits of legality.
Those options have been expensive, unreliable and ultimately resulted in a huge expenditure of time and money for CBD entrepreneurs who used those options. FINALLY, we have a 100% legal CBD merchant account solution for your US business.