Banks That Accept Cbd Business

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Banks withdrawing support for industrial hemp/CBD businesses – WKOW April 26, 2019 by Mary Sparks MADISON (WKOW) — A handful of CBD stores and hemp growers in Dane County are being told by their financial institutions their accounts will be closed. At this time, federal bank chains are not accepting CBD business accounts. Banks want a hit of the marijuana business. The number of banking institutions that are actively servicing accounts for marijuana businesses has grown by nearly 20 percent since the beginning of the year, according to newly released federal data. For instance, banking: many banks are hesitant to allow CBD companies to open accounts with them because of CBD’s relationship to marijuana. However, banks are also hesitant to open accounts for CBD or hemp businesses because some banks may be unfamiliar with the industry, Birrenkott said. 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