Banks for Cannabis Businesses

Institutions Actually Banking the Industry:

View The List Here

CannaFirst Financial

One of the more transparent options.
– App fee: $500
– Monthly: $400 for plant-touching, $50 for non-plant
– ACH: $50 setup; $10–$20 per file depending on volume
– Wires: $20 domestic / $75 foreign
– Uses Green Check
– Debit cards: yes
– Carriers: Empyreal
They claim onboarding takes a week. Treasury team is actually reachable.

Dart Bank

The “you’ll pay but we’ll answer the phone” option.
– App fee: $500 (half refunded if declined)
– Monthly: $500
– ACH: unlimited
– Wires: $10 incoming, $25 domestic outgoing, $50 international
– Compliance via Shield
– Carrier: Empyreal
They emphasize they don’t charge for cash deposits; you negotiate directly with the courier.

Farmers Bank & Trust

Straightforward, steady.
– Monthly: $500
– ACH: $35/month
– Wires: $35/month
– Cash deposit fee: 4 cents per $100
Not much flair, but predictable.

First Financial Credit Union

A more “local credit union” flavor.
– App fee: $300 (non-refundable)
– Monthly: $250
– ACH/Wires available
– Cash night drop fee: 0.5%
– Uses Green Check
– Card limits: $2,000/day, can’t buy product with card
– Carrier: Empyreal
They also charge for inspection audits.

Herring Bank

Popular with smaller operators.
– No upfront fees
– Monthly: $350 (micro special)
– Annual admin: $600
– Wires: yes
– Monthly sales report required
– Carriers: Respond NM, Blue Line, Empyreal
They’ve been actively recruiting in NM and seem to understand the pain points.

Pima Federal Credit Union

The star of the CANM meeting.
– No app fee
– Monthly: $250 for THC-touching accounts
– ACH/Wires available
– Extra fees for other account types
– Compliance: internal (not Green Check)
– Carriers: TBD
– Cash deposit fee: 0.15%
Some perks like remote deposit and positive pay.

Prism Bank

Up-and-coming and aggressively courting NM.
– App fee: $249
– Monthly: $450
– ACH: $45/month (waived for CRBs)
– Wires: $20 domestic, $35 international
– Ancillary: $100/month
– Interest: 1.49% on CRB savings
– Compliance: Shield with full BioTrack UBI integration (no more manual uploads)
– Carrier: Empyreal
This one is becoming a contender.

Regent Bank

Big in Oklahoma, now expanding.
– App fee: $200 (waived for some)
– Monthly: $500 / $250 for micros
– ACH/Wires: standard rates
– Money Market: $100K minimum
– Compliance: Green Check
– Carrier: Empyreal (via Respond NM)
Old-school banking with a dedicated compliance team.

Safe Harbor Financial

One of the most established national players.
– App fee: $500
– Monthly: $300
– ACH: yes
– Wires: $30–$20
– Annual: $300
– Compliance internal
– Carrier: Empyreal
They waive ATM fees for micros if you install in-store machines.

Shore United Bank

They’ll bank you, but with limits.
– No app fee
– Monthly: $350
– ACH: $50/month
– Wires: no outgoing wires allowed (incoming domestic only)
– Compliance: internal
– Interest accounts maybe available
A narrow lane, but a lane nonetheless.

Southwest Capital Bank

Local, pricey, rigid.
– App fee: $2,500
– Monthly deposit tiers 0.85%
– ACH and Wires: standard
– Compliance: Green Check
– Minimum balance: $100
– No over-the-counter deposits over $1,000
They model heavily after US Eagle but with slightly better tiers.

US Eagle / Aery Group

The legacy 800-pound gorilla — and they charge like it.
– App fee: $500
– Monthly: tiered percentages of deposits (minimum $500, max ~$15K)
– Annual: $1,000
– ACH fees stacked
– Wires: $50 outgoing, $20 incoming
– Ancillary deposit fee: incoming funds 0.50%
– Compliance: Shield
– Carrier: Respond NM (avg $382/month), Blue Line, Empyreal
This is the most expensive option across the board.

Key Themes You Can’t Ignore

• Green Check & Shield dominate the compliance field.
• Pima, Herring, Prism, and CannaFirst are the most operator-friendly.
• US Eagle remains the most expensive by a long shot.
• Armored carriers are the second tax no one warned you about.
• Some banks still quietly route vault deposits to Colorado.
• Fees stack fast — ACH, wires, analysis, compliance, site visits, courier charges, minimum balances, interest rules.
• Micros get hammered unless the institution has special pricing.
• Full BioTrack API integration is rare — Prism and Shield appear to be moving in that direction.

Respond NM

The workhorse. Not cheap, not fancy, but predictable.

Merchant Pickups:
– 2x per week (Wed & Sat)
– $247.87 per month

Change Orders:
– $10 per order

Bag Verification / Processing:
– $7.50 per bag (bag limit: $75K)

Excess Cash Fees:
– Covers first $50K
– $.20 per $1,000 above that
– Up to 5 items per delivery included
– After that: $1.50 per item

Special Deliveries:
– Priced case-by-case

Fuel Surcharge:
– Based on RM prior month CPG ($3.659 example) + 8%

Average Monthly Total:
– $382

They’re the most established player. Expensive on extras, but consistent.

Blue Line

Bare-bones, flat-fee, and a little rougher around the edges.

Merchant Pickups:
– Once per week
– $110 per pickup (Tuesdays)
– Weekly minimum = $440 per month

Change Orders:
– $20 per order
– Must be submitted by Friday

Bag Verification / Excess / Special Delivery:
– Not offered

Fuel Surcharge:
– None

Average Monthly Total:
– $460

Blue Line is simpler but pricier month-to-month once you add change orders.

Empyreal Logistics

The national carrier trying to dig into NM territory.

Merchant Pickups:
– Will match Respond NM
– $45 per stop

Change Orders / Bag Fees / Extras:
– Structured to match your existing contract
– Often negotiates lower or flat rates

Average Monthly Total:
– Varies, but if they stick to $45/stop, you’re looking at:
– Weekly: ~$180/month
– Twice weekly: ~$360/month
– Comparable to or cheaper than Respond, depending on volume

Empyreal tends to be the most flexible. They know the market is price-sensitive and under-banked, and they’re willing to undercut incumbents to get your business.