Oregon-based cannabis businesses now have a banking expert resource
A crucial missing piece for the cannabis industry has been reliable business banking. Because cannabis business activities are not legal on a federal level, cannabis industry businesses have been forced to rely on antiquated methods of handling cash, work with the few credit unions that will take the risk of opening an account or find transaction companies that charge large, unwieldy fees.
That gap has now been filled for cannabis-related businesses in Oregon with Left Coast Financial Solutions – the first neobank in Oregon focused exclusively on the cannabis industry.
A neobank is also known as an online bank, internet-only bank, virtual bank, or digital bank, but however you refer to them, Left Coast Financial Solutions is a team of banking experts in Oregon that operate exclusively online without traditional physical branch networks but offers many of the advantages of a standard bank, plus free cash-in-transit services.
These cannabis business banking experts offer secure cash pickup, digital access to your money that can integrate with Quickbooks or other platforms, as well as ongoing compliance services and of course, account security and stability.
Finally – you’re able to make payments electronically to any business with a US bank account. Whether you’re a small or large organization, the solutions from this Oregon-based, cannabis-focused, group of banking experts can be customized to your specific needs, without hidden fine print or unrealistic fees.
In a nutshell, these banking experts provide money handling, compliance and transaction management. They align your business with standard financial practices including electronic checking, automatic and recurring payments, and standard invoicing times. Left Coast also maintains a best practices-based approach to addressing transactions, regulations and compliance. They can link directly to your existing accounting software and perhaps most importantly – provide 24/7 access to your account information via online or mobile.
Be assured that Left Coast exceeds all required federal and state regulatory guidance, most notable FinCEN advisory, FIN-2014-A007, and guidance FIN-2014-G001, so your funds are safe, secure, and always available to you.