How it Works
How the Safe Harbor Program works for cannabis-related businesses.
We perform thorough due diligence and verify you follow FinCEN guidelines
The first step in the Safe Harbor Program involves an extensive examination of your business. We do this to ensure you are operating within the required parameters. This provides financial institutions the information they need, so they know the CRBs they take on as customers follow FinCEN guidelines for receiving banking services.
We connect you with a participating bank or credit union.
Once your CRB has successfully completed the initial due diligence process, we work with participating banks and credit unions to find the one that best matches your business needs.
We provide the support needed for the monitoring and reporting part of the banking equation.
The Safe Harbor Program helps you monitor your bank account and pull monthly reports from your POS system. Account reports are prepared for review and verification by the financial institution.
These reports may include:
- State tax filings matched to the POS system to verify amounts paid
- Seed-to-sale information pulled directly from your POS to verify fund levels match sales.
You focus on growing your operation knowing your business and money are secure.
With the Safe Harbor Program, monitoring your bank account to ensure your business continues to meet all requirements is greatly facilitated and you will have more time to focus on things like increasing your customers’ average purchase size and planning for future retail expansion.