CBD Merchants! How are you guys handling Elavon shutting down CBD merchant accounts?

@mastergrowers @growopowners @Bankers @FinancialServices @ServiceProviders Would love to hear everyone’s input!

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If people are still in need of a merchant account services, our payment system Zodaka operates as a direct bank-to-bank transfer, eschewing credit/debit cards or any other federally-based system. This method of payment allows us to operate in all fifty states legally, without reserves, without chargebacks, and especially without the threat of shutdown that other solutions include. Merchant sign-up can take as little as two days including underwriting and installation while customers can create an account in about two minutes. We charge below industry-standard per transaction and offer a full customer support program to ensure that your customers can transition to our system with ease.

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Witlon can help get compliant bank accounts and merchant services accounts. Please contact Conley Hoskins at conley@witloninc.com.

Thank you!

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it would be nice if we could get cc processing for less than 8%

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Even that seems pretty steep. For years it was a bad thing, now alot of people are trying to push other people outta the way, so that they can get in on the action. I’m glad there’s a spiritual layer connecting the foundation, but it can seem ruthless at times.

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Elevon is shutting down accounts on what grounds? Is this happening in multiple states?

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This was announced months ago. All of Elavon’s portfolio for CBD will be turned off over the next week and they’re no longer boarding new CBD accounts.

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I’m hearing that Elavon accounts won’t be terminated until the end of May (original date was May 15). Also, looks like Square may be offering services to the industry. Here’s the latest news from them:

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Square didn’t want this getting out, so unless Wells Fargo is going to openly say they’re fine with CBD, I’d be shocked if SQ is still in play within 90 days. In the end, they’re only working with high volume accounts. There will be new domestic solutions opening up over the next 30-60 days, but at this present moment, the only options are E-check or going offshore again.

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Why do they do this? I’m doing my best to keep a level head about it. This is weird though; it’s like they’re being drug away from the ‘table of feast’ and they just can’t let go, like, being overprotective.

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I’ve worked with Helcim when the vape industry in Canada was a grey area. I know they use Elevon for some of their services but the company seems “Youthful” and I could see them trying to accommodate to a changing industry.

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This is good. This is a partnership that needs to happen.

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Witlon can help get you set up with banking and payment services. We partner with Safe Harbor. Please contact Conley Hoskins at conley@witloninc.com.

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