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Merchant account closed with no notice!

My merchant account was closed with no notice yesterday. When I called them all they would tell me is the account was closed and would not disclose why. They said a notice was mailed but we never received anything from them even though all of the other monthly statements and notices arrived as usual. They also will not tell me what will happen to the outstanding transactions that have been processed but not yet deposited into my bank account! My customers cards were charged, product was shipped but it looks like I will not be getting the money. Hopefully they will refund my customers and they will reissue a payment to us through another method.
Anyway, what are members here doing for merchant accounts that are cannabis friendly?


@Bankers @FinancialServices

Any members with recommendations? This is a huge issue for our industry that does not get enough attention that it deserves. Without merchant processing services, how can we build a scalable business? Could you imagine paying your monthly Netflix bill or purchases on Amazon via check? We absolutely need merchant processing services in order to run a business.

@ron you are not alone in this fight. I am still navigating the channels for Growers Network and will update you as soon as I find a reasonable solution.


One really cool option for part of the process is Zodaka ( It’s accessable for both businesses and cannabis consumers. Almost like a paypal for the cannabis industry.

The podcast we sponsor just interviewed them and they break down how they help. They approach it in a unique way and have made a lot of headway in CBD and cannabis sales. Hope it helps.


Can confirm, Zodaka is the most legit option out there! We charge low rates, GUARENTEE you never get shut down on our system, and we NEVER hold any of your money. Give us a try, we won’t dissapoint.


What are your rates? Are all card types accepted? Can we take cards over the phone from our customers(card not present transactions)?


Shoutout to @dean-zodaka!


the ones that we have come across charge exorbitant rates. pure discrimination I say


Dear Ron,
We were saddened to hear your account was closed! Your story is repeated to us weekly!
As Chief Commercial Officer of First Merchant Bank Card Services my team has been supporting both the CBD and MMJ industry with a host of financial products which I proudly list below.
-Merchant Processing Gateway for Visa® and MasterCard® (not a PIN-debit solution)
-Special merchant account for NO THC CBD e-commerce sites
-FDIC bank account for those that have lost or unable to get a business bank account
-Instant Debit Solution for e-commerce merchants to allow customer to use their online-bank account to pay instead of a credit card wherein we are connected to over 85% of US banks and many foreign banks

If you email me directly at [email protected] I will personally expedite a solution for you.
Unfortunately the banking industry is presently terrified of providing services to the MMJ and CBD merchants, delivery services and even provided online banking.

But ultimately it is up to the financial institution to make that decision whether to support you or not. In time things will eventually change but for the moment we are pleased to fill the void.

This situation has unfortunately paved the way for numerous “grey” merchant solutions that are disguised to the acquiring bank and within 2-4 months are eventually closed with merchants even losing their reserve accounts or they are risky offshore solutions.
Most of our business is through referral sources as we carefully consider each potential merchant as a long-term client.

If you need us, we are here to help!

Steve Randall
Chief Commercial Officer
First Merchant Bank Card Services


shoot me an email [email protected] and I’d be happy to give you more information about our rates and services we can provide to you!


Your website won’t even open when i click on it.


Interesting. I just went and checked the link on GN and it opened. Try this:



I just tried the link and it worked. Very strange.


Link fixed thank you! The link function on the growers network had an issue. It should work now.


can you email me the info as well please?


shoot me an email at [email protected]


Hi Nick,

So Cybrswype has merchant processing services that are mobile payments. Without getting entirely technical in this one message, Cybrswype can offer full mobile payment services that would be no different in feeling than using apple pay to buy a cup of coffee at starbucks. And the merchant would be able to access fed banking.


I am working with a new Solutions, old bank for MMJ and CBD. Lower rates and no reserves! Excepting Debit Cards for MMJ, doesn’t take 6 weeks to get approved. Retail or online CBD credit card accounts. If I can be of any help, please contact me anytime.


Hey Everyone -

This is a major problem with many banking providers because

  1. any FDIC insured bank must risk losing its insurance coverage by covering a Schedule 1 product
  2. Most states restrict credit cards sales due to the FDIC issue
  3. Most banks won’t allow the deposits, due to the money laundering issue due to the Schedule 1
  4. FinCen still says no, unless you can prove no money laundering and no product loss and they approve the provider
    and the most important
  5. Violation of CC laws could cost you your license, depending on your state regulations.

That doesn’t mean there isn’t other options and more viable options. I have a direct broker i work with and he is the BEES KNEES! He brokers for hemp, CBD and Retail shops utilizing very specifically Debit cards and a direct relationship with a major Investment Bank who privately works with Visa and MC directly.

So do’t get fooled by a lot of CC companies who say they can get you approved, it is usually short-term, high % charge fees and very, VERY risky.

If you want a serious conversation about how we vetted and recommend legitimately, he is true to his word and if he can’t help you, he is honest, something we need more of in this industry.

Other options are Cashless Wallets (which are a pain for consumer), B2B or Bank funded options like PayQwick or GreenFund.

Personally, i can recommend a broker who will understand your business model and recommend the best options at real business %.

I can let you know his contact information if you are interested, just message me.



Yes, the bank we are working with is Compliant and working with Visa. I have been in this arena for 15yrs. and have gone threw the ups and downs with processing cards. This is a viable seed to sell equipment and customer service based merchant account. The broker is also close to the business and spent years developing system.

Anything I can help with please message me anytime.



Most local credit Unions are not FDIC insured and I’ve heard of some of the local ones here in Monterey County Ca. taking a few retail Cannabis delivery and physical dispensaries as business customers . We have one for payroll, but I have been told more then once to not mention who they are for some odd reason.