Cannabis & Hemp Banking Services
We have partnered with Safe Harbor Financial to offer compliance-first banking solutions for legal cannabis and hemp businesses. We began offering services through our Specialty Banking Program in 2019 to help provide marijuana and hemp businesses in Michigan with a safe banking solution for their deposit and transaction needs as an alternative to operating on a cash-only basis.
How We Can Help
Our focus is on developing trust and strong partnerships. We’ve developed customized approaches based on the type of business you have. From marijuana grow facility to cannabis dispensary, we can provide you with a solution to fit your needs.
Services We Provide
Simply fill out this form to let our team know you’re interested in learning more about our Specialty Banking services. We’ll be in touch with you as soon as possible to provide more information, and answer any questions you might have.
We teamed with Safe Harbor Financial to build our Specialty Banking Program around robust compliance. Our approach is to have a true partnership that focuses on transparency and an eagerness to learn more about the cannabis industry and each business. We’re committed to keeping our communities safe while being a resource for each of our partners.
How Safe Harbor Helps
About Safe Harbor Financial
Safe Harbor Financial is a service-based program that specializes in helping financial institutions provide business banking to cannabis-related businesses. With the guidance of Safe Harbor Financial, Honor has embraced the challenge of providing banking solutions in the cannabis industry.
Frequently Asked Questions
Fees are dependent on the type of business you have. Complete the Specialty Banking form and a specialist will reach out to you.
Yes. Once your business becomes licensed we will transition your account to the appropriate type.
Currently, our program works under a personal banker model. You will have a direct contact to a Specialty Banking team member for all of your account needs. This personal banker will also complete tasks like extra due diligence, collect monthly documents, and visit your business during on sites.
The representative from Safe Harbor Financial you work with will move at the pace you’re comfortable with. They will request information in phases to make sure you understand everything which is happening.
Cash deposit thresholds are in place to determine if your business requires a cash courier or not.
Absolutely! When you are working with our Specialty Banking team, simply let them know you’re interested in opening your own personal account and they can help you.