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As a trusted partner, we offer innovative and secure solutions tailored to the unique needs of cannabis businesses. When you choose Prism as your cannabis banking partner, you're choosing a reliable, compliant, and cutting-edge solution for your cannabis business. Select Prism as your cannabis banking partner and find an innovative, secure banking solution for your cannabis business.
Prism Bank is committed to providing exceptional banking services that cater to the specific needs of the cannabis business. Through strategic investments in technology and partnerships, we ensure that our banking services are safe, reliable, and fully compliant with both federal and state regulatory guidelines. Our goal is to empower cannabis businesses with the financial tools they need to thrive in a rapidly evolving industry.
Our Cannabis Banking Program aims to be a part of sealing legitimacy within the cannabis industry.
At Prism Bank, enjoy:
CEO of Shield Compliance
Manage your business finances efficiently with our secure business checking accounts. Deposit and withdraw funds, make electronic payments, and enjoy seamless financial management.
Stay on top of your financial obligations with our automatic debit features. Pay vendors and recurring bills promptly, ensuring smooth operations for your cannabis business.
Streamline your payroll process by utilizing our accounts tailored for employees of cannabis businesses. Simplify payroll origination and ensure your team is taken care of.
Deposit checks from the convenience of your own space. Our remote deposit capture feature makes banking hassle-free and efficient.
Access your accounts and manage your finances on the go. Our user-friendly online banking platform, coupled with a mobile app, provides you with real-time control over your finances.
Our commitment to compliance extends to your business. Receive your own Client Profile within Shield Assure, our compliance software. This tool helps streamline regulatory compliance for your cannabis-related business (CRB) account.
Many states have legalized cannabis for medical or recreational use, but federal regulations still consider it illegal. Banks operate under federal oversight, resulting in hesitation of banks servicing cannabis businesses. This further supports why Prism selected Shield Compliance as an advanced way to manage compliance involved with cannabis business related accounts.
Yes, all business accounts are FDIC-insured. Our stringent adherence to regulatory expectations ensures safety and security for your cannabis business's banking needs.
Yes, due to heightened risk and compliance requirements, there are additional account maintenance fees. Reach out to our CRB support staff for information on potential multi-license discounts.
At this time, Prism does not provide lending services to the cannabis industry.
We simplify compliance by onboarding your bank account and compliance profile simultaneously. Once you onboard as a CRB client, a Shield Assure client profile will be created for your business that will send you case alerts such as when a license/permit/or expiring document/state filing is needing to be renewed or will soon expire, or the CRB business’ METRC API key.