Safe Harbor delivers advanced financial services through local, highly experienced private bankers who understand your specific needs and guide you to the right financial services.
With CRBs from the Beginning
In 2015, Sundie Seefried, founder and CEO, established Safe Harbor to provide cannabis businesses a secure place to bank and a meticulous process to assure funds legitimacy. Today, Safe Harbor Financial manages over 500 cannabis banking accounts and has processed $8+ billion since inception.
Unlike many in the financial world, Seefried embraced the challenge, designing and building a full-scope cannabis banking program that
has withstood the scrutiny of federal and state regulators, succeeded financially and most importantly, made communities safer.
SAY IT BEST
Services & Benefits
Banking over $200 million per month for cannabis, hemp, CBD and ancillary businesses, our tailored services and long-term expertise make us the perfect fit for you. We have what you need to succeed!
Services designed to meet your unique needs
- Business checking and saving accounts
- Increased safety and security
Armored carrier and vaulting services for daily cash deposits.
- Cash managements accounts
- 24/7 account access
Free online and mobile banking, plus mobile check deposits.
- Savings and investment options
From simple savings accounts to money markets and CDs, we offer the resources to make your money grow.
- Commercial lending
One of the few mainstream financial institutions providing lending services to the cannabis industry!
- Electronic federal and state taxes
Ability to pay your federal and state taxes electronically and negate IRS penalty for paying with cash.
The benefits of banking with us
- Run your business more efficiently and effectively
- Enjoy increased safety and security
Deposit your daily receipts
- Reduce risks associated with large amounts of cash on hand
- Create a safer atmosphere for your employees, your customers and the surrounding communities
- Increase visibility into daily operations
- Access resources needed to grow your business
- Remote deposit services
Allows you to deposit checks without having to visit the branch or send by mail
- Automated Clearing House (ACH)
Transactions and domestic wire services
Frequently Asked Questions
Below you’ll find answers to the questions we are asked most often about cannabis business banking with Safe Harbor. If you don’t find the answer here, use the form below to ask another.
- How long have you been banking the Cannabis Industry?
- We started our program in January, 2015 with 10 test clients. Now in our 7th year, we now have over 500 accounts and are growing by 15 new ones per month.
- Can deposits only be made in person?
- While we do take deposits at the Safe Harbor Branch in an emergency, we require clients to obtain carrier services from one of our vetted vendors.
- Do you offer loans?
- We offer commercial real estate loans for clients who have been with Safe Harbor for at least one year, as well as home mortgages for cannabis business owners.
- How long does opening an account take?
- Two to three weeks on average based on the complexity of the company.
- Are we still part of the Credit Union?
- Yes! Your accounts are held at Partner Colorado Credit Union and will be insured through the NCUA Share Insurance Fund.
- Do I need to do the Third Party Compliance Audit even though I’m audited by state and local agencies as well as the Marijuana Regulatory Agency?
- One of our basic compliance requirements is that each “license type” needs to be audited by an approved independent audit firm. However, we do make exceptions to accept state and/or local agency audits on a case-by-case basis.
- Can I view all my business accounts under one online banking profile?
- How long do I have after account opening to complete a Third Party Compliance Audit?
- We prefer a 3rd Party audit prior to opening, but it is mandatory within 45 calendar days of opening.
- Can I give crucial employees “view only” access to online banking?
- Can I make deposits at a shared branch location?
- Checks only, no cash deposits allowed.
- Do you offer Treasury Services with an automatic minimum balance sweep?
- Not at this time, but we are working on offering this service in the future.
- Can I use Safe Harbor’s Bill Pay feature to pay other cannabis entities?
- How do your fees compare to other programs with similar services?
- We strive to be customer centric and charge fees in accordance with the risk of providing such services and products. Our fees are designed to be competitive and we actually lowered fees for cannabis clients as of January 1, 2021.
- Am I required to provide statements existing external bank accounts?
- Due to the rules and regulations governing services provided to the marijuana industry, it is necessary for us to collect external bank statements from accounts that will have any involvement of funds being transferred.
We walk you through the process and help ensure we have all the information needed to quickly get you registered and on to the interview stages. The decision is not instantaneous, but by streamlining initial steps with our proprietary software, we reduce your processing time considerably. Here is the three-step process to establish your banking relationship with Safe Harbor Financial:
Documents You May Need:
- Any business documents including your bylaws or operating agreement
- Your IRS EIN Certification Letter
- Your marijuana license or certificate and a copy of the complete application you provided to become a licensee
- Your photo ID and a personal resume telling us about yourself and your past work experience
Documents You May Need:
- Sales records for the last six months
- All state reporting and tax records
- Internal POS system records
- Investor information (include names of all investors, subscription agreements and your vetting process)
- Bank statements for any accounts that may contain money from your CRB. This includes personal and business accounts
Financial Institution Partnership
- Face-to-face interview
- Site visit of your business location(s)
- Completion of a Funds Inventory Log
- Review of rules and fees associated with your new account
- Review of cannabis specific guidelines
- Signature card
- Initial deposit