Cannabis Banking and financial services in

Access secure, compliant business banking and specialized financial services in Oklahoma City with Safe Harbor—the platform built exclusively for cannabis operators.

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d leader in cannabis banking and financial services in Oklahoma with more than $26 billion in funds processed since launching the nation’s first compliant program in 2015.

We serve Oklahoma’s legal cannabis community, including cultivators, processors, dispensaries, secure transporters, and testing laboratories, with full-service solutions built around licensed operators’ needs. Our foundation is in cannabis business banking, offering checking accounts, cash flow support, lending, digital payments, and mobile banking, all delivered with unmatched compliance expertise.

Beyond banking, Safe Harbor provides a full suite of financial services to help operators stay financially healthy and grow. These include back-office operations support, compliance and audit preparation, financial reporting, strategic advisory, and CFO-level guidance. Every service is designed to meet the regulatory demands and operational realities of cannabis businesses across Oklahoma.

Cannabis Legalization and Regulation in Oklahoma

Oklahoma has not legalized adult-use cannabis. Recreational possession, sale, and cultivation remain illegal and subject to criminal penalties under state law.

Medical cannabis was legalized in June 2018 through State Question 788, creating one of the most accessible medical programs in the country. Patients with a physician’s recommendation may possess up to 3 ounces of cannabis on their person, 8 ounces at home, 1 ounce of concentrates, and 72 ounces of edibles. Registered patients may also cultivate up to six mature plants and six seedlings for personal medical use.

The Oklahoma Medical Marijuana Authority (OMMA), under the Oklahoma State Department of Health, regulates licensing for patients, caregivers, dispensaries, cultivators, processors, and testing laboratories. The state initially saw rapid growth, with thousands of licenses issued, leading to oversupply and enforcement challenges. In response, Oklahoma implemented stricter rules in 2022 and 2023, including a moratorium on new business licenses to stabilize the market and improve compliance oversight.

Hemp and hemp-derived CBD products are legal if they contain no more than 0.3% THC. Intoxicating hemp cannabinoids such as delta-8 THC are restricted and regulated under the state’s cannabis framework when sold for human consumption. All products must meet state testing, packaging, and labeling requirements.

For cannabis operators, Oklahoma remains a large but volatile medical market. Banks and financial service providers require strict compliance documentation, including license verification, ownership disclosures, tax IDs, operating agreements, and financial statements. Given the cash-heavy nature of the market, businesses must establish secure armored transport, reconciled deposits, AML/BSA monitoring, and audit-ready accounting systems. Compliance with state tax reporting and remittance requirements is also critical to maintaining banking relationships.

The Oklahoma Medical Marijuana Authority regulates the state’s medical cannabis program. For official program information, licensing resources, and compliance updates, visit:
https://oklahoma.gov/omma

Frequently Asked Questions

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