Minneapolis Cannabis Banking

Become a member of an industry-leading institution for marijuana and hemp banking in Minneapolis. We’re ready to guide your business through regulatory hurdles and deliver bespoke banking advice.
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Navigating through the cannabis industry’s legal hurdles and regulatory challenges is difficult for aspiring cannabis-related businesses. In Minnesota, that’s particularly true, with cannabis legal solely for medical use except for hemp-derived food and beverages. With no major financial institutions catering to the industry – due to federal prohibition – what’s needed is a reliable and reputable cannabis bank to assist.

Safe Harbor Financial stepped into this role in 2015. After seeing the nascent cannabis industry struggle to access financial services, we’ve spent the past seven years creating a range of much-needed financial services with a proven track record of success.

We’ve processed more than $12 billion in cannabis-related funds, managed nearly 600 accounts, and operated in 20 states. Our Minneapolis cannabis banking services include checking and savings accounts, online banking, consumer payments, electronic tax payments, direct deposit payroll, and more.

Speak to our team about becoming a member today – we’re ready to transform your business.

Minneapolis cannabis banking services

Through our tireless support of the cannabis industry, we’ve earned a reputation for high-level regulatory compliance. Whether it be liaising with regulators, legislators, and law enforcement or reviewing the latest guidance, we ensure our members receive up-to-date advice. When you become a member, you’ll gain access to all our services, including:

Checking and savings accounts
Online banking with 24/7 account access
Consumer payments
Electronic tax payments
Cash management accounts
Cash pick-up and delivery services
Investment options
Employee accounts
Direct deposit payroll
ACH payments and origination options
Wire Services
Financing

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Elevate your business with marijuana banking in Minneapolis

Lying in the heart of Minnesota, the “twin cities” of Minneapolis and Saint Paul are the state’s principal economic and manufacturing centers. With a large population, a university campus, and numerous parks and wetlands, Minneapolis is perfectly positioned to take advantage of the liberalization of the cannabis industry.

Except, under the current laws, only the medical use of marijuana is legal in the state – alongside the recreational use of hemp-derived food and beverages. While that doesn’t open the door to the full economic opportunities of the cannabis industry for cannabis entrepreneurs and businesses, the rules leave ample room for growth and expansion.

What’s needed is a cannabis financial institution experienced in charting a course through complex laws and regulations. That’s where Safe Harbor Financial comes in. Having operated in 20 states, we’re familiar with the specifics of laws across the country; and we know how to help our members adapt quickly as laws change and evolve.

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Open your account today to elevate your success!

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Frequently Asked Questions

How do I apply to join Safe Harbor Financial? +

Please submit an application via our website. There are three simple steps: (1) submit your application, (2) we’ll perform a document check and due diligence, and (3) we’ll conduct an interview, site inspection, and in-depth business review.

When you submit your application, please remember to include the following documentation:

All business documents (including bylaws and operating agreement)
Your marijuana license or certificate and a complete copy of your license application
Your IRS EIN Certification Letter

For any further questions about Safe Harbor or the application process, please get in touch with our team.

Why is cannabis banking in Minneapolis important? +

Running a cannabis-related business means following the letter of the law. Given the current legal status of cannabis in the state of Minnesota, businesses need reliable information and guidance to ensure they operate 100% legally. What’s more, discussion regarding future legislation means new opportunities may soon open for cannabis-related businesses. Without access to basic financial services, businesses will struggle to capitalize on any future legalization.