Cannabis Banking in St. Paul, Minnesota

Access secure, compliant business banking in Minnesota with Safe Harbor Financial—the platform built exclusively for cannabis operators.
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Safe Harbor Financial is the established leader in cannabis banking, with over $25 billion in funds processed since launching the nation’s first compliant program in 2015.

We serve Minneapolis’s legal cannabis community—including dispensaries, cultivators, manufacturers, and hemp businesses—with full-service solutions: checking accounts, cash flow support, lending, digital payments, and mobile banking. Every service is built to meet the regulatory demands and operational needs of licensed operators across Minnesota.

Minnesota 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 Minnesota

Minnesota legalized adult-use cannabis in 2023. Personal possession and home cultivation are allowed, and the Minnesota Office of Cannabis Management (OCM) is actively developing the framework for a regulated commercial market.

Adult-use business licenses will be issued through a phased approach, starting with a social equity lottery, followed by general licensing. Medical cannabis remains legal and operational. Minneapolis is expected to be a central hub for new cannabis businesses, with opportunities across the supply chain.

Whether you’re applying for a license, expanding your footprint, or transitioning from hemp or medical operations, financial compliance is essential. Safe Harbor Financial supports cannabis and hemp operators with secure banking services—checking, lending, payments, and mobile tools—backed by over $25 billion in processed funds and a decade of industry experience.

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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.