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Utah Cannabis Banking

Empowering the Industry with Utah Cannabis Banking Solutions.

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Welcome to Safe Harbor Financial, one of the leading banks in the US. Safe Harbor has been at the forefront of Utah cannabis banking, providing reliable services to CRBs across the country since 2015. 

With over $12 billion in cannabis-related funds processed, nearly 600 accounts managed, and operations in 20 states nationwide, We are established as a trusted partner for this industry.

We understand the unique challenges faced by CRBs in navigating the complex banking landscape. Traditional financial institutions are often reluctant to work with the marijuana industry, leaving many businesses without access to basic services.

We offer a full range of services specifically designed for cannabis banking in Utah and the industry. Our services include checking and savings accounts tailored to meet the unique needs of cannabis-related businesses (CRBs), online banking with 24/7 account access, personal financial advisors, and more.

Our mission is to provide a safe and secure solution for this industry so that CRBs can focus on what they do best — growing their businesses. With us, you can have peace of mind knowing that your funds are safe, secure, and accessible at all times.

So why wait? If you’re a CRB in Utah, take the first step towards comprehensive services. Contact us today and see what we can do for you!

Utah Marijuana Banking Services

Safe Harbor Financial offers a comprehensive suite of banking services designed specifically for the marijuana industry. Our services include:

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

Our expert team is here to help you manage the complexities of the banking landscape, so you can focus on growing your business.

Don’t let limited options hold you back. Contact us today and find out how we can help you achieve your financial goals!

Marijuana and Hemp Banking in Utah: Current Rules and Regulations

The state of Utah has established specific laws and regulations governing cannabis banking. CRBs must understand the rules and regulations to navigate the hemp industry effectively.

Currently, marijuana is illegal for recreational use, although medical marijuana was legalized in November 2018. 

In Utah, the Department of Financial Institutions supervises and regulates financial institutions, including cannabis banks. The agency ensures that all financial institutions operate safely, soundly, and in compliance with state and federal laws.

To provide Utah hemp banking services, we follow all applicable state and federal laws, including the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. Our strict compliance program is designed to detect and prevent illegal activities such as money laundering and fraud, ensuring our clients’ funds are always safe and secure.

Our experienced team can deliver reliable, accurate advice on this novel sector of this industry. 

If you’re a CRB in Utah looking for a reliable and compliant partner, Contact us today to learn more about how we can help you achieve your financial goals!

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Open your account today and take your cannabis business to the next level!

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Frequently Asked Questions

How do I join Safe Harbor Financial’s marijuana banking in Utah? +

Legal and legitimate CRBs are welcome to submit their applications via our website. Please complete the following steps:

  1. Submit your application
  2. Document check and due diligence
  3. Interview, site inspection, and in-depth business review

We also ask you to submit the relevant documentation when applying:

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

Please get in touch with our team for any further questions about Safe Harbor or the application process. 

Do you have a loan program? +

Yes. Our generous loan program, specifically designed to support businesses in the Utah cannabis banking industry, is available to all SHF members through their advisors.

We prioritize the processing of applications within 30 days of receiving all relevant documentation. See our loan application page for further information.

Do you serve all types of marijuana-related businesses? +

Yes. SHF is open to all businesses struggling due to federal prohibition. We’re here to help the following sectors: 

  • Growers, manufacturers, and CBD extraction
  • Cannabis biotechnology firms
  • Dispensaries and retailers
  • Cannabis associations
  • Service companies
  • Cannabis industry consultants
  • Landlords and ancillary