diepensaries not taking credit/debit cards and checks

[pfunk211]

did i overhear this correctly?

banks will not allow dispensaries to collect payments in form of debit/credit or checks because the federal government threatened to take away the banks federal insurance if they do so?!

that's fucked up, man.....

[denverbear]

last time I bought some medicine at c3 they took my card..

[pfunk211]

i used my card at the dispensary today, too.
they said that the changes were coming soon.....

[stra8outtaWeed]

like a person would not stop at the ATM before he went to the dispensary...whats the difference...when are the asshole politicians going to get it.:wtf:

[TheReleafCenter]

We accept Visa/MC/Discover. Our last CC processor dropped us because we were ringing too much. They accused us of not providing just MMJ. Not sure wtf that means.

Most dispensaries use Wells Fargo because they were working with dispensaries. As of February (I believe) they stopped because they are federally insured. We still have an account with them.

CTI is trying to compile a list of MMJ friendly banks, so if you know of one or need one, email them.

[Delta9Caregivrs]

LoL i gotta good one for ya...

Delta9 credit card processing has been an absolute nightmear...

1st merchant Account:
Set up very easy and rather than lease the terminal I was able to find a nice cheap used one.. After 3 weeks of solid taking cards the Securities division of the NY bank called and say we are terminating your merchant account because it violates federal law.. Fine. BUt heres the kicker they kept over $1800 in charges (3 days) that they wont pay me for! Lawsuit pending

2nd Merchant Account:
After getting burned I was very leary of merchant accounts that used banks not in medical states so I went with a local CO company and local bank branch (US BANK) After 3 weeks of waiting for my application to go through re-progaming my equipment, and promising customers its coming they told me NO more dispensaries and that they were closing all open dispensary merchant accounts. Great Only $150 lost here to application fees and who knows how much in lost revenue?

3rd Merchant Account
Im beyond pissed at this point so I tell a local salesmen to come pick up my machine and set up my account with his local co dispensary merchant company... worst rates I've ever seen on charges. no debits. this merchant account is primarly used the the adult entertainment indusrty... Im not doing anything shady to deserve these prices... only to find out that I must have a co-signer on this application even though my credit is good. Guy keeps my machine for 3 weeks doesnt answer my calls about me need my equipment back, then leaves it on the front door on broadway in a paper bag sometime early AM? lucky that didnt get stolen... Later sketchy

4th Merchant Account
Cali guys calls the shop on a cold call and says I bet I can beat yr current credit card rates... I laugh and say I bet you can cause Nobody seems to want my business.. 48hrs later everything is set up and running smooth... This merchant account is from Cali and specializes in dispensaries. so far so good just sucks I cant keep my money local to help stimulate our own economy?

The problem with merchant accounts is the people trying sell them to you will set them up as retail sales shop instead of medical centers.. they know they are fibbing on the application and in most cases have gotten a couple through this way.. well the securities division underwriter getts the account on his desk in ab 3 weeks and googles the store name.. THATS A WRAP shut it off lucky if they even give you the money they still owe you.

Banks are another story... we have one and thats all I wanna say.. I've only been able to fine ONE bank out of dozens that would take my business account.

ATM is on site at delta 9 also and that was pain free.. shoot that guy pays me to hav it in there..

Just my short story of how big business is looking to rip off medical marijuana

J
D9

[MEDEDCANNABIS]

i knew something like this would happen. they will keep finding loopholes to shutdown the industry becauase you know it is bad for you.

meded so you can mededicate to mededitate

[lampost]

Kinda off-topic but I hate when dispensaries have a really blatant name ring up on your credit card. Most of them are somewhat discrete or vague, like Delta9 or Colorado Care, etc.

However, I went to One Brown Mouse and got a charge on my card for "Cannabis Healing Center" or something! C'mon man! That's going to look great when they're reviewing my account for a credit increase!

I wish some stores could be more discrete. If I knew that was the charge name I wouldn't have charged there. Oh well! Its my bad. I've become too complacent. I guess I need to ask what it rings up as.

[MEDEDCANNABIS]

Kinda off-topic but I hate when dispensaries have a really blatant name ring up on your credit card. Most of them are somewhat discrete or vague, like Delta9 or Colorado Care, etc.

However, I went to One Brown Mouse and got a charge on my card for "Cannabis Healing Center" or something! C'mon man! That's going to look great when they're reviewing my account for a credit increase!

I wish some stores could be more discrete. If I knew that was the charge name I wouldn't have charged there. Oh well! Its my bad. I've become too complacent. I guess I need to ask what it rings up as.

sounds like it wont be an issue before long

meded so you can mededicate to mededitate

[Klonzinc]

Just a thought, all disp. get an ATM, close the bank accts. and go back to cash only. Corporate America and Uncle Sam do not desrve our money.

[Adamkadmon]

Just a thought, all disp. get an ATM, close the bank accts. and go back to cash only. Corporate America and Uncle Sam do not desrve our money.


/signed

[TheReleafCenter]

Just a thought, all disp. get an ATM, close the bank accts. and go back to cash only. Corporate America and Uncle Sam do not desrve our money.

If dispensaries started doing all of their payroll in cash... we wouldn't have dispensaries for much longer. We work with plenty of local companies that ask for credit cards, too.

[Adamkadmon]

If dispensaries started doing all of their payroll in cash... we wouldn't have dispensaries for much longer. We work with plenty of local companies that ask for credit cards, too.

Yeah, good point. But I do have to say...who even uses checks anymore? ;)

[CannnaLady]

one of the dispensaries i went to said that they had wells fargo-but wells fargo said they may drop everyone, so they didn't want to sign a contract with a merchant account just to get dropped by the bank and not beable to use it.

[GratefulMeds]

We have never had a problem and we are on our 2nd processor, they are now actually starting to compete for business, six months ago that was not the case.:stoned:

[Options]

I wanted to jump on here, and introduce our business, and what better of a thread to do it in then the one dedicated to getting turned away from processors!
We are Options Processing, and we are dedicated to serving dispensaries EXCLUSIVELY. We are only working with MMDs, thus the banks working with us are very aware of that fact. Please send me a PM, or visit our site at Options MMD Credit Card Processing (http://www.mmdcreditcardprocessing.com) for more information. Let us know if you got turned away or burned by your current processor, and we will do everything in our power to get you back up and running within 24-72 hours.

[puremmj]

We opened our doors with no problems. we accept all forms. Visa,MC,DIS,AMX

We use one of the largest Authorization company's in the US for our transactions.

Authorize.net

Its my understanding that the card being used must be physically present and swiped in order to stay in compliance. If a card is keyed in manually. the transaction is routed in a non approved way. This pertains to our situation, and may not for all merchant accounts.

Sucks if we lose the net we can't process cards. not even using a manual analog swipe machine.

Frank

[copobo]

there are cellular based routers that work with Verizon which aren't too expensive. It's really dumb to be in retail and have just one Internet connection for payment processing. You'll call your ISP and tell them your connection is down and your business depends on it, and they won't care unless you have a business class service, like a t1 or better. You'll be one of many with the same issue, waiting.. unable to do half or more of your business.

You could also install cable if you already have dsl, or visa versa. Don't get 2 DSL lines, as they will both go through Qwest in the last mile.. (in 99% of Colorado).

[greenlight10]

We accept Visa/MC/Discover. Our last CC processor dropped us because we were ringing too much. They accused us of not providing just MMJ. Not sure wtf that means.

Most dispensaries use Wells Fargo because they were working with dispensaries. As of February (I believe) they stopped because they are federally insured. We still have an account with them.

CTI is trying to compile a list of MMJ friendly banks, so if you know of one or need one, email them.

Greenlight Payments, Inc is and has always been Collective friendly. If your dispensary needs a merchant account to process credit or debit cards we can sign you up. Our bank is MMJ friendly & Greenlight Payments, Inc will approve your collective.

1.800.448.2038 X 105

[GratefulMeds]

Greenlight Payments, Inc is and has always been Collective friendly. If your dispensary needs a merchant account to process credit or debit cards we can sign you up. Our bank is MMJ friendly & Greenlight Payments, Inc will approve your collective.

1.800.448.2038 X 105

TCF Bank
United Merchant Services
MSI
:thumbsup::thumbsup::thumbsup:

[rkaluhioka]

We are a consulting firm that specializes in payment processing for dispensaires. For more information, please contact [email protected]

[MichaelRupkalvi]

The Transaction Group has been helping more medical marijuana dispensaries accept credit cards. If you are having problems getting accepted or have lost your provider remember us.
Marijuana merchant account (http://www.thetransactiongroup.net/medical-marijuana-merchant-accounts/)stipulations:
- retail locations only
- no eCommerce or mail/phone transactions
- products being sold must be herbal supplements

If you have any questions about a medical marijuana merchant account or would like to begin the application process, there are 3 ways to do so:

please call us at 877-238-3525
email us at [email protected],
or if you prefer, you can contact us (http://www.thetransactiongroup.net/high-risk-form) here.

[ElevateOrganics]

The Transaction Group has been helping more medical marijuana dispensaries accept credit cards. If you are having problems getting accepted or have lost your provider remember us.
Marijuana merchant account (http://www.thetransactiongroup.net/medical-marijuana-merchant-accounts/)stipulations:
- retail locations only
- no eCommerce or mail/phone transactions
- products being sold must be herbal supplements

If you have any questions about a medical marijuana merchant account or would like to begin the application process, there are 3 ways to do so:

please call us at 877-238-3525
email us at [email protected],
or if you prefer, you can contact us (http://www.thetransactiongroup.net/high-risk-form) here.


Herbal Supplements >>> Sounds shady. What do you categorize the type of business on the application as? To all MMC's trying to get a bank or CC processing through the backdoor or deceptively will only hurt you and our industry in the long run. Anytime you apply for these services make sure you apply as a MMC not pharmacy, floral shop, supplement shp, etc...
L

[TheReleafCenter]

Herbal Supplements >>> Sounds shady. What do you categorize the type of business on the application as? To all MMC's trying to get a bank or CC processing through the backdoor or deceptively will only hurt you and our industry in the long run. Anytime you apply for these services make sure you apply as a MMC not pharmacy, floral shop, supplement shp, etc...
L

Yeah, that's not legal.

[GratefulMeds]

did i overhear this correctly?

banks will not allow dispensaries to collect payments in form of debit/credit or checks because the federal government threatened to take away the banks federal insurance if they do so?!

that's fucked up, man.....

we still take cards so I believe it depends if your provider has any stones or not.:thumbsup:

[MichaelRupkalvi]

Herbal Supplements >>> Sounds shady. What do you categorize the type of business on the application as? To all MMC's trying to get a bank or CC processing through the backdoor or deceptively will only hurt you and our industry in the long run. Anytime you apply for these services make sure you apply as a MMC not pharmacy, floral shop, supplement shp, etc...
L

The accounts are written up as medical marijuana dispensaries on the merchant application so there is nothing shady about it.

To that point don't ever sign a merchant application if the type of business listed on it is not exactly what you do.

We've set up a lot of dispensaries that were shut down for that exact reason. The account was set up fraudulently, once the bank found out exactly what was being sold that shut the account down.

Our processor is one of the few ones out there that handle underwriting & risk management under one roof, This means we don't have to worry about a banks board of directors changing their mind on mm processing.

for more info:
Medical Marijuana Merchant Accounts | Cannabis Credit Card Processing (http://www.thetransactiongroup.net/medical-marijuana-merchant-accounts/)
Medical Marijuana Merchant Accounts for Dispensaries (http://www.medicalmarijuanamerchantaccounts.com/)

[SoCoMMJ]

Not to pimp them out, but Colorado Springs State Bank handles MMJ checking, savings, accounts as well as awesome Credit Card processing. One of the few in the state.

TT Dustin, the VP there...

[adkben]

We opened our doors with no problems. we accept all forms. Visa,MC,DIS,AMX

We use one of the largest Authorization company's in the US for our transactions.

Authorize.net

Its my understanding that the card being used must be physically present and swiped in order to stay in compliance. If a card is keyed in manually. the transaction is routed in a non approved way. This pertains to our situation, and may not for all merchant accounts.

Sucks if we lose the net we can't process cards. not even using a manual analog swipe machine.

Frank


Auth.net dropped us at The Village Green Society. Were on our 2nd and its super finnicky (sp?) when it accepts/declines cards. I think non-center shoppers would be suprised to know just how many people pay with CC or debit card. I bet we are nearing 50% of our daily transactions are card (maybe even 60%)

[PainlessProcess]

Authorize.net is just the gateway that allows you to put the payment transaction thru. They can't drop you unless you don't pay their monthly fee. Your processing bank can drop you and thus leave you unable to process credit cards using authorize.net.. If you or anyone else on this thread is still having difficulties with payment solutions, we have domestic processing solutions.

[rapidfinance]

Authorize.net is just the gateway that allows you to put the payment transaction thru. They can't drop you unless you don't pay their monthly fee. Your processing bank can drop you and thus leave you unable to process credit cards using authorize.net.. If you or anyone else on this thread is still having difficulties with payment solutions, we have domestic processing solutions.

Actually this is not true. They will drop you if they discriminate against your industry.

It happened to me. No notice, so I had no backup.

Thank gawd I found a good gateway that doesn't discriminate.

Oh & even many people in mainstream industries don't like Authorize.net.



Michelle

[rapidfinance]

So I just wanted to check in to see if everyone who had merchant account processing a year or two ago still has it after July 1st.


Michelle