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.....

pfunk211 Reviewed by pfunk211 on 02-19-2010. diepensaries not taking credit/debit cards and checks 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..... Rating: 5

[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.