Table 7 Banking and cash difficulties for the industry as reported by cannabis-related business owners

WACRB1

• Bank is long-distance drive

• Safety/security issues

• Have had accounts closed

• High fees

• No credit cards

WACRB2

• Have had 2–3 accounts closed

• Significant reporting requirements/bank audits

WACRB3

• Bank is long-distance drive

• High fees

• Difficult to keep cash records

• Closed bank account and went back to all cash

WACRB4

• High fees

• Safety/security issues

• Have had 3–4 accounts closed

• Use multiple accounts/management company for bank account

WACRB5

• Have had 3 accounts closed

• Pay as much in cash as possible

• Save up $20s and drive them to pay IRS in cash

• Use management company for bank account

COCRB1

• Have had multiple accounts closed

• Bank is long-distance drive

• Hard to pay taxes without bank account

COCRB2

• High fees

• Significant reporting requirements

• Bank is long-distance drive

• Safety/security issues

COCRB3

• High fees

• Significant reporting requirements

• Have had multiple accounts closed (even employees’ personal accounts were closed)

COCRB4

• Have had account closed

• High fees

• Use multiple accounts/management company for bank account

COCRB5

• High fees

• Pay as much in cash as possible

• Difficult to keep cash records

• Bank “ignores” the type of business/turns a blind eye