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Big Banks Shun B.C. Cannabis-sector Entrepreneurs

Big Banks Shun B.C. Cannabis-sector Entrepreneurs

Legal marijuana sellers also face higher rates to process debit transactions.

It is more than four months since Canada legalized recreational cannabis but entrepreneurs acting within the law in that sector continue to face hurdles and discrimination when looking for a financial institution.

“It’s very frustrating,” said aspiring cannabis-sector entrepreneur and Phytron Technologies Inc. CEO Bob Potter. “How can companies attract outside money if they can’t deposit it in a secure financial institution? Do they keep the cash in a shoebox under the bed?”

– Read the entire article at Richmond News.

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