Hemp Friendly Banks?

To preface I live and operate In eastern North Carolina. I recently tried to open a business account with Wells Fargo (Don’t get me started on them) for my hemp business where I buy and resell hemp flower to local shops and directly to consumers. I was told that on top of a $75 monthly fee, there is roughly a 90 day waiting period for verification which I just can’t do as I’m starting to have sales coming in. I called first citizens who I know to be hemp friendly, but they said that there’s about a $125 monthly fee for hemp businesses, I’m just starting out so I’m looking to save anywhere I can.

Does anyone know of any hemp friendly banks without such high fee rates or is this just a standard for the industry? Also, I’m debating just opening a personal checking account with first citizen and once I get enough sales to comfortably cover the $125 fee, I’ll switch over to a business account. Is this a viable option? I’m fairly new to business and I’m learning on the go, so any advice would be very much appreciated!

submitted by /u/Potential_Tackle5000 to r/weedbiz
[link] [comments]

Published: 2025-04-16T17:53:20+00:00

Link: https://www.reddit.com/r/weedbiz/comments/1k0qsbx/hemp_friendly_banks/