Cannabis Banking
Experience the same reliable banking solutions you have come to know and trust, now with reduced fees.
As the cannabis industry continues to grow, we are thrilled to announce that we are now able to offer lower fees to cannabis businesses. As one of only six banks in the country serving the medicinal cannabis industry when it was first approved in New Jersey, we understand the unique challenges that these businesses face, and we are committed to supporting them in any way we can. Our team of professionals offer a decade of experience and expertise, and our Cannabis-related Business (CRB) banking solutions provide secure, reliable, and efficient banking for your growing business. Whether you are just starting out or looking to expand your operations, we are here to help.
We work with:
- Dispensaries
- Wholesalers
- Cultivators
- Testing labs
- Armored transportation
At Parke Bank, you will find:
Trust
Experience
Security
Frequently Asked Questions
Are banks permitted to work with cannabis-related businesses?
Though many banks may choose not to serve cannabis-related businesses (CRB), we are permitted to work with them. The SAFE Act, if passed, will reinforce this. (See SAFE Act FAQ below). Parke Bank is here to serve the needs of most businesses, and have already established relationships with many CRBs.
Does Parke Bank work with cannabis-related businesses in any state?
With locations in New Jersey and Pennsylvania, Parke Bank is ready and equipped to work with your business in both states. However, as cannabis-related businesses and laws continue to evolve, we may have the ability to grow with your business while maintaining compliance with appropriate state laws.
How can I start a banking relationship with Parke Bank?
One of our Parke Bank representatives would be happy to discuss the possibility of opening an account. Get in touch with us here >>
Does Parke Bank finance cannabis-related businesses?
We are willing to discuss the possibility, but due to the risk involved, cannot promise financing a CRB. Get in touch with us here >>
What is the SAFE Banking Act?
The Secure and Fair Enforcement (SAFE) Banking Act was introduced to Congress in May 2017, passed by the House in April 2021 and is currently pending being passed by the Senate. Specifically, it would prohibit regulators from barring banking institutions from offering financial services to cannabis-related businesses companies.
Business Banking Offerings
Request More Info