Cannabis Banking

Cannabis is now the third most valuable crop grown in the Central Coast; the cannabis industry employs tens of thousands from our area. These cash-intensive businesses remain unbanked and underserved, leaving large amounts of cash out in our communities.

The future of cannabis is clear: it will be one of the biggest industries in California and possibly in the country. Providing banking access to these entrepreneurs will help legitimize the industry and protect our communities.

To further our vision to “Cultivate Thriving Communities,” we have partnered with StandardC Inc. to provide commercial banking services to cannabis-related businesses in our community.

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Our Cannabis-related Business (CRB) banking program is designed to offer a suite of banking services that will help you grow and manage your business.

Cannabis Businesses We Serve

We serve cultivators, distributors, manufacturers, testing labs, and other cannabis businesses.

In an effort to comply with the strict regulatory requirements surrounding banking services for the cannabis industry, we have partnered with StandardC, which will help us achieve the efficiency and standardization we need to be able to provide services to this industry.

StandardC Membership: To become eligible to open an account with 1st Capital Bank, we require that you register your business as a member of StandardC’s platform. From there, you enter information about your business, beneficial owners, entity documentation, etc. The StandardC platform is where you will enter your vendors, perform ACH origination, and upload required documents.

Once approved, you are required to comply with the following requirements:

  • Provide 1st Capital Bank with your Point of Sale (POS) and/or Seed to Sale system records and to provide a METRC key
  • Arranging for cash pickup by our armored car service provider and providing the supporting invoices/documents to us by the 10th of each month for the previous month
  • Entering vendor information and providing invoices for all outgoing wires
  • Ensuring your balance is enough on any day of the month to cover your transactions and account fees

Failure to comply with these requirements may result in account closure.

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Seamless, Integrated Platform

Your business will have a seamless and integrated platform for deposit transaction monitoring and movement of funds as a result of our partnership with StandardC.

Treasury Management Services

You will be supported by a team of treasury management banking professionals providing, ACH credit origination, Positive “anti-fraud” Pay, remote deposit capture, online wire origination, and banking consultation.

24/7 Online Banking

You have access to your account(s) and the bank 24/7 throughout our web-based online banking portal. Our online mobile business banking provides additional access conveniently through your smart devices.

Armored Cash Services

We require the use of an armored car service to pick up all cash. This service protects your business and our personnel while ensuring your hard-earned cash is protected in transit with a fully bonded and insured armored courier. Part of our ongoing due diligence is to ensure we understand and can track ALL transactions running through these accounts and we do this by matching deposits and withdrawals with your sales activity. The armored car fees are debited from your account the day we receive the funds.

Multiple Businesses

If your businesses share one EIN number, you are welcome to run all transactions through one account. However, if you have multiple cannabis businesses, each with its own EIN, you will need to open an account for each EIN.

Business Debit Card

Manage your everyday finances with the convenience of a 1st Capital Bank business debit card.

All services subject to approval and certain restrictions may apply.

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Explore Your Digital Toolbox

Find the tool that fits your business needs. With convenient cash management options like business online banking, online wire origination, online ACH origination, remote deposit capture and positive pay, we put digital solutions at your fingertips.

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