Real-Time Cash Management for Cannabis Dispensaries
How it Works:
Dispensary owners can use this revolutionary solution to count, store and deposit cash payments in real-time.
We’ve built partnerships with top-tier banks to provide cannabis dispensaries with a secure, convenient method for accepting cash payments. With secure, cash storage and selected CIT (cash-in-transit) to the bank where we establish an account in your name, we are providing an end-to-end cash management solution for cannabis merchants..
Maverick Cash Vault Solution is an end-to-end cash storage banking remedy built for the cannabis and CBD industries.
The Challenge:
While cannabis is legal in many states, very few traditional banks offer basic services such as operating accounts to merchants in this space. Even fewer have taken the time to understand the unique business challenges, opting instead to ignore the industry altogether.
- The credit card associations have not allowed cannabis charges on their networks, leaving cash and debit as the primary options.
- Traditional brick and mortar banks are very cautious by nature and this has left merchants with few options to deposit their cash payments.
- In the instances where a cannabis merchant has been able to secure an operating account, transporting the cash has a number of security and safety risks.
The Solution:
We provide cannabis merchants with a secure vault that can store up to 10,000 bills, establish the operating account on the merchant’s behalf and arrange for cash pickups.
HERE’S HOW IT WORKS:
- Merchants deposit cash payments into the secure vault. This scans the bills in real-time and keeps them secure in a 350lb vault.
- Once per day deposits are calculated and an electronic transfer is sent to your operating account. Merchants have access to these funds immediately.
- As soon as your vault reaches 85% of capacity our system sends out notifications to schedule cash pickup. On-demand pickup is also available.