Cannabis Business Banking in Montana

The Division of Banking and Financial Institutions, led by the Commissioner, oversees state-chartered financial entities.
Operations are guided by the Montana Administrative Code.
Federal cannabis prohibition creates significant challenges for banks serving cannabis businesses.
Financial institutions must collaborate with state regulators to address these challenges.
Guidance from the Attorney General is often necessary to navigate the complex legal framework.

Banks, Credit Unions, and Fintechs that offer banking services to Cannabis, CBD, and Hemp Businesses in MT	Type of Financial Institution
Amalgamated Bank	Bank
Bank of the Rockies	Bank
BlueSky Bank	Bank
Chase (CBD Only)	Bank
Farmers State Bank	Bank
Green Check	FINTECH
Herring Bank	Bank
Native American Bank	Bank
Safe Harbor Financial	FINTECH

Are you a Montana-licensed financial institution providing banking services to cannabis-related businesses? Request to be listed .

Contact a Banker To Discuss Your Business Needs

Enhanced Due Diligence: Verify state licensing, ensure compliance with Montana cannabis laws, and monitor for suspicious activities.
Suspicious Activity Reporting (SAR): File SARs for transactions potentially linked to illegal activities due to cannabis's federal status.
Compliance with State Regulations: Ensure CRBs meet licensing and operational standards set by Montana’s Cannabis Control Division.
Risk Management: Implement strategies to address legal and reputational risks unique to CRBs.
Audits and Monitoring: Conduct regular account reviews to detect and report unusual activities, ensuring compliance.

Type	Description	Common Use Cases	Challenges
Cash Transactions	Payments made in physical currency.	Frequently used in dispensaries and shops lacking traditional banking services.	Security risks, storage, and logistical issues with handling large cash volumes.
PIN Debit Transactions	Allows customers to use debit cards, mimicking an ATM withdrawal.	Provides a cashless option for in-store transactions.	Requires specialized POS systems and may incur higher transaction fees.
ACH and eCheck Payments	Bank-to-bank electronic transfers for purchases.	Often used for online sales or large wholesale orders.	Processing times can be slower, and customers need to provide banking details.
Specialized Payment Processors	Third-party providers offering tailored payment solutions for cannabis-related businesses.	Widely adopted by businesses needing credit card processing or secure cash management.	Fees may be higher due to the high-risk nature of the industry.
Prepaid Cards or Wallets	Customers use preloaded cards or digital wallets to make purchases.	Increasingly popular for customer convenience and security.	Limited adoption and potential complexity in setting up the systems.