Cannabidiol oil (CBD or CBD oil) is a derivative of the cannabis plant. It’s extracted from low-THC strains of cannabis to form a non-psychoactive oil that can be stored in a stable way for accurate dosing. Unfortunately, Cannabis is still a Schedule I drug in the United States, which makes it federally illegal. Because of CBDs proven medical application, states are loosening restrictions, but it still becomes confusing on a federal level. Enter in the banking system, one that relies upon the Fed to move money and voila, we have a tenuous situation. The key is finding a bank that looks at CBD like any other product and has a risk appetite that will allow it. We can’t control what the Federal government says is legal or not legal, but we can control which banks we connect with our clients. With over 25 banks that we work with, we will place you with the right long-term partner for your business.
