Marijuana Stores And Dispensaries Get ATM Accounts Shut Down
Less and less Americans use cash. I used to live an ‘all cash’ lifestyle, but once I learned about the convenience of using a debit card, I quit stuffing my wallet full of cash when I would go out. If I need cash, I just hit up an ATM, which are everywhere these days. Unfortunately, this will no longer be an option at hundreds of medical marijuana dispensaries and recreational marijuana stores, as their ATM accounts have been abruptly halted. Per Marijuana Business Daily:
Hundreds of medical marijuana dispensaries and recreational shops across the country abruptly lost their cashless ATM accounts on Wednesday with no explanation, according to sources close to the situation.
One insider told Marijuana Business Daily that at least 300 to 400 shops were affected, and he warned that the number could double in the next few days.
Several sources who spoke about the situation asked not to be named, saying it could harm their businesses.
Has your preferred dispensary and/or recreational shop had their ATM accounts shut down? Why are marijuana industry businesses treated so unfairly compared to other businesses? Especially because those businesses are operating legally where they are located. Why does the financial sector try so hard to keep the marijuana industry an ‘all cash’ industry? The fact that these accounts were shut down with no warning, and no explanation is inexcusable.