Life Takes Visa—Except If You Want to Buy Pot

“Because of regulations that bar banks from doing business with drug traffickers, many financial institutions refuse to open accounts for dispensaries or give them small-business loans. The same goes for major credit-card companies like Visa and MasterCard. Merchant service providers—the middlemen between retailers and credit-card companies who process customers’ payments—are also reluctant to run afoul of the federal government, so most won’t accept payments from dispensaries. These restrictions force dispensaries to operate as cash-only businesses. Without a bank account, dispensary owners can’t deposit their money in a secure place or write checks to their landlords.”

http://prospect.org/article/life-takes-visa%E2%80%94except-if-you-want-buy-pot

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin