Merchants looking to integrate credit card processing into their CBD business.
Providing merchant accounts for high risk CBD businesses. They pride themselves as a boutique styled processor who builds individual, long-term relationships with each of their clients.
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 1.5% + $0.08
Keyed-in Rate: 1.5% + $0.08
Early Termination Fee : Undisclosed
Todd Finis is listed as the CEO.
The company is located in Oak Park, California.
Works exclusively with CBD businesses.
While CBD Merchant Account only works with CBD businesses, they advertise that there are multiple forms of merchants under that umbrella. From vape to oils, to dispensaries, if the business touches on CBD they will provide a merchant account.
They make the promise to connect each client with the proper bank to fit their needs. The opposite is usually the industry standard.
Their approach to each client may just work. Their parent company has had no customer complaints in the past 36 months and is in good standing with the Better Business Bureau. However, CBD Merchant Accounts has no file with the Better Business Bureau.
Oak Park, California
Merchant Provider Risk Tolerance
Hardware and Software
CBD Merchant Account focuses on the back end of the processing spectrum. They don’t appear to have any hardware or software that they offer. Instead, they focus on connecting existing merchants with the proper bank to allow credit card processing.
The website does reference terminals rounding up charges, but it does not list any sort of hardware. This could indicate that they offer software that integrates with existing POS systems, but there is no clear indication that this is the case.
They specifically talk about security in their services offered, however, they do not go into any great detail about what that security might be. In a high risk industry, security is a necessary service and should be stated upfront.
The company website has a dead link to value-added services, indicating that they have at least entertained the idea. However, there is no actual information to inform a potential client as to what those services might be.
They also have a dead link to a website development page. This may be a service they offer, but there is no real way to tell at this point.
Supported Payment Types and Services
American Express is the only major credit card listed on their website. They do have six pages of sponsored eCommerce shopping carts that they appear to have some connection to.
Discloses All Important Terms
Public Pricing Available
There is no information to be found on their website other than the ability to pass a $2.50 fee on to the customer if the merchant wishes. Knowledge of the industry would indicate that as a high risk business they have higher than industry averages for rates and fees.
This wording would imply to customers that each transaction costs $2.50, however, this is very unlikely. It would be more realistic that this fee is on top of the merchant fees assessed by the credit card processor.
1.5% + $0.08
1.5% + $0.08
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Payment Gateway Fee
Early Termination Fee
PCI Compliance Fee
Equipment Lease Terms
Address Verification Service (AVS)
Account Setup Fee
Gateway Setup Fee
There is no information on contracts to be found on their website or any review websites regarding contracts. There is no real indication that CBD Merchant Account even requires their clients to sign a contract.
The most likely scenario is that the company sets the merchant up with a processing bank and that bank holds the contract.
General terms in the industry put a contract at 24-36 months on average. Some processors hold contracts outside this average. Due to the high risk of the CBD market, most banks will hold longer contracts with large rolling reserves and steep early termination fees.
There is a claim of no chargebacks, however, this is extremely unlikely to be 100% accurate. There is a historical reason the CBD industry is such a high risk. The legality of the product across the nation leaves a universal banking process impossible. As a result, it is highly unlikely that they would be able to sustain the claim of no chargebacks.
Early Termination Fee
There are claims on the website of setup within 24 hours. This may be true on their end, but most likely there will be a longer underwriting period from the bank of choice. Especially with the high risk business, the likelihood of a longer time frame is extremely likely.
Support is a business standard email and telephone number.
There is no file with the Better Business Bureau.
Other Online Reviews
At this time there are no other reviews or ratings to be found for CBD Merchant Account anywhere online.
Does not have BBB profile.
Total Online Reviews
Total Online Complaints
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