Which bank does Broken Coast deal with?

[realmeduser]

No I have never bought government weed...
I copy and paste this quote from a different site I am not a member of. I cannot believe that they would really stop e-transfers to businesses due to the overwhelming use of them for payment.
Is there any truth to this?

quote:
***Banks are starting to kill e-Transfers to businesses. This will impact the MOMs & seed vendors who count on them for payment.

From LP Broken Coast:

"We regret to inform you that within 30 days we will no longer be able to accept email money transfers as a form of payment. Our bank has updated their business banking policy and will no longer allow the deposit of e-Transfers into a business banking account. We have been given 30 days to transition away from accepting e-Transfers, but this time frame isn't guaranteed and we may be cut off ahead of time, without notice."***

 

[Skoal]

Interesting. Moms only accept e transfers. They want everyone to move onto credit card.

 

[CalyxCrusher]

Sounds like no more etransfers for cannabis businesses, not banking in general. Just my take.

 

[The Hippy]

Lie to the bank and tell them you sell cupcakes.
This seems to have more to it than the info we have here yet.
Send me money...i'm good with it.

 

[realmeduser]

Lie to the bank and tell them you sell cupcakes.
This seems to have more to it than the info we have here yet.
Send me money...i'm good with it.

I have searched and found nothing anywhere except that the system is hugely used for payments. The banks would be shooting themselves in the foot.
Wouldn't mind finding their bank and see what this policy change really is.

 

[The Hippy]

I could see if you openly operate as a weed delivery business that the banks would stop all services to you. Pressured or not I'd imagine if you told them or demonstrated that you sell anything illegal...bye bye to your services.
My thoughts are that if you walked in and openly told them the money they handle for you is derived from a illegal enterprise they'd turn you loose....right???
Now would they check/investigate every business account to verify what you really do....dunno. Doubt it.

 

[realmeduser]

Broken coast is a licenced LP though .that is who sent the email to the guy.
And if you reread it, it says "Our bank has updated their business banking policy and will no longer allow the deposit of e-Transfers into a business banking account."

I read that as all businesses. I am not personally selling weed via etransfer if that is the impression my post gave you @The Hippy

 

[realmeduser]

For all I know they use a credit union in bumfuk nowhere and not a "real" bank.

 

[The Hippy]

Broken coast is a licenced LP though .that is who sent the email to the guy.
And if you reread it, it says "Our bank has updated their business banking policy and will no longer allow the deposit of e-Transfers into a business banking account."

I read that as all businesses. I am not personally selling weed via etransfer if that is the impression my post gave you @The Hippy

No I didn't mean you at all. Not that'd i'd care if you did. No I meant the Mom's all over the place.
Ya I'd wonder what bank said that. That's what E transfer's were setup for...doing business and making the bank a cut.

 

[CalyxCrusher]

I have searched and found nothing anywhere except that the system is hugely used for payments. The banks would be shooting themselves in the foot.
Wouldn't mind finding their bank and see what this policy change really is.

E transfers as a whole aren't going anywhere anytime soon. Online banking is now the bulk of a banks business. LPs have had issues in the past finding banks that will do business with them. This is a part of that.

 

[CannaReview]

E transfers as a whole aren't going anywhere anytime soon. Online banking is now the bulk of a banks business. LPs have had issues in the past finding banks that will do business with them. This is a part of that.

I haven't heard anything from TD and nothing on their site.

 

[Jefferson1977]

I could see if you openly operate as a weed delivery business that the banks would stop all services to you. Pressured or not I'd imagine if you told them or demonstrated that you sell anything illegal...bye bye to your services.
My thoughts are that if you walked in and openly told them the money they handle for you is derived from a illegal enterprise they'd turn you loose....right???
Now would they check/investigate every business account to verify what you really do....dunno. Doubt it.

The banks always ask for too much info anyways. Last time I went to get a bank draft for 12k, the teller asked me what the money was for. I had the receipt for the new car right on the desk in front of her but I said "Bitches and blow" instead.

 

[Farmer.J]

I haven't heard anything from TD and nothing on their site.

I have a business account and it doesn't allow me to send e-transfer with the account but it does let me accept e-transfer in that account. My personal account with the same bank allows me to do both.

 

[CannaReview]

I have a business account and it doesn't allow me to send e-transfer with the account but it does let me accept e-transfer in that account. My personal account with the same bank allows me to do both.

I can receive personal e transfers to my shops business account no problem. I can also send e transfers from my business to other accounts. This is with TD.

 

[CalyxCrusher]

The banks always ask for too much info anyways. Last time I went to get a bank draft for 12k, the teller asked me what the money was for. I had the receipt for the new car right on the desk in front of her but I said "Bitches and blow" instead.

"Well it's more of a 60/40 kinda thing, so is that bank draft ready?"

 

[GreenHighlander]

The banks always ask for too much info anyways. Last time I went to get a bank draft for 12k, the teller asked me what the money was for. I had the receipt for the new car right on the desk in front of her but I said "Bitches and blow" instead.

I have had them ask me what I wanted 5k for a few times over the years. I once told the teller I needed it because his mom put her prices up. Then told him I wanted to speak to a manager. Usually I say it is none of their fucking business why I want my money and then to get me the branch manager. I even had a main branch one time try to tell me they didn't keep that much money on hand and I had to give them 24 hour notice lol I said no the money is in there and I want to withdraw it now. Which of course the manager facilitated with no issue.
Regardless banks can lick my nuts, I use a credit union now and have zero issues ever.

Cheers

 

[TheRealDman]

I have had them ask me what I wanted 5k for a few times over the years. I once told the teller I needed it because his mom put her prices up. Then told him I wanted to speak to a manager. Usually I say it is none of their fucking business why I want my money and then to get me the branch manager. I even had a main branch one time try to tell me they didn't keep that much money on hand and I had to give them 24 hour notice lol I said no the money is in there and I want to withdraw it now. Which of course the manager facilitated with no issue.
Regardless banks can lick my nuts, I use a credit union now and have zero issues ever.

Cheers

If you want more than $5k cash, you have to order it in advance....with TD anyways. Teller limit is $3k cash, anymore must be ordered. I’ve ordered $10k with absolutely no questions asked.

 

[VIANARCHRIS]

E transfers as a whole aren't going anywhere anytime soon. Online banking is now the bulk of a banks business. LPs have had issues in the past finding banks that will do business with them. This is a part of that.

I just sent a $1000 e-transfer to buy the grow tent setup I got last week. I can't see commerce via e-transfers going anywhere.

 

[Jefferson1977]

If you want more than $5k cash, you have to order it in advance....with TD anyways. Teller limit is $3k cash, anymore must be ordered. I’ve ordered $10k with absolutely no questions asked.

Haha. Try and go to the bank and send a bank wire. They basically ask you every personal thing you can imagine (especially if it is over 10k) right there at the teller. If I was some kind of high tech criminal I would just stand in bank lines and wait to overhear all of the answers the poor sap trying to send a wire has to answer. Then I could steal his identity.