Cost of Cash

fusion bank cash cost


How much are cannabis operators really paying to do business in cash?

In an era in which cannabis operators are forced to do business in cash, many miss the convenience and safety of being able to open an account, but many are also seeing the upside of this enforced arrangement. And with several years operating in cash-only businesses, swapping over to operating with and an institution like Fusion Financial, can be a bit of an intuitive challenge to some.

Why? Because compliance costs money – there are fees to be paid. So, why look for a bank when you can continue to do business in cash and pay absolutely no fees at all?


It isn’t free to do business in cash. In fact, it’s costing you far more than you think!

Doing business in cash costs more than twice the amount it does to have a cannabis account. You are likely unaware of these costs because they aren’t transparent and don’t get printed out on your statement at the end of the month but, without exaggeration, they can amount to tens of thousands of dollars every month.

The table below was gathered from the 2017 National Retail Security Survey and lists just a few of the standard expenses associated with doing business in cash.  Look how they add up to a considerable dent in the revenue brought in by cash-dependent businesses.

What this data shows us is that doing business in cash costs cannabis operators a standard 7.0% of their monthly sales volume. This percentage is made up of all the expenses detailed in the first column on the left, such as the cost of employee cash counting, handling, and processing time, as well as the impact of theft, the cost of an armored courier service, and IRS penalties for cash payments.


For the first 12 months, Fusion Financial’s account fees are 2.39% (Click here to view the Fee Overview Page) with a minimum of $1,900 per month and a maximum of $10,000, which essentially means the more you deposit, the smaller the % fee and the lower your overall operating cost per 100k. Take a look at the savings…

  • Beginning the second year (13th month,) the fee becomes fixed at 1.95% for all deposits with a minimum of $1,900 per month or maximum of $10,000 per month and your savings will increase.


Fusion Financial is different than a commercial bank – it’s a COMPLIANCE solution.

Why don’t gift shops operate in cash?  Because it’s relatively inexpensive and easy. When a gift shop owner goes to a traditional bank to open an account, the bank does not have to determine daily if every single trinket, toy or coffee mug transaction is run through compliance. Traditional banks are not required to verify that the sources of the products being sold are legal from the moment of production until they reach the display case and are sold. Traditional banks are not required to know if you are selling Hallmark cards to minors. The cannabis industry is an entirely different animal and needs an entirely new kind of compliance model to be taken seriously and to mitigate the risks for everyone involved. And that costs time and money to do it correctly.



These are just some of the impressive features and  benefits that Fusion Financial delivers:

  • Stop operating in exclusively in cash, which is a magnet for crime, and get peace of mind about employee and public safety.
  • Securely and legally move your business’ legacy cash into your account.
  • Make use of Fusion Financial’s secure, mobile-first online platform, which offers cannabis operators a safe and convenient way to access their account from anywhere in the world, using any device with Internet access.
  • Send, receive, and manage your funds, as well as accurately manage your taxes through customary account methods.
  • Enhanced reporting itemizing state, local, and municipal taxes conveniently supplied for verification and accuracy of filings.
  • Make quick and easy wire transfers rather than paying bills in cash.
  • Make use of our extensive network of Private Vault Facilities in legal cannabis states.
  • Schedule regular pickups for safe and secure transport of cash from your business premises to these Private Vault Facilities, so that you can safely and conveniently deposit your revenue.
  • Your deposits are privately insured dollar-for-dollar.

It makes good financial sense to move away from cash. Based in the Bahamas and compliant with the 2014 FinCEN guidelines laid out by U.S. federal law, Fusion Financial is a cash and treasury management solution that is legally able and ready to serve the cannabis community.


As medical marijuana continues to move out of the shadows, we believe there are 4 pillars of compliance that will support ethical industry standards:

1. Licensing
2. Cash Management
3. Public Safety
4. Taxes and Reporting

If you are operating in cash, in the eyes of the Fed, you are nothing but a drug dealer.

Having a legitimate and compliant solution is, without question, the best way forward for the cannabis community, and is a powerful way to achieve legitimacy in this era of uncertainty. Additionally, it’s substantially more cost-effective to manage your profit when its not in cash.

We look forward to welcoming you as a new member and account holder!


Become a member: When you join the Sovereign Friendly Society, you can experience the financial services, insurance options, and investment solutions SFS provides.

Open an account: Open an account with Fusion Financial and get your cannabis (or related) business operating safely, legally, and far more efficiently.

Download the 2014 FinCEN Guidelines

Reach out: If you have any questions, please email or call +1.866.347.3321 Protection Status