Customers Bank offers banking services to hemp permit holders

Dawn Ouellette Nixon//September 17, 2019

Customers Bank, a community bank with operations in Pennsylvania, District of Columbia, Illinois, New Jersey, New York and New England, has announced that the bank will start providing commercial banking services to hemp and hemp-derived cannabidiol (CBD) companies that are permit holders in Pennsylvania and New York.

Customers Bank will provide legal hemp-related businesses and hemp-derived CBD companies with access to commercial checking, online and mobile banking, fraud protection, ACH payment, online wire transfer services, business bill pay and other services.

“The hemp and hemp-derived CBD industry is in the early stages of development and having access to the same business banking products available to other market segments is critical to the long-term growth of this sector,” said Richard Ehst, president and chief operating officer of Customers Bank.

Ehst continued to say that hemp-related businesses will be an economic driver across the company and that now is the right time to begin providing needed banking services to the industry.

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