Premier Business Banking

Grow your business from a solid foundation of financial services that doesn’t crumble when banks discover you are a cannabis-related business.

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No application fees or commitments

How It Works

Secure Deposits

Protect and monitor your money in a FDIC-Insured online account. No limits to cash, ACH or wire deposits.

No Shutdowns

Deposit money, pay employees, write checks, transfer money and more without fear of any sudden shutdowns because you’re a cannabis business.

Watch Your Money Grow

Earn interest on excess money in an interest-generating account.

Control and Manage Finances in Your Business' Name

Be wary, some other providers may offer to hold your money in their business account and transact on your business' behalf. Under these circumstances, your money is not protected. Don't give your money away.

Don't Let Cash Compromise Your Safety

Get cash picked up from the safety of your place of business. Schedule convenient cash pick-ups from your business location. Cash is deposited to your account for quick access the next business day.

Your Money is Always Yours

Your money is always held at a FDIC-insured bank. Run your business with the peace-of-mind knowing your hard-earned money is in good hands.

Maximize Earnings on Unlimited Deposits

Is your cash working for you or against you? Your funds can grow in an interest-generating account. With no restrictions to deposit amounts, enjoy potentially limitless amounts of interest revenue.

Don’t Limit Your Options to Get Paid

With flexible payments, you can send and receive money via ACH, wire or check. Our cash pick-up services let you accommodate your partners cash payments with security and convenience. Manage payments easily with hassle-free invoices. Get paid quickly by specifying payment due dates and terms on electronic invoices.

Manage Business Finances from a Central Online Center

Your time is valuable. Be smart and efficient using one place to manage your business finances. View balances, monitor activity, make payments, send invoices, write checks and more through the Online Account Center.

Testimonials

  • Plus Products

    “We are thrilled at Plus Products how well Dama Financial is working for us. They have saved our finance team a lot of time.”

    Jon Paul, CFO. Plus Products

  • Sublime

    “They provide immediate responses to our inquires and have been outstanding at accommodating our short notice requests such as vendor approvals, transfers, and cash pickups. The ease of use of their online portal makes our job easier.”

    Vona S., VP of Finance. Sublime

  • Silverstreak

    “The Paytender team has been an amazing partner, providing the best options available with equipment, hands on training and all hours support.”

    Scott G., Silverstreak

  • American Made

    “Overall, Dama has been a great experience for us so far across the board. My requests or questions are always responded to quickly, which in this fast-paced cannabis industry is very important.”

    Andrey S., American Made

Frequently Asked Questions

  • Who is Dama Financial?

    Dama Financial is a financial services business founded by banking and payments industry veterans that, working with its U.S. based sponsor bank partners, provides solutions and services for cash-intensive businesses.

  • What are the Fees?

    Our simple Fee Schedule is available when you register to access the Account application. A fee is charged on most deposits and is inclusive of partner bank fees. Armored cash courier service will be quoted and billed separately based on the pickup location(s).

  • Do I need a state-issued Marijuana Business License?

    Cannabis businesses applying for an account are required to have a valid, active state-issued cannabis license. No cannabis license is required for ancillary businesses.

  • What is ACH?

    Automated Clearing House (ACH) is an electronic network used to make financial transactions in the United States between participating depository institutions. Rules and regulations that govern the ACH network are established by NACHA and the Federal Reserve. ACH is commonly used for business-to-business payments and federal, state and local tax payments.

  • How do I pay my vendors and taxes?

    Your vendors and other payees can be set up in the online account center. Each payee will undergo a due diligence review and must be approved by us before you can pay them. Once a payee is approved, you can pay them electronically or by check through the online account center.

  • Where will my cash be taken?

    Your cash will be picked up and transported by a secure, armored courier service for deposit into your bank account. You may schedule cash pickups as needed (fees apply). You can log into your account to check the status of deposits.

  • Will my account be protected or insured?

    Deposits at our partner banks are FDIC-insured up to $250,000 per account.

  • Are my transactions reported to the Federal government?

    Yes. transactions will be reported on a quarterly basis. Dama Financial and its bank partners operate in full compliance with the Bank Secrecy Act of 1970 (BSA), sometimes referred to the Anti-Money Laundering Law (AML), or BSA/AML. The law requires financial institutions (traditional banks, credit unions and thrifts, as well as non-bank financial institutions and money services businesses) in the United States to assist U.S. government agencies in detecting and preventing money laundering.

    Additionally, Dama's bank partners are required by law to perform anti-money laundering checks and to keep specific records of events that could signal the occurrence of money laundering. We and our banking partners operate in accordance with FinCEN's guidelines on providing financial services to marijuana-related businesses. This includes filing a quarterly report containing all financial transactions, filing Currency Transaction Reports (CTR) relating to cash transactions exceeding $10,000 in one business day, and filing a Suspicious Activity Report (SAR) if a transaction may be illegal or an attempt to launder funds from illegal activity. Reports are filed electronically with the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury.

  • How do I reach a Dama representative?

    Call 877-401-3262 or send an email to info@damafinancial.com.

    Current Dama clients should contact their dedicated Relationship Manager, or email clientservices@DamaFinancial.com.

    Business hours are Monday - Friday, 9AM - 5PM PST.