Fusion Financial is a innovative cash management solution for our MMJ community members that is in strict compliance with all required government and central banking and financial regulations.
From its inception, CFS has operated solely as a dedicated cannabis-friendly organization. Fusion Financial is dedicated to building economically sound relationships with cannabis operators who are credible, deposit-worthy and professionally focused on medical cannabis applications and medicinal results for those they serve.
Our account solution platform is continuously monitored by our compliance team, which has decades of experience, to meet and exceed all reporting requirements.
Thorough vetting and reporting is labor-intensive; membership fees are determined based on the specific needs of each client and are still the lowest in the industry.
Operational Cash is hard currency in denominations of $100, $50, $20, $10, $5 and $1’s that are currently stored by the Client on-site where normal daily operations are conducted and the funds are used for ongoing daily, weekly and monthly operational needs. This is the cash associated with routine business activities.
Legacy Cash is hard currency in denominations of $100, $50 and $20 that is:A) currently stored by the Client in a private vault, warehouse or bonded Depository; B) currently stored on location where normal operations are conducted but is palletized or packaged for storage and is not used in normal business operations.
For Fusion Financial to accept a deposit the currency of either kind must be separated by denomination or additional cash processing fees will apply.
1. First register as a Basic Member of the CannaFriendlySociety.
2. You will be issued a membership number, which you will include as part of your Fusion Financial application.
3. Your application will go through the vetting and strict compliance procedures, which may take up to 45 days.
4. Once your account application is approved, we provide a unique solution for both your Operational Cash and your Legacy Cash.
Fusion Financial will likely approve operators who can show strong business, operational, and compliance practices they have demonstrated in the medical cannabis marketplace.
Our selection process is rigorous and those who we choose to do business with understand that it’s a valued privilege to be accepted as a client of Fusion Financial’s Cannabis-friendly membership.
1. Denominations of $100, $50 and $20 are accepted for deposits.
2. Fusion Financial will schedule to have the cash picked up by a licensed, bonded and insured private courier at a prearranged, mutually agreeable, secure private location. Alternatively, the client can independently arrange cash transport and coordinate with Fusion Financial by appointment only for Fusion Financial to receive the cash transport at the identified deposit branch.
3. The costs associated with transportation are either paid directly by the Client or the costs are deducted from the deposit subject to agreement in writing by the Client prior to the transport taking place. An insurance policy from an A+-rated Indemnity Insurance company covers the transport of the Client cash.
4. The cash is counted and verified to be authentic (not counterfeit currency or flagged as criminal in origin) using a high-speed Cummins Allison counting machine:
5. A confidential bill of lading/receipt is issued to the Client’s representative immediately including an electronic copy of each serial number for verification purposes.
6. Fusion Financial deposits the cash in a pre-approved account opened for the Client in Fusion Financial.