Frequently Asked Questions

  • Does BankIQ provide armored service for cash deposits?
    BankIQ maintains relationships with national, regional, and local licensed, insured, and reputable armored service providers. You will establish a direct relationship with an armored service provider that best suits your business requirements.
  • What are the fees?
    Following a review of your business BankIQ will present you with a comprehensive fee structure detailing all fees, prior to presenting your application to our partner banks. Prior to presenting your application to our partner banks, BankIQ will conduct a review of your business and provide you with a comprehensive fee structure detailing all fees.
  • What are the types of services the bank offers?
    BankIQ’s partner banks offer robust banking services to support your business, including cash processing.
  • What types of businesses are accepted?
    Cannabis related businesses that meet all state legal requirements and are licensed to operate in their respective states.
  • Does the bank provide services to cannabis businesses?
    BankIQ works in partnership with multiple financial institutions that provide service to legal cannabis related businesses nationwide.
  • Is there a fee to apply?
    BankIQ does not charge a fee to apply. Fees are based upon monthly deposit activity.
  • Is there special hardware or software required for Provisional Posting?
    To receive overnight availability of funds, you will need to utilize cash handling equipment integrated with BankIQ’s provisional posting software.
  • How long does the setup process take?
    The time to complete the process is dependent upon BankIQ receiving a completed application package.
  • Is my relationship directly with a bank or BankIQ?
    BankIQ helps you establish a direct relationship with one or more of our partner financial institutions.
  • How fast will I have access to my money?
    Utilizing BankIQ’s provisional posting, you receive overnight credit for each day’s sales activity, providing you access to your money the following day.
  • How long does it take to open an account with one of your partner banks?
    Once BankIQ receives a completed application, bank accounts are generally established within two to four weeks.