First Enterprise Bank

Business Checking Accounts
for Oklahoma Cannabis-Related Businesses


Welcome to First Enterprise Bank, where we understand the unique needs of cannabis-related businesses.

Our checking accounts for cannabis-related businesses not only provide secure and convenient banking solutions but also help address the legal and safety issues faced by businesses that deal in large amounts of cash.

At First Enterprise Bank, we go beyond traditional banking by helping our customers navigate regulatory compliance, allowing them to focus on what they do best, while we handle the financial intricacies. Plus, we take pride in offering low service fees, making us the smart choice for businesses looking to optimize their financial operations. And with our popular Referral Program you get rewarded up to $400 for each new account you refer to First Enterprise. Terms and conditions apply. See below for details.

Join the hundreds of cannabis businesses who have found the peace of mind that comes with banking with First Enterprise Bank.


Cannabis-Related Checking Accounts

Tier 1 includes: Growers
Tier 2 includes:
Processors, Dispensaries, Transporters, and Waste Disposal
Tier 3 includes:
Trimmers, Irrigation, Accounting / Consulting Firms, Advertising

 

Tier 1


Opening Balance:
$100

Minimum Balance:
None

Monthly Service Charge:
$400

Interest Bearing:
None

Check Writing Limits:
Unlimited

Other Fees:
None

Free Benefits:
Statements & Debit Card

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Tier 2


Opening Balance:
$100

Minimum Balance:
None

Monthly Service Charge:
$400

Interest Bearing:
None

Check Writing Limits:
Unlimited

Other Fees:
None

Free Benefits:
Statements & Debit Card

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Tier 3


Opening Balance:
$100 Enterprise Checking

Minimum Balance:
None

Monthly Service Charge:
$200

Interest Bearing:
None

Check Writing Limits:
200 Transactions per statement cycle*

Other Fees:
None

Free Benefits:
Statements & Debit Card


Get Started

NO APPLICATION FEE!

The first step for applying for a First Enterprise Bank Cannabis-related Business Checking Account is to download, complete, and then sign the CRB Checking Account Application. Bring this completed form and all required application documents (see below) to any of our four Oklahoma City locations. If you have any questions, please give us a call at (405) 681-0771.


We Keep it Simple! Application Document Requirements

Required for ALL Applications

  • OMMA License

  • OBNDD License

  • FDA License for the sale of Edibles (if applicable)

  • Agriculture License for the sale of clones (if applicable)

  • SS# for all Beneficial Owners & Signers

  • Email addresses for the Business & Signers

  • Business Physical & Mailing Addresses

  • Phone Numbers for all Beneficial Owners & Signers

  • Current Addresses of all Beneficial Owners & Signers

  • Drivers License or OK State ID (address must match) of all Beneficial Owners & Signers

  • List of all Beneficial Owners (a Beneficial Owner is any natural person that holds 25% or more of any of the applying business.)

Limited Liability Company Applicants

  • SS-4 Form (Federal Tax ID)

  • Certificate of LLC

  • Articles of Organization

  • Operating Agreement

  • Trade Name (if applicable)

Corporation Applicants

  • SS-4 Form (Federal Tax ID)

  • Certificate of Incorporation

  • Articles of Incorporation

  • By-Laws

  • Trade Name (if applicable)

Partnership Applicants

  • SS-4 Form (Federal Tax ID)

  • Certificate of Partnership

  • Articles of Partnership

  • Partnership Agreement

  • Trade Name (if applicable)

Sole Proprietorships - DBA Applicants

  • Certificate of Fictitious Name filed with the Oklahoma County Court Clerk

Frequently Asked Questions

Q : Does First Enterprise Bank have experience with cannabis businesses?

A : Yes! We opened our first cannabis-related checking accounts in 2018 and currently have more than 200 cannabis businesses banking with us.

Q : Why are the fees higher than a normal account?

A : FinCEN (US Treasury Dept.) and the FDIC watch cash transactions very closely. The bank has a lot of back-office work to do to keep you and the bank in compliance with those strict regulations.

Q : My business is located outside of Oklahoma City and driving there to make deposits would be difficult. Do you have any suggestions?

A : While we do have a provider service area, we will open accounts statewide. We are aware of courier services to safely deposit your cash in your account. Just ask us for details.

Q : What do I need to get started?

A : We Keep it Simple! All forms are electronic and can be emailed to you right away.

Q : Does First Enterprise Bank make loans to cannabis businesses?

A : Unfortunately, until the Federal cannabis laws change, we cannot make cannabis-related loans. However, establishing a checking account relationship with us now will make the lending process quicker and easier when the Federal laws change.

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For more info, give us a call at (405) 681-0771

Primary Service Area includes: Oklahoma, Cleveland, Canadian, Kingfisher, Pottawatomie, Logan, and Lincoln Counties **

* Enterprise Checking transactions over 200 are $.25 per item. Transactions include deposits, deposit items, checks, POS, and ACH items.

** Additional mileage charges may apply outside the bank’s Primary Service Area.

REFERRAL PROGRAM: New referred accounts must be open for 90 days and must be in good standing. Good standing means the account must not be overdraw or missing license requirements, and must be in compliance with federal, state, and bank rules and regulations.