1550 Larimer Street
Denver, Colorado 80202
Email: [email protected]
Telephone (424) 209-2890
Support (818) 850-1034
WEBSITE COMPLIANCE GUIDELINES
Updated on April 20, 2022
If you are business owner selling hemp derived CBD, delta 8/9, CBD & Delta-8 and vapes; pay careful attention to these new underwriting requirements.
Five of the top US domestic banks that support hemp sellers and delta 8/9/10 introduced these new requirements in late April.
Failure to comply with bank or card brand regulations will slow down the approval process or prevent you from getting credit card processing altogether. *Follow the rules.
nO UNSUBSTANTIATED
HEALTH CLAIMS
The Federal Trade Commission (FTC) and the Federal Drug Administration (FDA) strictly prohibited unsubstantiated health claims. Any verbiage implying that the use of CBD can potentially; heal, cure, relieve pain, alleviate stress, mitigate causes of ailments, etc., MUST BE REMOVED. This federal requirement includes the use of customer testimonials purporting the same.
THE Website
Must Be "Live" or Password Accessible
Websites must be published and "live" at the time of submitting an application for a merchant account. *It is NOT necessary that all products be listed or publish. At a minimum have at least 5 or 6 products ready for inspection. If the website is not yet "live" email us a link containing a Username and Password allowing bank underwriters access for inspection purposes.
Published
Policy Statements
Age
Verification Gate
Use a software app or plugin to verify the legal age of website visitors as a prerequisite for entry into your website.
Contact Page
A Phone# and Address
The contact page of the website must feature complete contact details. This includes; a physical address, a telephone number for customer service purpose, and an email address.
CERTIFICATES OF ANALYSIS (COAs)
Laboratory-issued certificates of analysis (COAs) for each batch of CBD, delta-8/9 or kratom product sold must be published on the website. Do not publish a product on the website if a valid COA is not available for the product.
Supporting Documents:
Email to us the following documents along with your merchant application
Helpful Information
- Compile and upload all of the documents shown below into a Google Drive folder or Dropbox folder.
- Afterward, email to us a hyperlink to your stored documents. Our email address is: [email protected]
- Voided Business Check with DBA or Legal Entity Name
- Articles of Incorporation /LLC and signed By-Laws(Corps) or Operating Agreements(LLC) Unless signatory is the 100% sole owner.
- Proof of EIN / Employer Identification Number. Send in a copy of the IRS letter featuring your EIN / Employer Identification Number.
- 3 months of business or personal bank statements.
- 3 months of merchant processing statements - If the business has been or is currentlyy accepting credit card transactions.
- Drivers License from all Owners/ Principal signers - Any company owner holding 10% of more ownership interest needs to be listed on application. Furthermore, those persons must send in a copy of their ID card.
- Proof of Domain Ownership. Send in a copy of a receipt showing proof of payment or any document showing proof of ownership.
- Drop Shipping Fulfillment Agreement or Pictures of Inventory. *Only if you are using a 3rd party fulfillment company for drop-shipping purposes is a copy of the agreement necessary.
- COA (CERTIFICATE OF ANALYSIS) - for every product sold online. (All laboratory COAs provided must match the end product in its final state that is being sold on the website; not just the CBD isolate used to make the products. Testing needs to be completed by an approved and accredited third-party laboratory. COAs must show a full contaminant test was conducted, including Heavy Metals, Microbials, Pesticides, and Solvents (if applicable) for all products meant for human use. Not just THC levels. Even if your state does not require you to have a full spectrum test, if you are selling online to other states that do require it a correct test needs to be provided to meet the compliance as we default to the highest degree of standards).