EXPRESS CONTACT: (212) 724 7777
ORION GROUP NYC
LEGACY FUNDS refer to cash revenue earned, derived and accumulated as a state-licensed marijuana-related business (MRB), defined as any enterprise that dispenses, cultivates and/or manufactures marijuana, and not banked on an ongoing basis.
ORION GROUP NYC now offers several compliant banking options, both in the US and Europe for accumulated cash in any amount starting at $5M for licensed clients anywhere in the USA.
Customers of this service will also be welcome to bank their ongoing revenue from operations under the same programs we offer licensed MRBs.
Please note that funds that are found to be non-compliant, counterfeit and/or not tied to tax returns will be rejected and returned.
Pricing, terms and conditions vary from bank-to-bank but all require a non-refundable application fee of around $3000, pre-payment of estimated due diligence and compliance onboarding costs (including onsite physical inspection of all licensed facilities and refundable upon opening of the account following approval), initial net deposit fees of between 2.5% - 9.9%, on-going account maintenance and/or asset management fees, armored car and security costs, and a one-time compliance and advisory fee. In some instances, minimum refundable deposits and/or additional onboarding fees may apply.
Once a compliant bank account is established, ORION GROUP NYC can provide a variety of (now-compliant) electronic (cash-free) payment solutions, including MasterCard, Visa, American Express, Discover & JCB, as well as electronic ‘wallet’ programs, ACH debit, and electronic check apps. We’ll work with you to implement the optimal package for your specific circumstances, especially since market pricing currently ranges from roughly 2.9% to 8.4% with 3-6 month rolling reserves of between 0% - 10%.
LEGACY FUNDS DERIVED FROM LICENSED OPERATIONS