Cannabis: Cash Is King, as Banks Remain Wary of Marijuana-Fueled Accounts

Five months before California formally legalizes recreational marijuana sales, there’s no sign that the cash conundrum will be fixed.

Four times a year, some Santa Barbara County cannabis growers drive to the IRS office in Camarillo with as much as $200,000 in cash stuffed in duffel bags.

That is just to pay taxes.

Utility bills? Cash. Thirty employees? Cash. Fuel? Cash.

As debit cards and chips wipe out the need for cash, Santa Barbara cannabis growers rely on it ​— ​sometimes exclusively.

Read More at Independent.com