Frequently Asked Questions

A For Benefit Of (FBO) account is a pooled bank account held by one party (Evergreen FBO) at an FDIC-member partner bank for the benefit of another (your cannabis business). Each business maintains a virtual sub-account with a precise balance tracked through our double-entry ledger. This structure allows cannabis businesses to access compliant banking services that traditional banks often refuse.

Currently, Evergreen FBO serves licensed cannabis businesses operating in the State of Arizona. We comply with Arizona state cannabis regulations and the requirements of our FDIC-member banking partner. Expansion to other states may occur in the future as regulatory landscapes evolve.

After submitting your application, our compliance team reviews: (1) Government-issued photo ID for all beneficial owners, (2) Business EIN and state registration, (3) Arizona cannabis license, (4) Beneficial ownership structure (anyone with ≥25% equity), and (5) OFAC, FinCEN, and state cannabis sanctions screening. Most reviews are completed within 1–3 business days.

You will need: a valid government-issued photo ID for each beneficial owner, your business EIN (IRS letter or equivalent), your current Arizona cannabis license, Articles of Incorporation or equivalent, and a voided check or bank statement for any linked external accounts.

Funds held in the Evergreen FBO pooled account are deposited at an FDIC-member partner bank. Pass-through FDIC deposit insurance may apply to each beneficial owner's share, up to $250,000 per person, per institution. Please review our full terms and consult with a financial advisor to understand the specific coverage that applies to your account.

Yes. Evergreen FBO conducts periodic KYC/KYB compliance reviews on a defined schedule (typically every 90 days). These reviews re-verify business registrations, license validity, sanctions screening, and beneficial ownership. Our compliance portal allows you to upload updated documents and track review status in real time.

Evergreen FBO offers a monthly subscription and a discounted yearly subscription. Both plans include all features — FBO account, ACH transfers, cash pickup, vendor payments, compliance portal, and support. Visit our Pricing page for current rates.

A small percentage fee may be applied to certain outgoing transfers and vendor payments. The exact rate is set by the platform administrator and is always displayed clearly before you confirm any transaction. There are no surprise charges.

Cash pickup fees are charged by the licensed cash transport provider (vendor) and vary by provider. When you schedule a cash pickup, the system shows you the exact fee breakdown — portal fee plus provider fee — before you submit your request. The net amount credited to your FBO account is also displayed upfront.

No. There are no setup fees, no KYC review fees, no per-user fees, and no minimum balance requirements. The only costs are your subscription fee and any applicable transaction fees shown before each transaction.

You can initiate outgoing ACH transfers (withdrawals to a linked bank account) directly from your dashboard. Incoming ACH transfers from customers or business partners can be received using your FBO account and routing numbers. Standard ACH settlement takes 1–3 business days. All transfers are tracked in your real-time ledger.

The Cash Pick Up service lets you schedule a vetted, licensed cash transport provider to collect physical cash from your business premises. The provider verifies their identity using a one-time code, you confirm the handover, and once the cash is deposited at the partner bank, your FBO balance is credited — typically the same day. This eliminates the risk and liability of transporting large amounts of cash yourself.

Yes. Once approved and subscribed, you can send payments to licensed vendors, suppliers, and service providers directly from your FBO balance. All payments are logged in the double-entry ledger with full audit trails. Vendors receive funds in their own Evergreen FBO vendor account.

Most applications are reviewed within 1–3 business days. Complex applications (e.g., multi-owner structures or businesses that require additional document verification) may take up to 5 business days. You will receive email and in-app notifications at each stage of the review.

Any state-licensed cannabis business in Arizona may apply, including adult-use dispensaries, medical dispensaries, cultivators, processors, and distributors. All applicants must complete our KYC/KYB review process and comply with Arizona cannabis regulations.

Evergreen FBO uses Plaid, a secure bank-linking service, to connect your external business bank account. This allows you to pull funds into your FBO account via ACH and push withdrawals back to your bank. Your credentials are never stored by Evergreen FBO — Plaid handles the connection securely.

If our compliance team identifies an issue — such as an expired license, a failed sanctions check, or missing documentation — you will be notified immediately via email and in-app notification. Your account may be placed in an "Information Needed" status, which pauses certain transactions until the issue is resolved. Our compliance team will guide you through the required steps.