Tellers, frontline staff, as well as compliance personnel at banks that do not bank cannabis should still get trained on cannabis banking because even though their institution may not directly serve cannabis-related businesses, they may still encounter transactions or inquiries related to cannabis.
For example, a customer may come into the bank and want to deposit cash that they earned from a job in the cannabis industry. They may also have questions about the legality of certain cannabis-related activities or transactions. In these situations, tellers and customer staff need to be knowledgeable about the regulations and laws related to cannabis banking in order to provide accurate information to their customers. This is regardless of the bank’s or credit union’s stated position on banking CRBs.
Furthermore, the cannabis industry is rapidly evolving, and it is possible that in the future, more banks may begin to offer services to cannabis-related businesses. By training personnel on cannabis banking now, they will be better prepared for potential changes in the industry and can adapt to new policies and regulations as needed.
Overall, even if a bank does not currently serve cannabis-related businesses, it is still important for both customer-facing staff as well as support operations like Risk and Compliance to be trained on cannabis banking in order to provide excellent customer service, up-to-date compliance with current regulations, and to be prepared for any future changes in the industry.