YUMA, Ariz. (KYMA, KECY) – Cannabis is legal in Arizona, but many dispensaries still operate fully in cash. Some locals I spoke with say this not only creates safety concerns, its simply inconvenient.
At dispensaries across Arizona, cash is often the only way to pay. Not by choice, but by necessity. Rizzo Martinez uses marijuana to easy his arthritis pain but sometimes runs into issues.
“Sometimes I got $50 bucks on my credit card and I can’t use it here but I want to get some weed to ease my pain,” says Martinez.
Arizona attorney general Kris Mayes joined a bipartisan coalition asking congress to pass the safer banking act. A bill that would allow cannabis businesses to use banks and credit unions.
Arizona dispensaries association says marijuana has been regulated for 12 years and there are some portions of banking within the industry, but not enough to be impactful.
“However there are not enough banks and it does not provide some of the other overlays in safety that would be very helpful,” says Ann Torrez, with the Arizona dispensaries association.
Torrez says the change would help reduce the risk of robberies, help businesses stay compliant with tax laws, and regulate the industry. Martinez says he likes the idea as it would make his experience at the dispensary easier.
“I’m pro for it because it makes people like me it makes it easier for them so they don’t have to be struggling like ‘oh I have to make sure I have money in my bank, make sure I have cash, when you can just make a credit card payment and buy some weed,” says Martinez.
The bill still needs to make it through congress but dispensary customers in Yuma are hoping for relief.
