Terminals deployed in marijuana-dispensing establishments cannot be sponsored by Meta
Dear ATM ISOs and ESOs,
2/4/14: Please be advised that terminals deployed in marijuana-dispensing establishments cannot be sponsored by our sponsor bank.
Recently, certain states have legalized the general sale and distribution of marijuana. However, such sale and distribution is a violation of federal law which can be punishable by fines and penalties. Accordingly, MetaBank, as a federally-chartered bank subject to federal banking regulation, cannot sponsor ATM terminals that are deployed in any business establishment that distributes marijuana.
TransNational ATM requests you review your existing terminal deployments to ensure there are no terminals placed in marijuana-dispensing establishments. Should there be any existing deployments in such a location, please work with the operator/owner to get the terminal inactivated and removed within 20 days of this notification.
Additionally, when your sales force is working on new terminal deployments, please make sure each sales agent is aware of this sponsorship restriction. Have the sales agent ask before contracting for processing if marijuana is dispensed from the location.
Thank you for ensuring you, the operator/owner and TransNational ATM are not subject to any federal litigation or other sanction from terminal deployments in marijuana sale or distribution establishments.