non-gun friendly banks

[Palo Verde, SASS # 56522]

First, I am aware of the Dept. of Justice declaration that firearms related industries are "high risk" and the resultant effects on the firearms industry through the Banking Industry. I am also aware that the Department of Justice is an Administrative Agency. I am also aware that this may appear, on the surface, to be seat-of-the-pants judgement calls by bank employees not in the know -- but 'tis not appear so!

 

 

It it with dissappointment that I learned that my bank of many years (Chase Bank) does not wish to do business with those in the firearms business. This I learned while trying to establish a credit card processor and affiliate bank for a small business. I have had this small business for quite a while and my Company's bank account is with Chase. When this surfaced, they (Chase Branch) were "appalled" that I had a firearms business account with them and quickly announced they may have to make some "corrections" but did not wish that to effect my other accounts with them and J.P. Morgan (ya, right! ). Chase owns "Paymentec" as a credit card processor and, although neither I nor bank employees could discover any written Policy or Rules regarding such, I was assured that they strictly do not do business with the firearms industry because it is a "high risk industry".

 

 

I then tried another bank, Wells fargo (Authorize.net as card processor), which I had heard were firearms friendly -- not so! "oh, please transfer all of your other accounts to us, but not the firearms business -- ya, right!. they seem to miss the point.

 

With both banks, I did the usual: "Who is your supervisor's supervisor in the corp head quarters?" "who in the corp head quarters is in charge of this ?" etc. and went through the process of working my way up the line and continued to run into the brick wall policy and lack of anything in writing.

 

I can understand that Banks would not want to put any policy or rule into writing that could be quoted or pointed to and they could hope to simply state, if so challenged, "we do not have any policy against .....". Pretty small thinking, if they believe that would actually give them shelter.

 

I have resolved my quest but felt obligated to pass along this knowledge in case someone else was not aware. I strongly believe "boycotts" are an effective tool if enough people will participate. Do you realize how many people in the US own firearms?

[Boulder Canyon Bob# 32052L]

So inquiring minds want to know. Who did you go with that appreciates your (our) business?

[Palo Verde, SASS # 56522]

B.C. Bob

 

NRA recommended : Payment Alliance International as the Card Processor.

 

There are a number of firearms friendly banks, but they may not be the one with a branch on the corner.

[BONEYARD BILL, SASS #39,030]

Gee whiz - pard - tell those big banks to shove it and go with a small bank (less than $500 million in deposits - preferably less than $250 million) - they will embrace your business and "knock your socks off" with good service.

 

- Boneyard Bill (33 years in retail banking with a bank of less than $125 million in deposits).

[Palo Verde, SASS # 56522]

B. Bill, I have some knowledge and interest in small banks, Bank of the Sierra to be specific -- now grown to 28 branches over the years

[Sagerider]

Palo Verde, you may want to contact Zions Bank as they are a bit more conservative than most. A smaller bank centered in Utah and Idaho but about to have a bank in the Phoenix area. I left Wells Fargo for them and have been pleased. Sagerider

[Marauder SASS #13056]

Isn't it amazing!

 

But I would guess that they would support Planned parenthood and other abortion business - where the casualty rate is over 50%

[Rooster Ron Wayne]

First, I am aware of the Dept. of Justice declaration that firearms related industries are "high risk" and the resultant effects on the firearms industry through the Banking Industry. I am also aware that the Department of Justice is an Administrative Agency. I am also aware that this may appear, on the surface, to be seat-of-the-pants judgement calls by bank employees not in the know -- but 'tis not appear so!

 

 

It it with dissappointment that I learned that my bank of many years (Chase Bank) does not wish to do business with those in the firearms business. This I learned while trying to establish a credit card processor and affiliate bank for a small business. I have had this small business for quite a while and my Company's bank account is with Chase. When this surfaced, they (Chase Branch) were "appalled" that I had a firearms business account with them and quickly announced they may have to make some "corrections" but did not wish that to effect my other accounts with them and J.P. Morgan (ya, right! ). Chase owns "Paymentec" as a credit card processor and, although neither I nor bank employees could discover any written Policy or Rules regarding such, I was assured that they strictly do not do business with the firearms industry because it is a "high risk industry".

 

 

I then tried another bank, Wells fargo (Authorize.net as card processor), which I had heard were firearms friendly -- not so! "oh, please transfer all of your other accounts to us, but not the firearms business -- ya, right!. they seem to miss the point.

 

With both banks, I did the usual: "Who is your supervisor's supervisor in the corp head quarters?" "who in the corp head quarters is in charge of this ?" etc. and went through the process of working my way up the line and continued to run into the brick wall policy and lack of anything in writing.

 

I can understand that Banks would not want to put any policy or rule into writing that could be quoted or pointed to and they could hope to simply state, if so challenged, "we do not have any policy against .....". Pretty small thinking, if they believe that would actually give them shelter.

 

I have resolved my quest but felt obligated to pass along this knowledge in case someone else was not aware. I strongly believe "boycotts" are an effective tool if enough people will participate. Do you realize how many people in the US own firearms?

 

I choose to take my business someplace else :-)

[Goatneck Clem]

PV

 

I know your frustration. I have been down the same road with Wells Fargo thru my card processor.. Have move all my holdings from Wells Fargo to else where. Good luck to you.

[The Original Lumpy Gritz]

Look to credit unions.

OLG

[Blackwater 53393]

I stumbled into a similar situation a couple of years ago with Square, the card handling company that works from your phone. Along with hats, I sold ammunition and occasionally I'd buy or sell a rifle or shotgun. The company informed me that they would no longer handle my transactions because of said sales. I replied that they could insert their little card reader where the sun didn't shine and went to PayAnywhere, who informed me that they would never make such ridiculous demands!!

 

You have to shop around! My hometown bank offers every possible banking function, handles all of my transactions and most of my financial needs, amnd is totally pro-gunowner!! I was pleasantly surprised!!!

[Don Coyote, SASS #63736]

PV, After your getting your PMs responding to mine regarding our local rock-star gunsmith & JP Morgan Chase banking services, I hafta' wonder how much that "non-written policy" being enforced by urban liberals in the big berg called metropolitan Phoenix is really a nationwide policy. Here in the hinterland of AZ, Chase has a large presence supporting small business. Being in the "gun" business here in northern AZ is not a bad thing, I guess.

[Palo Verde, SASS # 56522]

Don C.

ya, maybe so.

I know of a gun business that does business with Chaase and their CC processor, Paymentec,

I do not know if this is just done under the radar by a sales rep to make a commission, or if their is a different un-written policy.