Are there any institutions out there that charge a special fee (above and beyond regular monthly account fees) for MSB accounts? I know some institutions are doing this for marijuana-related businesses, but has anyone heard of institutions doing this for MSBs?

Thanks for any responses.

Yes we do.

I know a number of banks who do.

This is a common practice for banks that have MSB customers because they know they are more cost intensive for the bank.

You have a lot of monitoring and additional costs, the bank should cover their costs.

You can have unique fees for NBFI's, MSBs, TPPP's, cosmetologists, and alligator farms if you want to.

Hmmmm, alligator farms can be challenging when counting and verifying tag numbers on the collateral.

Exactly! In Florida, they also have registration requirements sort of like MSB's do.

A Southern Anon: Speaking of Florida, that's one place that has a TON of MSBs and from what I hear, MSBs would be shocked to find a Florida bank that WASN'T charging a hefty MSB fee.