Business Sense

Protect Business and Personal Accounts

Tuesday, May 24, 2016

FDIC reports indicate a continued increase in small business bank account takeovers that result in illegal money transfers from bank accounts. The most common cause of small businesses being vulnerable is simply lack of knowledge about how these things can happen. Without knowing about the common ways that electronic thieves can gain access to your account they sometimes fall for tricks like fake emails requesting account information or imposter websites that scam you into thinking they can be trusted.

Small business owners are often surprised to learn that they are not covered by FDIC consumer protection laws that require banks to refund victims of electronic fraud. If you have not taken steps to protect your business it is very unlikely that your bank would refund money that was stolen from the business as a result of falling for commonly known digital tricks. Take steps today to begin learning about where your business, or indeed your personal accounts, might be at risk.

The FDIC is a good place to start. To read articles with lots of tips Click Here.

*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.


New Year Planning

Thursday, January 14, 2016
This is the time of year when many business owners relish the opportunity to take a fresh look at both their business and personal finances.

Whether it’s evaluating vendor relationships, reviewing the need for investment in new equipment and staff training, or re-evaluating personal retirement objectives, now is the time to focus on making the new year more profitable than the year before.

For some valuable tips on planning for the new business year ahead, read this informative article at investopedia.com.


*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

The Best Defense is a Good Offense

Monday, October 19, 2015

Identity theft is a sad reality in today's online world. Being both prepared and proactive are critical when trying to protect yourself from those looking to steal your identity. The best way to begin that process is by having a plan. If you are not already subscribed to an identity theft monitoring service, you may want to consider including one as part of your plan. Since an initial issue can develop rapidly into a much larger problem, costing you a lot of time and money to rectify.

Please click on the Link below to review a recent ABC News online article with lot's of great information and tips for being prepared to deal with this ever growing threat.


Read More

On Fortune Magazine: Cybersecurity for Small Business

Sunday, July 19, 2015

Small firms need cybersecurity companies that can provide affordable solutions. 

With the disturbing revelation that a hacker may have infiltrated the computer systems of a United Airlines flight and possibly interfered with its navigation, the issue of cybersecurity should take on a new sense of urgency.


This comes on the heels of many other recent high profile breaches. Hackers stole the credit card information of 70 million customers from retail giant Target in 2013 and 56 million from Home Depot in 2014; this year, health insurer Anthem announced that cyber thieves swiped 80 million social security numbers from its computers; and last year, online auction site eBay suffered an intrusion that left 145 million user records compromised.


READ ARTICLE


*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

The Recovery

Friday, April 24, 2015
Most Americans are feeling pretty good this spring. The economic outlook is the best it’s been in years and people have more money in their pockets. 

Retail businesses are benefitting from the cheap credit that shoppers have at their disposal, and businesses are hiring again. Even though the economy is not at full strength, it is clearly on the right path with good forecasts for 2016 and beyond. 

Small businesses have been hunkered down for years, but many are realizing that now is the time to take advantage of this economic growth and invest in their businesses again.


*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

Protect Your Business From Social Engineering Attacks

Wednesday, February 18, 2015

Social engineering is the art of manipulating people into revealing confidential details that criminals can then use to gain access to secure personal and business information.

The techniques used are sophisticated and quite convincing. Thousands of people willingly give up passwords, usernames, social security numbers and much more.

It’s based on the notion that it’s easier to exploit individuals directly than it is to try and hack into their account because security features on computers and smart phones have become much more effective.

Click Here to Read More

*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

Business Loan Tips

Tuesday, November 18, 2014

Applying for a business loan can be a challenge and being turned down a real disappointment. Even if you have a sound business proposition, not understanding what bankers look for when considering an application can cause problems. 

Do you have a relationship with the bank you are applying to? Can you clearly explain the value proposition of your business? What about contingencies to repay the loan should things not work to plan? 

Having your application turned down is often the result of not being properly prepared or being unable to present your business plan effectively. Read the following two articles for some in-depth advice to make sure your next loan application is successful!

Tips for Small Bank Loans

4 Ways to Get a Business Loan 

*By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

What do You Look For When Shopping for a Bank?

Thursday, July 31, 2014

Your Bank is more than just a place to process checks and deposit money. Most business owners spend more time shopping for office equipment than they do shopping for a Bank.


Whether you are considering a new bank or wondering if your existing bank is right for you, ask the following questions: Does your local banker have lending authority? What about their understanding of your local economy and your unique business needs? Will the bank you are considering meet your needs in the future as your business grows and develops?


Before choosing a new bank, make an appointment with one of their bankers and see if you feel comfortable with them. Go over their products and services to make sure their fees and charges are clear. Transparency is the first step towards trust and a strong relationship.


Read More Here

* By clicking the above links you will be leaving the Flagship Community Bank website. Flagship Community Bank does not endorse, monitor or review the site you are going to, nor are we responsible for its contents. You should note that the site’s privacy and security policies may be different to ours. We recommend that you review their policies.

Security Tips for Remote Deposit

Tuesday, May 13, 2014

If you are a current business user of Remote Deposit Capture or are considering this convenient method for depositing checks without leaving your office, don’t forget security!

  • Is the location of your equipment secure?

  • Who has access and/or authorization to use the equipment?

  • Do you store original documents in a secure location?

  • How often are you shredding orginal documents?

  • What is the quality of your scanned images, can they be easily read?

  • Do you have a procedure in place to protect duplicate scanning?

For more information on the benefits and security of Remote Deposit Capture, feel free to give us a call: (727) 451-2020

Saving Time and Money With Remote Deposit

Wednesday, April 30, 2014
It’s smart business to find new ways to reduce operating costs and increase profitability. Companies that routinely receive payment for goods and services by check can now reduce the cost of transporting those checks to their bank and gain faster access to those funds by taking advantage of one of latest time saving business technologies: Remote Deposit Capture (RDC).

RDC is easy to use – you simply scan the checks using the equipment provided by your bank and the funds will be directly deposited into your account over a secure online connection. That means no more trips to the bank to deposit checks or standing in long teller lines, saving both time and money.

For more information about Remote Deposit Capture:


Remote Deposit Capture - A Primer




NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS 

EFFECTIVE JANUARY 1, 2013

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit www.fdic.gov.


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