Mission Valley Bank News

What You Might Want to Know about the “ATM CASH-OUT” Scheme

What You Might Want to Know about the “ATM CASH-OUT” Scheme

On August 12, 2018, Kreb’s On Security reported that “The Federal Bureau of Investigation (FBI) is warning banks that cybercriminals are preparing to carry out a highly choreographed, global fraud scheme known as an ‘ATM cash-out’, in which crooks hack a bank or payment card processor and use cloned cards at cash machines around the world to fraudulently withdraw millions of dollars in just a few hours.”

Since this initial report, news agencies around the globe have reported the story in an effort to forewarn ATM and Debit Card holders of the potential risk. …

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Posted by Mission Valley Bank in Fraud Alert, You & Your Money. Leave a Comment

Managing the Financial Health of Business

Managing the Financial Health of Business

Most independent business owners are challenged by having to play multiple roles with limited time. They put on – and take off – many management hats, often wearing them simultaneously. But the one that can never be shed is that of Financial Manager and Planner. With the responsibility of managing your company’s finances comes the requirement to understand them.

When viewed together, the balance sheet and income statement represent a complete and, hopefully, accurate financial picture of the company. Unfortunately, some businesses produce two or three sets of financial statements – one for the IRS, one for the banker, and one for themselves. Whatever the reasoning, it is important to remember that the worst possible person to kid is yourself. Every business owner needs clear, …

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Posted by Mission Valley Bank in Building Your Business, You & Your Money. Leave a Comment

Take Control with Online & Mobile Banking

Take Control with Online & Mobile Banking

Ever wonder how you can keep better track of your spending? Save money more easily? Bank more efficiently? Eliminate late-fee charges on your bills? Even help protect yourself from fraud? The solution for much of these is already right in your hands — Online and Mobile Banking.

These services give you the power to connect with your money anytime, anywhere, and offer tools and features to help you control your money more easily than ever before. You can:…

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Posted by Mission Valley Bank in Security, You & Your Money. Leave a Comment

CardValet® — A Quick & Simple Solution

CardValet® — A Quick & Simple Solution

Last March, Mission Valley Bank launched CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.

CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.…

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Posted by Mission Valley Bank in Getting Things Done, Security, You & Your Money. Leave a Comment

What Tax Reform Means for Small Business

What Tax Reform Means for Small Business
by Marianne Cederlind

What keeps business owners awake at night? According to the National Federation of Independent Businesses’ (NFIB) “Small Business Problems & Priorities Report,” five of the Top 10 issues directly relate to taxes. To give context, concerns regarding cash flow ranked a lowly 25 on the list, with business financing trailing at 69 and 70. The entire report can be viewed online at www.NFIB.

It is no surprise that articles and arguments abound about how the newest Tax Reform rules will affect businesses. From the smallest Mom & Pop shops to the Walmarts of the world, no business entity has been left out of the mix in this major tax overhaul. Whether a sole proprietorship, partnership, LLC, C Corp or S Corp, change

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Posted by Mission Valley Bank in Client & Community Education, You & Your Money. Leave a Comment

7 Ways to BOOST Business Cash Flow

7 Ways to BOOST Business Cash Flow

What's the key to having a successful and long-standing business? Does it involve having a revolutionary product or idea? Possessing specialized expertise to offer a needed service? While those things are important, the most critical factor that contributes to business success is how well you manage your cash flow.

Yes, cash flow really is king. You can have the most innovative product on the market or be the most experienced service provider in your area, but if you can't manage the money that flows in and out of your business, your business won't be successful — or be around for long.

Here are seven ways you can boost your cash flow — and your chances of business success.                                                                              …

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Posted by Mission Valley Bank in Building Your Business, You & Your Money. Leave a Comment

Seismic retrofitting is not for the faint of heart

Seismic retrofitting is not for the faint of heart

What happens in Los Angeles often impacts surrounding communities. Specifically, the earthquake safety laws signed in October 2015 by Los Angeles Mayor Eric Garcetti are considered to be the toughest in the nation. It requires that the owners of an estimated 15,000 buildings most at risk of collapse during a major quake make the structures stronger.

The affected properties include non-ductile concrete buildings (not including detached single-family homes or duplexes built before 1977) and wood-frame apartment complexes built on top of carports. Property owners will have seven years to fix wood apartments and 25 years to fix concrete buildings under the new ordinance.

Considering Los Angeles sits in the heart of California earthquake country, the ordinance ends years of debate on whether the City of …

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Posted by Mission Valley Bank in Getting Things Done, You & Your Money. Leave a Comment

Trusted Advisors

Trusted Advisors

Trust can be an overused word in the business world but a necessary concept. Through what seems like an endless stream of advertising messages, we are asked to trust products and brands. Politicians ask for our vote of confidence at the polling place. It can be both emotional and logical. Emotionally, vulnerabilities are exposed with the belief people will not take advantage of that openness. Logically, we assess the probabilities of gain and loss, calculate expected utility based on hard performance data, and conclude that the person or entity in question will behave in a predictable manner. In practice, trust is often what matters most. It is the fabric that binds employees to employers, customers to companies, and companies to their suppliers and partners.

When …

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Posted by Mission Valley Bank in Building Your Business, Client & Community Education, You & Your Money. Leave a Comment

More About Identity Theft Today

More About Identity Theft Today
by Marianne Cederlind 
Executive Vice President and Chief Business Banking Officer
Mission Valley Bank

 

Dependent as we are on computers and mobile devices, it’s no surprise that cyber criminals are getting craftier developing new scams aimed at getting more people to give them more of their money. The following are important trends to be aware of to keep fraudsters from separating you and your money.

Consumer loss at nearly $500 million

Last year, total consumer losses approached a half billion dollars. Individual losses averaged $4,187 per fraud.   Safety tip: Studies show that those who monitor their accounts online often detect fraud earlier than those who rely solely on paper statements. READ MORE --

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Posted by Mission Valley Bank in Client & Community Education, Cyber Security, You & Your Money. Leave a Comment

Take Control of Your Money Online

Take Control of Your Money Online

Ever wonder how you can keep better track of your spending? Save money more easily? Bank more efficiently? Eliminate late-fee charges on your bills?

The solution for all of that is in your hands — with Online Banking.  While most of us frequently use Online Banking -- we're not taking advantage of all of the benefits it can provide.

These services give you the power to connect with your money anytime, anywhere, and offer tools and features to help you control your money more easily than ever before. You can:

Monitor your accounts, 24/7. Keeping track of your money is key to successful financial management. And with the growth in identity theft, it's also essential for ensuring the security of your accounts. With Online Banking, …

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Posted by Mission Valley Bank in Client & Community Education, Getting Things Done, You & Your Money. Leave a Comment

Mission Valley Bank Launches CardValet®

Mission Valley Bank Launches CardValet®

Mission Valley Bank is excited to introduce CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.

CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.…

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Posted by Mission Valley Bank in Client & Community Education, MVB News, Security, You & Your Money. Leave a Comment