How to Detect Skimming Devices
At FMS Bank, we're not just Partners in Your Success but Partners in Your Financial Security. We want to make sure that you’re protected from credit card skimmers. Credit card skimmers are illicit devices attached to card readers, such as those at ATMs or gas pumps, designed to secretly capture and store card information from unsuspecting users, enabling fraudsters to steal personal and financial data. Here are our top tips for spotting and avoiding credit card skimmers: Any signs of tampering? Loose parts or wonky colors? Trust your gut – if something feels off, walk away. Privately owned ATMs are…
Cash Flow is King
We’ve all heard the mantra that cash is king. But when it comes to loans, if you had the cash, you wouldn’t need a loan. So, what does a bank consider “king” when making a decision on whether they should extend a loan or not? They usually rely on something called the “5 C’s” as the foundation for their underwriting approach. A quick search on Google can show you a list of these along with some helpful tips on how to address each section, but here is the list with a quick description of what each address: Character: What does…
“…if it ain’t got that swing!”
One of the most common business loan requests we get as bankers is a line of credit request. While the loan structure itself isn’t that complicated, determining exactly how much is needed can be a little more complicated. Because loan terms can be slightly different across the industry, we will consider a line of credit as any type of loan where the borrower may request disbursement of funds at some date other than the closing date. Lines can be closed-end which means that once they are drawn up once, they can’t draw that amount again. Lines can also be open-end,…
Protecting Your Devices: Simple Steps for Everyday Technology Security
Author: Mike Justice, FMS Bank Chief Technology Officer As technology becomes more and more integrated into our daily lives, it's important to take steps to ensure the security of our devices. From smartphones to laptops, it's crucial to keep our personal and sensitive information safe. Here are some simple and practical tips to help you safeguard your technology: Use strong passwords and enable two-factor authentication. This adds an extra layer of security to your accounts. Keep your software and operating systems up to date. Software updates often contain security patches to fix vulnerabilities. Use antivirus software and firewalls. These tools…