What bank accounts and services does a small business need? What financial tools are available for small business owners who are just starting out? How can a relationship with a local business banker help you be proactive in operating your business?

Starting off Season 3 of Financial Cents, Chris Sarver, vice president and business banking team lead at National Bank of Arizona, joins host Brent Cannon, executive vice president and director of community banking at National Bank of Arizona, to discuss the 5 most important accounts and services a small business owner needs for their business.

Though a business checking account may be the starting point for any business owner, a business credit card can help manage the cash flow cycle, treasury management can help the business pay vendors and get paid by clients quickly and efficiently, and lending can help the business expand. But perhaps the most important service a business owner can have is a relationship with their local business banker.

Need a business banker for your business? https://www.nbarizona.com/business/

#banking #business #smallbusiness

All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part. The information contained in this podcast does not constitute research, recommendations, representations or warranties as to the accuracy or completeness of the statements of any information contained in this podcast and any liability from Zions Bancorporation, N.A. or its divisions (including direct, indirect, or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast may not be those of Zions Bancorporation, N.A. or any of its divisions. Zions Bancorporation, N.A. is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of advice, investment or otherwise, by Zions Bancorporation, N.A. to that listener, nor to constitute such person a client of Zions Bancorporation, N.A. Credit card accounts are subject to credit approval. Certain terms, conditions, and restrictions apply. See the credit card application and disclosures for more details. Offers are available for new credit card accounts only and subject to change at any time. Loans subject to credit approval. Certain terms, conditions and restrictions apply; contact bank for details. SBA Loans are subject to credit approval and SBA approval. Terms and conditions apply. See banker for details. Terms, conditions and fees apply for Treasury Management Solutions and Positive Pay. Contact a banker for details. Merchant Services products and services are provided by Clover affiliate First Data Merchant Services LLC and not by National Bank of Arizona, a division of Zions Bancorporation, N.A. Member FDIC. Remote Deposit Service is subject to credit approval. Terms and conditions apply. Certain hardware and software requirements may apply. Remote Deposit Capture and Business Mobile Remote Deposit Capture require enrollment in the Treasury Management Remote Deposit Capture service. Acceptance of Client Agreements is required for Remote Deposit Capture service and a User Agreement must be accepted by each mobile application user. Service and transaction fees apply. Fee may apply for early termination. Subject to data coverage. Message and data fees from your wireless provider may apply. See a banker for full details. Copyright reserved by Zions Bancorporation, N.A. National Bank of Arizona is a division of Zions Bancorporation, N.A. Member FDIC.

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What is a 501(c)(3) organization and how can a nonprofit obtain that status? What bank accounts and financial tools and accounts do nonprofits need? And why do nonprofits need a board of directors and what goes into serving on one? With nonprofits playing such a vital role in our community and economy,

In this episode of Financial Cents, Melissa Steimer, CEO of the nonprofit Gabriel’s Angels, joins Pamela Keefe, vice president, nonprofit relationship manager, and Brent Cannon, executive vice president, director of community banking at National Bank of Arizona, to discuss the challenges facing nonprofits today and how the right financial tools and solutions can help nonprofits overcome those challenges.

As Melissa discusses, nonprofits must follow certain regulations – not just to maintain their 501(c)(3) tax exempt status, but to ensure they are providing for their communities – which can make day-to-day business operations tricky. “At the end of the day, a nonprofit does make a profit,” says Melissa. “The biggest difference here is that the profit is not going to shareholders or an owner or other individuals, it’s going back into carrying out the nonprofit’s mission. That’s where the community good comes from.”

And given that the funds a nonprofit generates comes from donations, grants, and other sources that can be seasonal or short-term, it’s all that much more important to have the right tools and board leadership in place. “It’s not just about having a bank account created for nonprofits, it’s also about having fraud prevention tools in place, like Check Positive Pay¹. Having other tools to create efficiencies, like ACH for payroll and vendor payments, and a credit card.”

Financial Cents is hosted by Brent Cannon and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Interested in learning more about Nonprofit Banking? Learn more about our Nonprofit Banking solutions and connect with a banker here: https://www.nbarizona.com/business/specialty-banking/non-profit-banking/.

Get involved or donate to Gabriel's Angel's: https://www.gabrielsangels.org/.

(1) Terms, conditions and fees apply. Contact a banker for details.

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How does fraud impact small businesses? What are the most common types of business fraud? And how can a business owner protect their business from fraud? With business fraud on the rise, it’s becoming not a matter of if a business will be impacted – but when.

In this episode of Financial Cents, Katherine Cobb, senior vice president, manager of the Cybersecurity Operations Center at Zions Bancorporation, joins host Brent Cannon, executive vice president, director of community banking at National Bank of Arizona, to discuss the impact of business fraud, how the most common types of business fraud work, and what business owners can do to protect their businesses. Because according to Katherine, small businesses make ideal targets for fraudsters since they often don’t have the resources or controls in place to protect themselves.

Many of the most common types of business fraud we see today are designed to exploit our reliance on digital communication. Business email compromise is where a fraudster impersonates a business’s vendor and sends the business updated payment instructions so the business wires their money to the fraudster’s account. Another common type of fraud is CEO fraud, which is when a fraudster impersonates the CEO or other company executive and emails a low-level employee with instruction to wire money to the fraudster. Other types of fraud that are prevalent today include phishing and spearphishing, vishing, smishing and check fraud.

Regardless of how the fraud is perpetrated, there are things businesses can do to protect themselves. “The biggest thing I would say is for business owners put a callback system in place along with a dual control system,” says Katherine. “That way, any payment changes are verified directly with the vendor and there’s always a second employee who can act as a check and balance.” In addition, banking products like Check Positive Pay(1) can also help business owners protect themselves.

Financial Cents is hosted by Brent Cannon and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Interested in learning more about how we can help you mitigate business fraud? Contact a banker: https://www.nbarizona.com/personal/schedule-appointment/

All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part.

The information contained in this podcast does not constitute research, recommendations, representations or warranties as to the accuracy or completeness of the statements of any information contained in this podcast and any liability from Zions Bancorporation, N.A. or its divisions (including direct, indirect, or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast may not be those of Zions Bancorporation, N.A. or any of its divisions. Zions Bancorporation, N.A. is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of advice, investment or otherwise, by Zions Bancorporation, N.A. to that listener, nor to constitute such person a client of Zions Bancorporation, N.A. See your banker for Treasury Management product details and schedule of fees. Certain Treasury Management Services may require credit approval; contract may also apply. Must be enrolled in Positive Pay. Terms, conditions and fees apply

Check out more content Financial Cents content by visiting: https://www.nbarizona.com/financial-cents/