Is "ACH HOLD SAMS CLUB PAYMENT ON 10/04" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

What is "ACH HOLD SAMS CLUB PAYMENT ON 10/04"?

Sam's Club, a membership-only retail warehouse club, is a division of Walmart Inc. Established in 1983, it has been in business for over three decades now. The company provides a broad range of products in its retail units including groceries, electronics, home goods, pharmacy, tyres, jewelry, among others. In addition to these, it also offers services such as financial and health services."

  • ACH: Automated Clearing House, a network used for electronic financial transactions in the United States.
  • HOLD: Indicates that the payment is on hold, meaning it has not been processed or finalized yet.
  • SAMS CLUB: The company or organization to which the payment is being made.
  • PAYMENT: Denotes that the transaction is a payment being made.
  • ON 10/04: Indicates the date on which the payment is scheduled to be processed.

    • Verify if this transaction is fraud in 30 seconds

    Verify With Receipt

    The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.
    Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

    STEP 1

    Connect your Email

    Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

    STEP 2

    Connect Your Bank

    Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

    STEP 3

    Reconcile

    Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.

    SimplyWise Community Comments

    Harper Mitchell

    I just noticed an ACH HOLD SAMS CLUB PAYMENT on my statement from 3/15/2024. Should I be concerned about it? Any insights or advice? Thanks!

    Harold Morrison

    Worried about ACH HOLD SAMS CLUB PAYMENT on 6/15/2023. Anyone else seen this? Any advice on how to handle it? Thanks in advance!

    Transaction codes from Sam's Club
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