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Is "BMW BANK BMWFS PYMT PPD ID: 0870631885" fraud?

Written by Piper Hall

June 18th, 2024

About "BMW BANK BMWFS PYMT PPD ID: 0870631885"

BMW, or Bayerische Motoren Werke AG, has been in business since March 7, 1916. The company focuses on the manufacturing of automobiles, motorcycles, and engines. In the automotive sector, BMW produces a range of vehicles including sedans, SUVs, and sports cars. The motorcycle segment includes a variety of models catering to different riding styles such as touring, sport, and urban. Additionally, BMW offers electric and hybrid vehicle options. The company operates globally with production facilities located in several countries.
  • BMW BANK: Bank name associated with the transaction
  • BMWFS: BMW Financial Services, indicating the payment is related to BMW Financial Services
  • PYMT: Abbreviation for "payment"
  • PPD: Prearranged Payment and Deposit, indicating an automated ACH transaction
  • ID: 0870631885
  • Find & fight fraud from anywhere

    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 BMW.
    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.
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