Is "ACH WEB IC* INSTACART PAYPAL INST XFER" fraud?

Written by Piper Hall

June 18th, 2024

Medium Risk

What is "ACH WEB IC* INSTACART PAYPAL INST XFER"?

Instacart is a grocery delivery and pick-up organization that began operations in 2012. The American-based company works with several major grocery retailers to deliver foods

  • ACH: Automated Clearing House, a system for electronic funds transfers between bank accounts.
  • WEB: Indicates that the transaction was initiated through a website or online platform.
  • IC*: Abbreviation for the company or service involved, in this case, Instacart.
  • INST: Short for "instant," indicating that the transfer was processed immediately.
  • XFER: Refers to a transfer of funds between accounts.
  • PAYPAL: Indicates that the transaction was conducted using PayPal as the payment method.

    • 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.
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