Is "My Paycheck settlement" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

About "My Paycheck settlement"

My Paycheck has been in business since 2012. The company provides a variety of retail financial services and products to its customers. These include payday loans, installment loans, and title loans. They also offer check cashing services, prepaid debit cards, and money transfer services.
  • My: Indicates that the transaction is associated with the account holder.
  • Paycheck: Indicates that the transaction is related to payroll or salary.
  • Settlement: Indicates that the transaction is a finalization or clearing of the payment.
  • 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.
    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 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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