Is "PaySpot Inc MERCH ACH" fraud?

Written by Julian Sanchez

June 18th, 2024

Medium Risk

About "PaySpot Inc MERCH ACH"

Payspot Inc. has been in business since 2003. The company specializes in providing a range of financial services, including payment processing solutions, mobile top-ups, and bill payment services. Payspot Inc. operates through a network of retail locations and online platforms, catering to diverse consumer needs. The company aims to facilitate seamless financial transactions for its customers.
  • PaySpot Inc: Company or merchant name
  • MERCH: Indicates the type of transaction, typically short for "Merchant"
  • ACH: Payment method, standing for "Automated Clearing House"
  • 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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