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Is "SYNCB PHONE PAYMENT" fraud?

Written by Jemina Owen-Jones

April 18th, 2024

About "SYNCB PHONE PAYMENT"

Synchrony is a financial services company that has been in business since 2003. They specialize in providing private label credit cards, co-branded credit cards, and installment loans to a variety of retail sectors. The company offers financing options for customers of various merchants, including major retailers in industries such as home furnishings, electronics, and automotive. Synchrony's services primarily revolve around helping consumers afford their purchases through flexible payment solutions.
  • SYNCB: This is the name or abbreviation of the bank or financial institution involved in the transaction.
  • PHONE PAYMENT: This indicates that the transaction was made using a phone payment method. (Note

    • 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 Synchrony.
    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
    Harrison Montgomery
    3 months ago
    Just saw this SYNCB PHONE PAYMENT charge on my statement. Not sure what it's for, but definitely didn't make this purchase. Anyone else? #confused
    Eleanor Sinclair
    3 months ago
    Hey, I found a weird charge too! Called my bank and they're looking into it. Better be safe than sorry, right?