Is "VANGUARD BUY INVESTMENT PPD ID: VMC PUR" fraud?

Written by Piper Hall

June 18th, 2024

Medium Risk

What is "VANGUARD BUY INVESTMENT PPD ID: VMC PUR"?

Vanguard has been in business since its founding in 1975. The company primarily provides investment management services. Their retail products include mutual funds, exchange-traded funds (ETFs), and brokerage services. Vanguard also offers retirement planning and advice, as well as various financial products for individual and institutional investors.

  • VANGUARD: Name of the financial institution or company involved in the transaction.
  • BUY: Type of transaction or action taken (Purchase).
  • INVESTMENT: Context or category of the transaction (Investing activity).
  • PPD: Entry class code indicating a prearranged payment and deposit (automated clearing house transaction).
  • ID: Identifier tag for additional details of the transaction.
  • VMC: Specific identifier or code related to the transaction or institution.
  • PUR: Indication of the nature of the transaction (Purchase).
  • 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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