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Is "ACH Debit - Verizon Paymentrec 3100003" fraud?

Written by Jemina Owen-Jones

April 18th, 2024

About "ACH Debit - Verizon Paymentrec 3100003"

Verizon is a telecommunications company that has been in business since 2000. They provide a range of retail products including wireless plans, smartphones, tablets, accessories, home internet, and digital TV services.
  • ACH Debit: It indicates that the transaction is an Automated Clearing House (ACH) debit, which means that funds were electronically withdrawn from the user's bank account.
  • Verizon Paymentrec: It is the name or reference of the beneficiary, in this case, Verizon.
  • 3100003: It is the transaction code or reference number assigned to 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 Verizon.
    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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