Written by Jemina Owen-Jones

April 18th, 2024


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: Automated Clearing House, a network that facilitates electronic funds transfers between banks.
  • WEBRECUR: Indicates a recurring payment made via web-based ACH transaction.
  • XXXXX0001: Unique identifier for the specific transaction. The Xs represent obscured characters, and the numbers may vary depending on the payment details.
  • VERIZON PAYMENTREC: Specifies the recipient or payee of the payment as Verizon. The "PAYMENTREC" likely stands for payment received.
  • 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 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
    Henry Baker
    3 months ago
    Oh man, just saw a charge from ACH WEBRECUR XXXXX0001 VERIZON PAYMENTREC on my statement! What the heck is this about? Anyone else got any info? #confused #help