Is "ACH Debit - Wealthfront Edi Pymnts XXXXXXX" fraud?

Written by Ava Morales

June 18th, 2024

Medium Risk

What is "ACH Debit - Wealthfront Edi Pymnts XXXXXXX"?

Wealthfront is a financial technology company that has been in business since 2008. The company offers a range of retail products including automated investment management, financial planning, and banking services. Wealthfront provides portfolio management through index funds and utilizes a robo-advisor for wealth management. The company also offers cash accounts with interest and the ability to automate savings.

  • ACH Debit: Automated Clearing House debit transaction
  • Wealthfront: The entity initiating the debit
  • Edi: Electronic Data Interchange
  • Pymnts: Payments
  • XXXXXXX: Unique transaction identifier or account number
  • 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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