Is "ACH Debit - Acorns Later Transfer 11192468" fraud?

Written by Caleb Martin

June 18th, 2024

Medium Risk

What is "ACH Debit - Acorns Later Transfer 11192468"?

Established in 2012, Acorns is a financial technology and financial services provider. It offers a micro-investing platform with features including automated investment in a portfolio of exchange-traded funds (ETFs), arranged in five different types of portfolios. In addition, Acorns provides a checking account service with a debit card offering that assists customers in making wise monetary decisions. Besides that, they provide a cash-back program where users can earn as they shop with Acorns’ 350+ partners.'

ACH Debit: It indicates that the transaction was made using the Automated Clearing House (ACH) system, which is a network used for electronic money transfers.

Acorns Later Transfer: It refers to the specific type of transaction being made, in this case, a transfer related to the Acorns Later investment account.

11192468: It is the unique identification code or reference number associated with the transaction. This number helps in identifying and tracking the specific transaction in the bank's system.

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.