Is "Electronic Withdrawal Adp 401k" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

What is "Electronic Withdrawal Adp 401k"?

ADP, also known as Automatic Data Processing, Inc., has been in business since 1949. The company provides a range of human resources, payroll, tax, and benefits administration solutions. ADP's products include payroll processing, talent management, and workforce management services. They also offer insurance services and compliance solutions to businesses of various sizes. ADP serves a diverse set of industries and aims to streamline complex HR processes through its technological platforms.

  • Electronic Withdrawal: A withdrawal was made electronically.
  • ADP: Automatic Data Processing, a payroll and human resources company.
  • 401k: Retirement plan account type.

    • 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.

    SimplyWise Community Comments
    Transaction codes from ADP
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