Is "POS Withdrawal (FIP) CASH SAVER / 123 MAIN St(5471" fraud?

Written by Remi Russell

June 18th, 2024

Medium Risk

What is "POS Withdrawal (FIP) CASH SAVER / 123 MAIN St(5471"?

Cash Saver is a supermarket chain that has been in business since 2011. The company operates on a cost-plus pricing model, where products are sold at cost with an added percentage to cover overhead and profit. Cash Saver provides a variety of retail products, including groceries, fresh produce, meats, dairy products, and household items. The company also offers a range of private-label brands alongside national brands. Cash Saver focuses on providing essential goods to its customers at competitive prices.

POS Withdrawal: Point of Sale transaction where funds were withdrawn.

(FIP): Financial Institution Processor code, indicating the bank or processor associated with the transaction.

CASH SAVER: Name of the merchant or retailer where the transaction took place.

123 MAIN St: Address of the merchant or retailer.

(5471): Merchant Category Code (MCC) which represents the type of business or service provided by the merchant.

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.