Is "PAYPAL TRANSFER COINBASEINC WEB ID: PAYPALCRYP" fraud?

Written by Sage Wallace

June 18th, 2024

Medium Risk

What is "PAYPAL TRANSFER COINBASEINC WEB ID: PAYPALCRYP"?

Coinbase was established in 2012 as a digital currency wallet and platform. The company provides a venue for consumers and merchants to transact with new digital currencies like bitcoin, ethereum, and litecoin. They offer a range of services including digital currency wallets, an exchange for digital currencies, and merchant tools for businesses to accept digital currency payments.'

PAYPAL: The payment was made through PayPal

TRANSFER: This indicates that it was a transfer of funds

COINBASEINC: The recipient of the transfer is Coinbase Inc

WEB ID: The transaction was made online

PAYPALCRYP: This may indicate that the payment was related to cryptocurrency in some way

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.