Is "Electronic Withdrawal - CONCORA CREDIT TELECHK - P" fraud?

Written by Ava Morales

June 18th, 2024

Medium Risk

What is "Electronic Withdrawal - CONCORA CREDIT TELECHK - P"?

Concora Credit has established itself in the financial services industry. The company has been in business for several years, focusing on providing a variety of credit solutions. Its retail products include credit cards, personal loans, and credit lines designed to meet diverse financial needs. Concora Credit also offers services such as credit monitoring and financial advisory to help customers manage their credit health. The company operates through both online and physical branches, aiming to serve a broad customer base.

Electronic Withdrawal: Method of transaction

CONCORA: Merchant or company identifier

CREDIT: Type of account or adjustment

TELECHK: Payment method (Telecheck)

PAYMENT: Purpose of transaction

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.