Is "INTEREST CHARGE-CURRENT PURCHASES" fraud?

Written by Piper Hall

June 18th, 2024

Medium Risk

What is "INTEREST CHARGE-CURRENT PURCHASES"?

Current is a financial technology company that has been operating since 2015. The company primarily provides banking services through a mobile app platform. Products offered include financial services such as checking accounts, savings accounts, and debit cards. Current also enables users to manage their finances through features like direct deposits, financial insights, and cash-back rewards. The company does not operate physical retail locations, focusing instead on providing a digital banking experience.

**INTEREST CHARGE**: The cost imposed by the bank for borrowing money, calculated as a percentage of the outstanding balance.

**CURRENT PURCHASES**: The interest applied specifically to recent transactions made using the credit card or account.

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.