Is "Electronic Withdrawal Fid Bkg Svc Llc" fraud?

Written by Caleb Martin

June 18th, 2024

Medium Risk

What is "Electronic Withdrawal Fid Bkg Svc Llc"?

Fidelity Investments was established in 1946. The company provides a range of financial services and investment products. Their offerings include mutual funds, retirement planning, wealth management, life insurance, and brokerage services. Fidelity also provides investment advisory services and operates various platforms for trading and managing investments. They cater to both individual investors and institutional clients, offering customized financial solutions based on specific needs.

**Electronic Withdrawal**: Indicates that the transaction is an electronic withdrawal from the account.

**Fid**: Likely an abbreviation, potentially referring to a financial institution such as Fidelity.

**Bkg**: Indicates 'Banking'.

**Svc**: Stands for 'Services'.

**Llc**: Limited Liability Company, indicating the business entity involved in the 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.