Is "ACH Debit - Genesis-fs Card Payment XXXXXXX" fraud?

Written by Ava Morales

June 18th, 2024

Medium Risk

What is "ACH Debit - Genesis-fs Card Payment XXXXXXX"?

Genesis Financial Solutions has been in business since 2001. The company specializes in consumer financing solutions that target non-prime and near-prime consumers. Their product offerings include credit cards and personal loans designed for individuals with less-than-perfect credit histories. They work with retailers and health care providers to offer financing options that allow customers to make purchases and manage expenses. The company also provides financial tools that assist consumers in improving their credit scores.

ACH Debit: Automated Clearing House transaction, indicating an electronic payment or money transfer

Genesis-fs: The name of the financial services company or issuer involved in the transaction

Card Payment: Specifies the nature of the transaction as a payment made by or to a credit or debit card

XXXXXXX: A reference or unique transaction identifier number

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.