Is "ACH Debit - IpfsXXXXXXXXXXXX Ipfspmtcab XXXXXXXX" fraud?

Written by Julian Sanchez

June 18th, 2024

Medium Risk

What is "ACH Debit - IpfsXXXXXXXXXXXX Ipfspmtcab XXXXXXXX"?

IPFS (InterPlanetary File System) is a peer-to-peer network protocol for storing and sharing data in a distributed file system, not a retail merchant. It was developed by Protocol Labs, which was founded in 2014. IPFS is utilized for decentralized storage and sharing of files, websites, applications, and other data across multiple nodes in a network. It aims to make the web faster, safer, and more open.

**ACH Debit**: Automated Clearing House transaction; funds are debited from an account.

**IpfsXXXXXXXXXXXX**: Indicates the name of the service or company initiating the transaction, in this case, Ipfs.

**Ipfspmtcab**: Code identifying the specific transaction type or purpose related to Ipfs.

**XXXXXXXX**: Unique transaction reference or identifier.

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.