Is "BUSINESS TO BUSINESS ACH IPFS866-412-2565 IPFSPMTO" fraud?

Written by Piper Hall

June 18th, 2024

Medium Risk

What is "BUSINESS TO BUSINESS ACH IPFS866-412-2565 IPFSPMTO"?

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.

  • BUSINESS TO BUSINESS: Indicates the type of transaction.
  • ACH: Denotes that the transaction was carried out through the Automated Clearing House network.
  • IPFS866-412-2565: Could be the identifier and contact number of the party initiating or facilitating the transaction.
  • IPFSPMTOKC: Likely a specific code or identifier relevant to the payment or the originating organization.
  • 476930: Possible transaction or reference number.
  • JOHN DOE AND JE: Names of the individuals or entities 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.

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