Is "Withdrawal Limit Fee Refund" fraud?

Written by Lily Tran

June 18th, 2024

Medium Risk

What is "Withdrawal Limit Fee Refund"?

Limit is a company specializing in the production and sale of wristwatches. The company has been in business for several decades, focusing on providing a variety of timepieces to meet different consumer preferences. Their product range includes analog watches, digital watches, and smartwatches. In addition to wristwatches, Limit also offers a selection of watch accessories such as replacement straps and watch care products. Limit's retail offerings are available through various channels, including online platforms and physical stores.

  • Withdrawal: Action implies the transaction involves removing funds from an account.
  • Limit: Indicates the transaction is related to a maximum threshold or boundary.
  • Fee: Refers to the charge applied for a specific service.
  • Refund: Signifies the return of previously charged fees or money back to the 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.

    SimplyWise Community Comments
    Transaction codes from Limit
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