Is "CONSUMER DEBIT MSI INSURANCE" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

What is "CONSUMER DEBIT MSI INSURANCE"?

Millennial Specialty Insurance is a company that has been in business for several years. The company provides various insurance products catered to specialty markets. Their portfolio includes niche insurance solutions such as coverage for manufactured homes, motor homes, and vacant properties. They also offer products that cover events, short-term rentals, and other specialized insurance needs. The company's focus is on offering customizable and tailored insurance options to meet specific requirements of different client bases.

  • CONSUMER: Transaction type indicating the activity involves a consumer account.
  • DEBIT: Indicates that the transaction is a withdrawal or payment.
  • MSI: Likely a shorthand or acronym for the entity or service involved in the transaction.
  • INSURANCE: Specifies that the transaction relates to an insurance payment or policy.

    • 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

    Violet axlen

    Why am i.seeing.more.than one wothdrawal.from.my account in a week.period.for the same statement of.the month and the amount isn't the same.

    Transaction codes from Millennial Specialty Insurance
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