Is "ACH Payment NSM DBAMR.COOPER / - NSM DBAMR" fraud?

Written by Ava Morales

June 18th, 2024

Medium Risk

What is "ACH Payment NSM DBAMR.COOPER / - NSM DBAMR"?

Mr. Cooper, originally known as Nationstar Mortgage Holdings Inc., has been in business since 1994. The company primarily operates in the mortgage servicing and origination industry. They offer various retail products such as mortgage refinancing, home purchase loans, and home equity loans. Additionally, Mr. Cooper provides homeowners with tools for managing their mortgage and understanding their home financing options.

ACH Payment: Indicates the type of transaction, which is an Automated Clearing House payment

NSM: Likely refers to the institution or processor handling the transaction

DBAMR.COOPER: Possibly the name or account identifier of the party receiving the payment

NSM DBAMR: Likely a reference or internal code used by the processing system for tracking

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.