Is "LIFE INS OF SW PPD JOHN DOE XXXXXXXXXX ACH DEBIT" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

What is "LIFE INS OF SW PPD JOHN DOE XXXXXXXXXX ACH DEBIT"?

National Life Group has been in business since 1848. The company provides a range of financial products and services, including life insurance, annuities, and investment products. Through its affiliated companies, National Life Group offers various types of life insurance, such as term life, whole life, universal life, and indexed universal life insurance. Additionally, the group provides fixed and variable annuities that help customers with retirement planning and income solutions. The company also offers investment products including mutual funds and managed accounts.

LIFE INS: Life Insurance

OF SW: Office of Southwest

PPD: Prearranged Payment and Deposit

JOHN DOE: Payee or Account Holder's Name

XXXXXXXXXX: Reference or Account Number (redacted for privacy)

ACH: Automated Clearing House

DEBIT: Type of Transaction (Funds were withdrawn)

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.