Is "ACH Debit - Pennymac Cash 2100002" fraud?

Written by Sage Wallace

June 18th, 2024

Medium Risk

What is "ACH Debit - Pennymac Cash 2100002"?

Pennymac has been in business since 2008. The company operates as a residential mortgage provider. Pennymac offers various mortgage products, including home purchase loans, refinance loans, and government-backed loans such as FHA, VA, and USDA loans. The company also provides online tools and resources for prospective homebuyers and those interested in refinancing their existing mortgages.

**ACH Debit**: The type of transaction, indicating an electronic withdrawal from the account.

**Pennymac**: The entity involved in the transaction, suggesting that the payment is related to Pennymac.

**Cash**: Could indicate the nature of the transaction, potentially a cash-related payment or withdrawal.

**2100002**: Likely a unique transaction identifier or reference number associated with this specific transaction for tracking purposes.

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.