Is "SALLIE MAE BANK DES:PAYROLL ID:77526 INDN:JOHN DOE" fraud?
Written by Lily Tran
June 18th, 2024
Medium Risk
What is "SALLIE MAE BANK DES:PAYROLL ID:77526 INDN:JOHN DOE"?
Sallie Mae, officially known as SLM Corporation, has been in business since its establishment in 1972. Initially started as a government-sponsored enterprise, the company has transitioned into a private sector entity. Sallie Mae focuses on providing financial products primarily related to education. These include private student loans, savings plans, and online banking services such as savings accounts and certificates of deposit. The company also offers resources for managing student loans and planning for college expenses.
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.
