Is "PAYPAL INST XFER SAMSUNGELEC WEB ID: PAYPALSI77" fraud?

Written by Aiden Lee

June 18th, 2024

Medium Risk

What is "PAYPAL INST XFER SAMSUNGELEC WEB ID: PAYPALSI77"?

Samsung Electronics, founded in 1969, is a South Korean company that has been in business for over five decades. The company offers a wide range of retail products including smartphones, televisions, home appliances, semiconductors, and computer components. Samsung Electronics is known for its Galaxy line of smartphones and tablets, as well as its QLED televisions. The company also produces laptops, desktop monitors, wearables, and home appliances such as refrigerators, washing machines, and air conditioners.

  • PAYPAL: Indicates that the transaction was processed through PayPal
  • INST XFER: Stands for "Instant Transfer" signaling the type of transaction
  • SAMSUNGELEC: Shortened form of "Samsung Electronics," likely the merchant or payee
  • WEB ID: Indicates an online transaction, denoted by the identifier following
  • PAYPALSI77: Specific reference or identifier code related to the transaction

    • 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
    Transaction codes from Samsung Electronics
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