Is "WITHDRAWAL ACH SQUARE INC TYPE: PAYR DD ID: 146561" fraud?

Written by Aiden Lee

June 18th, 2024

Medium Risk

What is "WITHDRAWAL ACH SQUARE INC TYPE: PAYR DD ID: 146561"?

Square Inc., founded in 2009 by Jack Dorsey and Jim McKelvey, operates as a financial services and mobile payment company. The company initially gained recognition for its small, square-shaped card reader that attaches to mobile devices, allowing merchants to accept credit and debit card payments. Over the years, Square has expanded its product offerings to include point-of-sale systems, online payment processing, payroll services, and business analytics tools. The company also provides various software and hardware solutions designed to assist small to medium-sized businesses with their financial management and operations.

WITHDRAWAL: Transaction type indicating money was taken out of the account.

ACH: Indicates the transaction was conducted via the Automated Clearing House network.

SQUARE INC: The company or merchant involved in the transaction.

TYPE: PAYR

DD: Abbreviation for Direct Deposit.

ID: 1465614445

CO: SQUARE INC

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.