Is "Electronic Withdrawal STATE / FARM RO 27 - SFPP" fraud?

Written by Ethan Patel

June 18th, 2024

Medium Risk

What is "Electronic Withdrawal STATE / FARM RO 27 - SFPP"?

State Farm has been in operation since 1922. The company primarily offers insurance products, including auto, home, life, and health insurance. State Farm also provides banking services such as checking and savings accounts, as well as loans and credit cards. Additionally, the company offers various financial products including mutual funds and annuities.

Electronic Withdrawal: The type of transaction, indicating money was taken from the account electronically.

STATE / FARM: Indicates the recipient or organization involved, likely State Farm in this instance.

RO 27: Could be a reference number, office/region identifier, or a routing info related to the specific transaction.

SFPP: Likely an abbreviation or code for a specific service or product, possibly "State Farm Payment Plan."

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.