Is "WEB INITIATED PAYMENT AT STOCKPILE INVEST ACH XXXX" fraud?

Written by Ava Morales

June 18th, 2024

Medium Risk

What is "WEB INITIATED PAYMENT AT STOCKPILE INVEST ACH XXXX"?

Stockpile Invest was founded in 2010. The company specializes in making stock market investments more accessible by offering gift cards that can be redeemed for fractional shares of stock. Stockpile also provides brokerage services that allow customers to buy, sell, and manage stock investments. The retail products include gift cards for stocks, exchange-traded funds (ETFs), and individual stock trading options.

**WEB**: Payment was initiated over the internet.

**INITIATED PAYMENT**: Indicates an outgoing transaction.

**AT STOCKPILE**: The payment recipient is Stockpile.

**INVEST**: The transaction is related to an investment.

**ACH**: The transfer was done via Automated Clearing House.

**XXXXXXXXXXXXXX**: A unique transaction identifier or account number.

**090523**: The date of the transaction, indicating September 5, 2023.

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.