Is "SYNCB PHONE PAYMENT" fraud?

Written by Gavin Brooks

June 18th, 2024

Medium Risk

What is "SYNCB PHONE PAYMENT"?

Synchrony has been in business since 2003. It is a financial services company that specializes in consumer financing for different types of retail products. These include products related to health, auto parts, electronics, appliances, home improvement, sport gear, travel, and more. In addition to retail products, they also provide promotional financing and credit card programs. They work with a large network of national and regional retailers.'

  • SYNCB: This is the name or abbreviation of the bank or financial institution involved in the transaction.
  • PHONE PAYMENT: This indicates that the transaction was made using a phone payment method. (Note

    • 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

    Harrison Montgomery

    Just saw this SYNCB PHONE PAYMENT charge on my statement. Not sure what it's for, but definitely didn't make this purchase. Anyone else? #confused

    Eleanor Sinclair

    Hey, I found a weird charge too! Called my bank and they're looking into it. Better be safe than sorry, right?

    Transaction codes from Synchrony
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