Is "SYNCHRONY BANK PAYMENT PPD ID: 1061537262" fraud?

Written by Remi Russell

June 18th, 2024

Medium Risk

What is "SYNCHRONY BANK PAYMENT PPD ID: 1061537262"?

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.'

  • SYNCHRONY BANK: Name of the bank or financial institution.
  • PAYMENT: Indicates that the transaction is a payment.
  • PPD: Stands for Prearranged Payment and Deposit, which means the payment was pre-authorized.
  • ID: Identification number associated with the payment.
  • 1061537262: Unique transaction code or reference number for the payment.

    • 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

    Walter Thompson

    "Hey, don't stress! I had a similar charge and it turned out to be legit. Stay positive and contact your bank for clarification. Hang in there!"

    Transaction codes from Synchrony
    Download the App