Suspected fraudulent charge – 402-935-7733

Description

A charge for $12.73 has appeared on my bank statement citing « PayPal *Igottrade402-935-7733/VISA Purchase (non-pin) as the payee. There is no corresponding notation in my PayPal on-line records. This is my linked account.
I did a little research on line and found three totally different stories behind this. One says its a legitamate PayPal charge to cover insufficient funds in my PayPal account. Another says it is a scam and needs to be reported to both PayPal and my bank.
Which is correct? If it’s ligit, why does it not show in my PalPal statement?
Solved! Go to Solution.

You’re right to be suspicious when a charge appears on your bank statement that you don’t recognize in your PayPal account. It’s wise to investigate it thoroughly. Here’s a breakdown of how to determine what’s going on:

1. The Most Likely Scenario (and how to confirm it):

The most probable explanation, given the « Igottrade » part of the description, is that this is a legitimate PayPal transaction, but the merchant name is abbreviated or slightly different on your bank statement. Banks often shorten or alter merchant names for space reasons. The « 402-935-7733 » might be a transaction ID or a portion of the merchant’s identifier within PayPal’s system.

How to Confirm:

• Log in to PayPal on a computer (not just your phone app): Sometimes, transactions are more easily visible on the full website.
• Check all your PayPal activity: Don’t just look at recent transactions. Use the date range search function to go back to the date of the $12.73 charge on your bank statement. Search broadly, even a few days before and after.
• Look for variations in the amount: Sometimes, pending authorizations might show slightly different amounts than the final charge. See if there’s anything close to $12.73.
• Check your email for PayPal confirmations: Search your email (including spam/junk folders) for any PayPal transaction confirmations around the date of the charge, even if the merchant name doesn’t perfectly match.

2. If You Still Can’t Find It:

If you’ve thoroughly searched your PayPal account and email and absolutely cannot find any record of this $12.73 transaction, then it’s time to escalate.

• Contact PayPal Directly: Explain the situation and provide them with the exact details of the charge from your bank statement (date, amount, merchant descriptor). They have access to more detailed transaction logs and should be able to tell you if it originated from your PayPal account.
• Contact Your Bank: If PayPal confirms they have no record of the transaction, then it’s possible it’s an unauthorized charge. Report it to your bank immediately. They may reverse the charge and issue you a new card.

3. Why it Might Not Show in Your PayPal Statement (Even if Legitimate):

• Timing Differences: Sometimes, there’s a delay between when a transaction is authorized and when it fully posts to your PayPal account. It might show up a few days later.
• Merchant Name Discrepancy: As mentioned earlier, the name on your bank statement might be different from the actual merchant name in PayPal.
• Funding Source: If you have multiple funding sources linked to your PayPal account (e.g., a bank account and a credit card), the charge might have gone to a different source than you expected. Double-check all linked accounts.

Important:

• Don’t assume it’s a scam just yet: While it’s good to be cautious, many seemingly suspicious charges turn out to be legitimate after investigation. Start with checking your PayPal account thoroughly.
• Protect your information: If you suspect fraud, change your PayPal password and consider enabling two-factor authentication for added security.