Peer-to-peer payment charges

Peer-to-peer payment entries can represent money sent to another person, a transfer funded from your bank, a merchant purchase, or an automatic payment agreement. Banks often display network terms such as INST XFER, ACH, PPD, or a shortened recipient name, so the wording on the statement may not match what the payment app showed at the time.

Open the payment service and compare its activity with the exact date and amount on your bank statement. A bank date can be one or two business days later than the app date, particularly around weekends. For PayPal entries, check both ordinary activity and automatic-payment agreements. For Venmo or Cash App, review transfers and card purchases. Zelle payments are normally found inside the banking app that sent them.

Treat an unmatched transfer seriously because person-to-person payments can be difficult to reverse. Secure the payment account, review connected devices and funding sources, and contact the provider immediately. Do not send a second payment to someone promising to return the first. If the provider cannot identify the transaction, tell your bank it may be an unauthorised electronic transfer and ask about the applicable dispute deadline.

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