Another day, another mystery charge pops up on your bank or card statement – what a nightmare! While we all try to take care of our finances as much as possible, there are still a few curious fees that seem to slip through the net. For example, what is an ACHMA VISB charge, and can it be stopped?
From my research, an ACHMA VISB charge appears related to services provided by Verizon Wireless. Whether or not that sounds familiar, I’ll break down everything you need to know below.
What does ACHMA VISB mean?
If you see a charge marked as ACHMA VISB on your bank or card statement, Verizon Wireless (the mobile network / carrier) has withdrawn funds from your account.
ACHMA VISB may sound like a mouthful, but it technically stands for Automated Clearing House Merchant Authorization Visa Bill Payment.
Essentially, this means that Verizon has used the ACH method of electronically transferring funds through one account to another. The code ACHMA VISB further tells us that the transaction was completed through a Visa card.
It’s a typical payment label that many services use to help identify a type of charge and why it’s processed. While you may expect to just see “Verizon” outright on your statements, this code is more for the company’s benefit than yours.
How does ACHMA VISB work?
ACHMA VISB works much like a pre-authorized, regular card payment. Essentially, Verizon Wireless has received authority to enter your account and remove funds once a month to pay for services.
In this case, it appears to be to pay for your cellphone or wireless contract. Take a look over your emails and contracts from the past few months (or even years if this has been going on for some time). Do the charges line up?
If so, then you’ve answered your own question! You can, of course, manage your account and payment channels through Verizon directly if you no longer want to pay for services this way.
Is ACHMA VISB fraud?
If you didn’t authorize an ACHMA VISB charge, or you don’t even have a Verizon Wireless account, it’s time to get in touch with your bank and/or card issuer.
Unfortunately, while this charge appears legitimate in the vast majority of cases, it’s still the type of code likely to appear if someone has run up unauthorized payments without your oversight. For example, if someone has access to your card information and ID, they could set up a wireless contract behind your back.
Verizon Wireless is as stringent and as protective as any wireless carrier against fraud and illegitimate account openings. However, there are always a few cases that slip through the net.
If you’re really sure you didn’t authorize an ACHMA VISB charge through your Visa card (or in any shape or form), it’s time to act.
How do I stop ACHMA VISB?
The first step to take is to call your bank or issuer’s fraud department. All mainstream banks have fraud prevention hotlines and teams who can help stop unwanted costs from arising and recurring.
Call your bank or issuer directly and tell them when you first started noticing the charges. State that you didn’t authorize such payments, and that you wish to put these recurring fees into dispute.
Your bank or issuer should report the charge(s) to their investigation team, who will take time to look into where the fee came from. Once they’re satisfied you didn’t set up the charge yourself, they may refund you the costs you’ve incurred.
Before that, your bank or issuer should also freeze your account and send out a new card and PIN. This is to prevent similar charges from arising again in future, ensuring only you have access to your banking details.
Should I contact Verizon Wireless?
If you’re concerned someone has set up a Verizon Wireless account in your details without your knowledge and authority, it’s wise to speak with the company directly.
The carrier has a useful account security guide to help people who have seen accounts raised in their names, or who have lost their accounts to fraudsters. From here, you’ll be able to close down any unwanted attention that may have accrued under your name.
Again, I must advise that I’m not a Verizon agent and don’t speak on behalf of the company. Therefore, in some cases, the network may not be able to help you.
Take time to read through their fraud prevention advice, and make sure to cancel your card(s) with your issuer. From here, you should be protected against unexpected ACHMA VISB charges appearing on your account.
Before You Go…
Mysterious charges on our bank and credit card statements can be very frustrating. We’ve done as much work as possible to get the bottom of this issue, but we could always use your help.
Please let us know in the comments whether you found this article useful or not. If there’s something we missed or anything that needs to change, please do let us know. Your feedback and constructive comments help us make this content more valuable for everyone. Thanks!
by Jon Craig
I am the creator of Project Financially Free and I started this journey to both educate myself and share my insights on personal finance. I’m passionate about financial literacy and I invite you to join me on this transformative path. See more.