How to find out what those strange charges are on your credit card
Credit card bills, with lists of charges from businesses you’ve sure you’ve never heard of, are sometimes harder to translate than an alien message left on a moon circling a distant sun.
Stuart Grover founded a company, Look Who’s Charging, in 2016 after puzzling over expenses at his previous business, 3D Printing Studios.
He was wasting hours of time trying to reconcile and categorise the often cryptic transactions within the bank feed of his accounting software.
“The more research we did the more we realised that this wasn’t just a big problem for small business owners and bookkeepers but that it is also a significant problem for consumers and financial institutions,” says Grover.
“Hence we founded Look Who’s Charging and set ourselves the mission of solving the problem of transactions not being recognised. We believe that every Australian can relate to the problem that we have solved and we hope that we can make life that little bit easier for them.”
Look Who’s Charging, based in the Hunter Valley of NSW, is an entrant in this year’s Finnies, the fintech industry awards. It’s up for Emerging FinTech Organisation of the Year, Better Customer/User Experience and Excellence in Data/Artificial Intelligence Solutions.
Winners of the 2018 Finnies, the second year of awards for Australia’s fintech players, will be announced June 13.
The Look Who’s Charging startup says it is a global first business which makes life easier for consumers by identifying who has charged their credit or debit card.
More than 600 million card transactions are not recognised by Australian consumers each year. Some 15 million of these sorts of transactions are formally queried with financial institutions.
This may be when the transaction is listed under a holding company name, rather than a more well-known trading name.
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Source: FINNIES: How to find out what those strange charges are on your credit card | Business Insider
