PayPal is a convenient platform for anyone with an e-mail address to send or receive online payments. Transferring money through PayPal is mostly free, except for credit card transactions or currency conversions. PayPal charges a small fee in those instances. Many people use PayPal to send money to family or friends in a hassle-free way. Lots of businesses allow PayPal as a payment method when you buy something from them. Third-party sellers and their buyers can rely on PayPal for a layer of purchase protection. This means that if anything goes wrong and you need to get your money back, it should be fairly straightforward. Read this guide on how to cancel a PayPal transaction.
How to Cancel a Payment on PayPal
Cancelling a pending payment on PayPal is easy. Log in to your PayPal account and view your payments on the Summary page. If the payment you want to cancel shows as “Unclaimed,” this means that it has not reached the recipient yet. At this stage, you can stop the payment before it reaches them. There should be a “Cancel” button alongside the payment. Simply click this button and then click “Cancel Payment” to stop the transaction. PayPal will automatically cancel a payment if it is still pending after 30 days. The refund will either go back to the debit or credit card or into your PayPal balance. You should not do this to cancel an order instead of speaking to the seller.
How to Cancel a PayPal Credit Charge
Some buyers might use PayPal Credit when shopping. Instead of a physical credit card, it is a credit limit attached to your PayPal account. You can make online purchases from participating merchants using PayPal Credit. You can even set up Direct Debits from your PayPal Credit account. If you find that you need to cancel a transaction made with PayPal Credit, there might not be a “Cancel” button. In order to cancel the payment, you will need to contact the seller to request a refund. The merchant might be able to cancel the order. If it is too late, then you will have to return the order once you receive it. You can change or cancel any automatic payments under “manage payments.”
How to Claim a Refund for a PayPal Transaction
Whenever there is no cancel button or the payment status is “Completed,” then it is too late for you to cancel the transaction. The recipient will already have the money. The only way for you to get it back is to request a refund from them. If the person refuses to issue your refund, then you must open a dispute. You have 180 days from the payment date to do this. You can only dispute a transaction if you did not receive an item or received a different item after paying for an order. Go to the Resolution Centre in your PayPal account, click “Dispute a Transaction,” then follow the instructions. You must communicate with the seller to reach an agreement and close the dispute.
How to File a Complaint to PayPal
If you cannot reach an agreement over your refund, you should not close the dispute. Ask PayPal to investigate the dispute for you. Once you open a dispute, you have 20 days to escalate it to a claim. To make a PayPal claim, click “View” next to the dispute in the PayPal Resolution Centre. Then click “Escalate this dispute to a PayPal claim” near the bottom and follow the instructions. PayPal will review the dispute and make a decision about your refund within 30 days. The seller cannot withdraw your money because PayPal will freeze it in their account until they resolve the issue. To complain about any of this, click “Compose” in the Message Centre. Choose the topic “File a complaint.”
How to Change Your PayPal Payment Settings
While cancelling a pending PayPal transaction is easy, getting a refund for a completed payment can be a long and frustrating process. To avoid having to go through this again, always double-check that you have the correct details before submitting a payment. Try not to buy from sellers if you don’t know how trustworthy they are. To make sure you never pay with the wrong card, set a default payment method in your account. You can do this under “Payment Settings” when you click the “Settings” cog symbol at the top. You can also set “Pay After Delivery” as the default if you link your bank account. This option gives you 14 days to receive and view a purchase before you’ll need to pay.