You probably know that PayPal is the largest debit electronic payment system at the moment. It gives customers the ability to pay bills and purchases, as well as send and receive money transfers. Millions of people around the world regularly use this payment system for their needs. However, what if you made a mistake transferring funds?
If you sent a payment via PayPal but realized that the amount was incorrect, can the situation be solved? Most often, yes, you can cancel certain types of PayPal payments. Also, you should be aware that some types of payments cannot be canceled. In this case, you need to ask for a refund or to dispute the charge with the company to which the funds were sent (if that’s warranted).
So How Can You Cancel Payment On PayPal?
You can cancel a transaction you’ve already made if the receiver hasn’t yet actively claimed it. However, if he has already done so, then, as already mentioned, you will need to dispute the payment or request a refund. However, let’s find out how to cancel PayPal payment if the money has not yet been claimed:
- First of all, you need to log in to your PayPal account (PayPal.com). Next, you have to click on the “Activity” tab in the upper left corner of the screen. There you can see your last listed transactions.
- Scroll down and find the transaction you want to cancel and click on the “Cancel” button which is located below the transaction. After you do this, you will see a confirmation pop-up window.
- In the window that appears, click on the “Cancel Payment” button in order to confirm your actions.
The money will appear in your PayPal account. Also, remember that it may take some time for money to appear in your account after cancellation.
Important! If there is no “Cancel payment” button next to the “Payment” field, this means that the payment has already been claimed and cannot be canceled. In this situation, you can contact the recipient and request a refund.
Which PayPal Payments Cannot Be Canceled?
Only unclaimed payments can be canceled. If the payment is completed, please contact the payee to request a refund. Unclaimed payments may be canceled for the following reasons.
- The payment was sent to an email address that is not associated with a PayPal account. If an email address is added to a PayPal account, the payment is automatically credited to the balance in that account.
- The payment was sent to a recipient with an unconfirmed email address. For security reasons, PayPal can only credit payments sent to a verified email address.
When Can I Cancel My PayPal Payment?
Of course, you cannot cancel a PayPal transaction that has been completed. Therefore, payment can only be canceled if it is marked unclaimed on the transaction details page.
What Happens When PayPal Refunds Money?
If the PayPal transaction is successfully canceled, the funds will be returned to you within a specified time. If you made an initial payment using funds in your PayPal account or bank account, the money will be returned to your PayPal account within a few (often 3-4) days. If you used a credit or debit card, funds are returned to the card balance within 30 days.
What Can You Do If You Are Unable To Cancel A PayPal Transaction?
If you are unable to cancel a PayPal payment, the only thing you can do is contact the recipient personally and ask them to return your payment. The easiest way to do this is to email them the address associated with their PayPal account.
You can use another method of refund, but it is recommended to resort to it only in an emergency. You can file a dispute through the PayPal Resolution Center.
Which PayPal Payments Cannot Be Canceled?
If the payment has already been claimed, then unfortunately you will not be able to cancel the transaction. In this case, you can contact the payee to request a refund.
