In PayPal, there are a couple of ways to cancel a payment. This is because PayPal has set some policies within its platform that can protect both the buyer and the seller. PayPal basically has set up rules and regulations to make all transactions within the platform secure.

PayPal Cancel Payments

So if a transaction occurred and you changed your mind, you can cancel the payment. But not all payment cancellations are the same.

There are cases where you can take back the money in just a click of a button. And then there are those instances where you will need to file some reports and submit documents to get your money back. Or, in a worst case scenario, you won’t get even a penny for your trouble.

How To Cancel PayPal Payment?

To cancel PayPal payment, you will need to identify your current situation first. Just because we said that a payment cancellation in PayPal is allowed does not mean that you can deliberately take advantage of it.

PayPal is one of the secured ways to keep a virtual wallet online. And they pride themselves in doing so. While there are loopholes from time to time, PayPal always makes it a point that all transactions and activities going around their platform is of the rule of law and fair for everybody.

So going back to identifying your situation whether you are allowed to cancel payment on PayPal or not. Here are the three typical scenarios where you can cancel a payment:

  • You can cancel a PayPal payment if it is pending or in an unclaimed status.
  • If a transaction is completed, you cannot cancel a payment. But you can request a refund.
  • If a seller or merchant refuses to refund the money, you may file a dispute instead.

If your case falls on one of those scenarios, then you will be able to take appropriate actions to cancel PayPal payment. The following is a more detailed explanation of the three scenarios.

Pending or Unclaimed Status

For pending or unclaimed status, the situation is easy. If you see that after you have paid or sent the money to a recipient, it still says “Pending” or “Unclaimed,” you may cancel the transaction anytime by clicking on “Cancel” or “Cancel Payment.”

Cancel Pending Transaction

Confirm Payment Cancellation

Keep in mind that if the funds you use to pay for a transaction on PayPal are from a credit card, you will need to wait up to 30 days for the funds to be credited to the card. And if you use your bank account to pay for transactions on PayPal, you will need 3-5 days before the money will go back to your PayPal funds. And from there, you may withdraw the money to your bank account.

Request a Refund

Requesting a refund is a whole new different story from just canceling a payment. It will require some good fate and an agreement from the other end of the transaction.

If you are dealing with a seller, to request a refund is the first step in asking to get your money back due to a faulty transaction. This might include a defective product, unsatisfactory service, or the product is not as described.

You may settle this issue with communication through chat or email. If the seller agrees to refund the money, all you need to do is go to the transaction details and click on “Request a Refund.” Here’s a brief overview of what you should do.

  1. Open a new web browser and go to PayPal official website.
  2. Click on the “Log in” button.
  3. On the next page, type in your PayPal verified the email address and password before hitting the Enter key.Log In
  4. On our PayPal account dashboard, you should find all the transaction history on the left side of the page.
  5. Click on the exact transaction to open the transaction details about it.
  6. Below the record, you should find the “Request a Refund” button. Click on it.
  7. That’s it. Wait for the confirmation on the other end of the transaction.

File a Dispute

Finally, if the seller or merchant refuses to refund the money, you may now escalate the issue by filing a dispute. This situation must be given enough consideration before putting it into action.

First is that filing a dispute must be within 180 days right after the payment took place. PayPal will also give 20 days’ allowance for the seller to settle the case on his or her side.

Now, one must be aware that just because you filed a dispute, you will be given the advantage over the case. An investigation will be conducted, and therefore, you will be required to provide information and documents. Make sure that your claim is good and that all submitted information supports your case.

In case you do not know how to do this we will help you out. Here is how to file a dispute:

  1. Open a new tab on your web browser and go to PayPal official website.PayPal Main Page
  2. Click on the “Log in” button.Log In
  3. On the next page, type in your PayPal verified the email address and password before hitting the Enter key.
  4. Now, on your PayPal dashboard, scroll down to find the “Resolution Center.” Click on it.
  5. Click on “Dispute a Transaction.”
  6. Select the item that you want to dispute.
  7. On the next page, fill up all the needed information and make sure that all data are correct and accurate.
  8. That’s it. Review all the information before sending it to PayPal Customer Care for investigation.

In Conclusion

While all of these methods will make all transactions within PayPal fair and secure, it would be best to keep an honest intention. And while you are at it, always do transactions to those you trust. This is to prevent fraudulent entities from abusing other PayPal users.

In today’s topic, what do you think about PayPal’s stand on dispute-related cases? Do you think they could have done a bit better? Tell us your thoughts in the comment section.  We appreciate intelligent inputs and stories that can help out other members of this community.

Feel free to express your concerns, ask questions, and even make a suggestion down below. We will try to respond to your messages as soon as we can.

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Alex Ocean is a financial adviser and expert on e-commerce and trading stocks. He teaches online financial courses for bloggers and entrepreneurs. Alex also hosts workshops for aspiring young professionals that aim to be successful at an early age.

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