Do you ever wonder about that recurring charge that appears in your PayPal transaction history? If you are aware of such charge and you approved it, then you are safe. But in case you do not know what that is, then it is PayPal Pre-approved Payments for you.

PayPal preapproved payments

What are PayPal Preapproved Payments?

PayPal Preapproved Payments is a form of pre-arranged and agreed charge on your PayPal funds. This means that a current subscription is ongoing and will charge you for an agreed amount for every scheduled time.

It is basically giving permission to a service provider or a merchant to charge your purchase at a later time. Once you confirmed and approved this type of agreement, you will be expecting the charge to occur at the agreed time. It could be weekly, monthly, or annually.

And since you have approved it upon checkout, the preapproved payment will take the amount of money from your PayPal account. So it is always advised to check your account for these types of transactions. If you think that the preapproved payment is no use or should not be active anymore, remove it immediately.

How to check for an existing Preapproved Payment

Before we tell you how to check if there is an existing pre-approved payment on your PayPal account, you should know how you acquired it in the first place. This kind of transaction is offered to you upon checkout. So it is seriously advised to read agreements and notes when you confirm a payment using your PayPal.

This usually happens when you get a subscription for a paid service, paid goods from an online seller, and other recurring transactions that you want to avail. If you do not know anything about a recurring transaction or a preapproved payment, here is how to check it.

For Personal Accounts:

  1. The first you should do is open a new tab on your PC or laptop’s web browser.
  2. On the address bar, type in the PayPal official website.PayPal
  3. Once you see the PayPal main web page, click on the “Log in” button in the top right corner of the screen.Log In
  4. On the next page, type in your PayPal verified email address and password before hitting the Enter key.
  5. When you see your PayPal main dashboard, click on the Settings (gear icon) on the top right corner of the screen next to the “Log out” button.Settings
  6. Now click on the Payments tab.Payments
  7. On the next page, click on the “Manage Preapproved Payments”.Manage Pre-approved Payments
  8. Choose a preapproved payment by clicking on the name on the list.
  9. You should now see all the details about the preapproved payment that you are subscribed with. Click on the Cancel button on the right side of the summary page and confirm.Click Cancel Preapproved payment
  10. That’s it. You can do the same procedure with the rest of the preapproved payments left on the list.

For Business Accounts:

  1. The first you should do is open a new tab on your PC or laptop’s web browser.
  2. On the address bar, type in the PayPal official website.
  3. Once you see the PayPal main web page, click on the “Log in” button in the top right corner of the screen.Log In
  4. On the next page, type in your PayPal verified email address and password before hitting the Enter key.
  5. When you see your PayPal main dashboard, click on the Settings (gear icon) on the top right corner of the screen next to the “Log out” button.Settings
  6. Click on the “Financial Information” tab.
  7. On the next page, scroll down to see the Pre-approved Payments. Click on the “My Pre-approved Payments.”PayPal Preapproved Payments
  8. You should now see the list of all your pre-approved transactions. You may choose the one that you want to cancel by click on it.
  9. On the Billing Details page, you may click on the Status tab where the Cancel button is located.Click Cancel
  10. Click and confirm, and you should be done immediately. That’s it.

In Conclusion

Always be careful and vigilant when confirming payment on your checkout. The best thing to do is to read all the included details before you finalize a transaction. There have been reports and instances where the buyer gave a go on a pre-approved payment without really realizing what he approved.

After a few months, he wondered why there are charges that seemed off because he never remembers any subscription or anything similar of the sort. And so, he had to file some dispute and ended up only getting a percentage of the total amount he was charged.

So spare some moments confirming and reassuring that you are only paying for what you want and not pay for something over and over again for no use. And if you are unsure, contact PayPal Customer Service to answer your questions.

You may also leave your questions in the comment section below. We will try to answer all your queries 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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