PayPal is a popular online payment service that allows users to send money from one account to another. It is very easy to use, and many people have used it to make payments on their websites. However, if you need to cancel a PayPal payment, you may not be sure how to do it.
In this blog post, we will discuss how to cancel a PayPal payment and give you some tips on avoiding getting scammed by fake PayPal accounts!
How to Cancel a PayPal Payment?
To cancel a PayPal payment, you need to follow these below steps –
1. Log into your PayPal account.
2. Click on the “Activity” tab at the top of the page.
3. Click on the arrow to the right of the payment you want to cancel.
4. Click on the Cancel button
5. You’ll see a confirmation screen that says, “payment has been canceled.”
How to Cancel a Recurring PayPal Transaction?
You can cancel any recurring payment that hasn’t been processed yet. Click on ‘Manage your payment methods from the top menu of your screen.
If you click the link in the email, you’ll see the pre-approved payments for your review, and you can accept or reject them.
Select the “Cancel Payment” option from the drop-down and select the one you want to cancel from the list.
Which PayPal Payment Can Be Cancelled?
Although PayPal payments are “final,” in certain situations, PayPal allows its customers to cancel or reverse a transaction if it is still in the pending or unclaimed status.
For those who are not familiar with the “pending” status, this just means that the payment occurred, but the transaction has not been processed. If the money is still in the pending status, the receiver may have the option to cancel the transaction. However, the transaction can no longer be canceled or reversed once it is claimed.
When payment has not been accepted after 30 days, it will be canceled automatically. You can always cancel the payment and have the money sent back to your account.
And You can cancel the payment any time before they do this or before 30 days have gone by. After 30 days, it will be automatically canceled.
Why does someone need to cancel the PayPal payment?
There may be instances when you make a payment through PayPal and later realize that it was a mistake. Therefore, you may wish to cancel the payment and get your money back.
Here are some cases when someone wants to cancel the PayPal payments –
a) Send money to the wrong person:
In this case, you might realize that you sent the payment to the wrong person or the wrong address. You may want to cancel the payment and get your money back.
b) Entered the Wrong amount:
If you have entered the wrong amount, you can cancel the payment. You can also request a refund.
c) The wrong item: If you want to cancel the payment because the thing that you have purchased is not what you had expected, you may wish to cancel the payment and get your money back.
d) Fraud: If you have paid someone for something and later find out that the person has taken the money without delivering the product or service, you may want to cancel the payment and get your money back.
e) You want to return the payment:
If you want to cancel the payment because you have received something that you don’t want to receive, then you may wish to return the payment and get your money back.
Note: In case of a refund, you will be asked to send an email to PayPal stating your reasons for wanting to cancel the payment.
f) Scheduled a recurring payment:
If you have scheduled a recurring payment, you can cancel it. However, the recurring payment is already created in your account. Therefore, if you want to cancel the recurring payment, you will need to cancel it from your PayPal account under the recurrence payments section. Then, you can cancel the recurring payment from your PayPal account.
In conclusion, you can cancel the payment at any time before the payment is completed. I hope you have understood the concept of how to cancel a PayPal payment. Please leave a comment if you have any queries or doubts regarding this topic.