PayPal has emerged as an excellent tool to send and receive payment across domestic and international borders. It is supported virtually 200 regions of the world. Thus, many personal and notably, business transaction take place on PayPal. The best part is, if you have sent someone a significant amount and immediately feel like retrieving it back, due to unnumbered reasons, PayPal can allow you to do that quite easily.
However, there are certain limitations to cancelling the payment. Fore mostly, you cannot cancel a PayPal payment when it has been successfully received by the other party. You can only cancel the payment when it is in the transitioning phase.
Moreover, of the email address of the recipient is verified, then too, you cannot retrieve the payment. Although, if the reason you want to cancel the payment is that you entered a wrong email address, then there is one thing to rejoice, there may not be a person on the other to claim it. Here’s how you can cancel a PayPal payment when it is pending or unclaimed.
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How to cancel a PayPal payment or Transaction ?
- Launch the PayPal website on your desktop. Log into your account and locate the transaction details of the payment that you wish to cancel from the Activity tab of the home page. You can notice the status of the transaction underneath the date and time of the initiation. If the status indicates ‘completed’, then there is nothing you can do to cancel it other than asking the recipient to send it back. However, if the status says ‘pending’, all is not lost for you.
- Adjacent to the pending status, you can see a cancel button flashing. Once you press the button, a cancel request will be sent. Most likely, it will be cancelled as soon as the request is issued and your money will find its place back into your PayPal balance. Even if you initiated the payment directly from your account, it will still appear on your PayPal balance. Fret not, it will automatically be sent to your bank account like regular wallet money in 3-5 business days.
How to cancel a recurring subscription payment?
It could be that you may have signed up for a website or an app that demands monthly subscription fee and now you wish to cancel the subscription to halt the payments. PayPal offer seamless services when it comes to cancelling recurring subscription payment and you won’t be charged a penny as a cancellation fee. You can cancel the subscription right from the PayPal app, which will entail forfeiting of all the paid services of that website.
To do this, log into your PayPal account from your computer and go to the settings tab of the home page. On the left-hand side of the page, locate ‘business information’ under the My Profile head. Subsequently, click on the ‘Financial Information’ tab. On the page you are then directed to, scroll down to the second last tab that says “Automatic Payments” and below it “manage automatic payments”. Click on the later. You will be directed to the list of all the subscriptions that you pay for. From here, you can cancel any subscription you want.