Elon Musk with PayPal revolutionized banking. – Peter Diamandis

Undoubtedly, we are seeing an immense revolution in transaction history. We are living in an era where it is so effortless now to instantly transact money online. However, sometimes even a tiny mistake could make you feel troubled. After all, it’s about money.

I have experienced it too, while using PayPal to send money online. I hadn’t noticed a slight error in the email address before sending the money. I have some good news for you if you want to know how to cancel a PayPal transaction. If you catch this mistake immediately, you can cancel the transaction on PayPal and get your money back.

But what if it is too late?

In any scenario, I am here to provide you with the best solution to save your money.

Let’s quickly explore the article…

How to Cancel a PayPal Payment?

Within a specific time, you are eligible to cancel a PayPal transaction. Once this time has been crossed and you are seeing the transfer successfully completed message, you have no option to cancel the payment. But wait… I have the other solution of how to get back your wrongly sent money.

Specific conditions of PayPal decide whether the transacted money can be claimed or not. Such situations are limited to the points below:

  • No registered PayPal account of the recipient email
  • Not verified email address

In case, the email address does not exist, your money will stay in limbo. And as soon as PayPal recognizes it, your money will be refunded to your account after 30 days without even processing the cancellation steps.

How to Cancel a Pending PayPal Payment?

I am telling you an easy way to cancel the pending PayPal transaction by login into the PayPal account.

  1. Once you successfully log in to the account, you need to navigate to the activity page. 
  2. Go to the all transactions page where you will see a history of your transactions. Find the payment that you want to cancel on the list.
  3. Now listen carefully, if that specific transaction has not been completed or claimed, PayPal will show you a cancel link.
  4. Visit the link and click on cancel payment.
  5. Doing this will simply refund your money in the PayPal balance which you can transfer back into the PayPal Bank.

However, if you are not finding any cancel option, it clearly means that your money has been claimed in the account of the receiver. So, you have to now follow the other steps to get back your PayPal money.

How to Cancel Recurring Payment on PayPal?

Subscription to other services is the best example of recurring payments on PayPal. You are required to cancel the PayPal transaction if you want to cancel the subscription for the next month.

Follow the steps to cancel it:

  1. Go to the username on the top right.
  2. Choose account settings.
  3. Now click on Money, Banks, and Cards.
  4. Find the Set automatic payments at the bottom of the screen.
  5. Choose the recurring payment you want to cancel and click on the cancel button.

Remember to cancel the subscription before 24 hours of its ending date or else your payment will be deducted with the start of the new subscription month.

What to do if you can’t revoke the PayPal transaction?

You don’t have to feel panic if you are unable to cancel the money transfer on PayPal. You have some options to get it back as follows:

  • You can simply ask the retailer to refund your money through a customer service email or their website.
  • In case your retailer denied refunding the money, you can report the issue to the PayPal resolution center. The team will look into your case and provide you with the best solution.

Conclusion

While using internet money transfers for better convenience, you can easily secure your money in various aspects. It is easy to send and receive money and also cancel the wrong transactions.

I hope, you have got the answer you are looking for and learned how to cancel PayPal transaction. If still, you need to know anything, please share it in the comment box.

Stay glued for more updates!