Money sent to an incorrect email address that is not real but deducted from bank account

[Marsha1234]

I sent money to the wrong email address and cancelled the payment.  Two days later my bank deducted the amount from my account.  The bank says I have to deal with the merchant, but there is no merchant.  The email address is not valid.  My paypal account balance is zero. Please advise

[kernowlass · Accepted solution]

@Marsha1234 

Gosh you were lucky, if that mis-spelled email address was valid to another person you 'may' have lost your money !!

Luckily you could cancel, so when you cancel a payment those funds can't do a u-turn > they have to process through to paypal who will as the transaction was cancelled return them to your funding source (if you paid from your bank account or with a card), or credit your paypal balance (if it was funded from that balance), but that takes a few days and sometimes up to a week.