Issued a refund but buyer says its being held?

[Vektify]

So I sold something on eBay, the buyer sent the money to my wrong email because I didn't update it, so I declined the payment on the account they sent it to and cancelled on eBay and they said it still says "cancellation is pending" meaning its being held by either eBay or Paypal and it's most likely Paypal.

[kernowlass · Accepted solution]

@Vektify 

Pending refunds can only happen for two reasons.

1. The seller has issued a refund from their bank account which takes time to process.

2. You funded the payment to the seller using bank transfer. What PayPal do here is credit the recipient on your behalf (so there is no delay in despatching your item). Then if you receive a refund in the meantime they are unable to issue this until the original bank transfer completes.

https://www.paypal.com/us/selfhelp/article/i-want-a-refund.-how-do-refunds-work-faq3248