Payment to seller cancelled... but money taken from my account?

[Katykuns]

I organised a payment to someone to have an item delivered, from a site that you usually collect from. We agreed on £70, so I paid it to her email, but she claimed she could'nt recieve it... so I cancelled my payment, and we arranged a different way to pay, without using paypal.

Yesterday, I checked my online banking to see that there was a paypal payment deducted of £70! I am confused as on my paypal it is confirmed that its cancelled....

What do I do? Is it just a matter of time for the money to be paid back?  

[ry4n]

Im having the same problem but with £95, worried to be honest no one from either side is going out the way to help me, it seems my money has just disappeared into thin air..

Please someone respond average refund time after cancellations?

[PayPal_AdrianO]

Hey guys,

Even though you managed to cancel the transaction on PayPal, it doesn’t cancel the funds processing from your bank as we don’t have authorisation to do this. The funds will usually leave your bank account 72 hours after the payment was initiated and then they must go through PayPal’s clearing house. The full timeframe for the funds to reach us is 5 to 7 working days. Once the funds clear they will become available on your PayPal balance.