About canceling a payment

[MGhostSoft]

Hi,

I paid for a purchased item via PayPal on Saturnday. But my credit card hadn't been charged till today, and the status of that payment was "Unclaimed". So I canceled that payment and paid again. This time my credit card was charged immediatly. However, my card was charged once more later. And in the "Transaction Details" page of the canceled payment, the last event is "Temporary Hold", and the type is "Placed". My questions are:

1. Does that mean that, as long as the hold is cancelled, I will receive the refund?
2. Why there's a hold placed? How and when will it be canceled?
3. Will my refund go back to my credit card or to the PayPal account balance? Can I choose between these?

Thank you so much!!

[PayPal_Olivia]

Hi MGhostSoft, and welcome to the forums!

It sounds like your first payment was actually funded by bank, rather than credit card. When a refund is made on a bank-funded transaction, the funds aren't available until they have cleared from the bank.

If you go to your history and click the plus sign next to your original transaction, you'll be able to see the associated actions, including the funding.

I hope this helps!!

Olivia

[MGhostSoft]

Hi Olivia,

Thank you for your help. Does that mean I have to wait the fund of payment successfully clearing from the bank first, and then wait for the refund go back to my bank account?

Thanks!

Meng

[PayPal_Olivia]

Hi MGhostSoft,

You have it right. You will need to wait for it to clear from the bank, and then if you want to withdraw it back to your bank it would take the normal withdrawal timeframe. The good news is that you don't have to withdraw it if you're ready to make another purchase! Once the money is in your PayPal balance, you can certainly use your balance to fund another payment. Even better - if you enroll in the Money Market Fund, you can be earning a dividend on your balance while it's in there!

You have lots of options!

Olivia

[MGhostSoft]

Thank you so much Olivia. Leaving the money in PayPal account balance is exactly what I want.