Help! How do you refund a pending payment that already says "money received"?

[AshyKath]

My boss was supposed to send me 46,000 PHP for our salaries but he accidentally sent me 46,000 AUD. That's about 1.5 million pesos. The transaction is currently on pending status so the amount has not entered my balance yet. But while the transaction is pending, it also says "money received" even though the amount hasn't come in yet.

Since it is on pending, there is no refund button on the transaction unlike the others. I can't refund the payment. My boss also can't do anything because on his end, it says it has been cleared on my side.

[sharpiemarker]

@AshyKath 

Click the transaction.

1. Make sure it doesn’t say that an eCheck is pending and it has not cleared yet.

2. Does PayPal say the payment is on a 21 day hold? 
If there is a 21 day hold…

There are two methods to release money sooner depending on what you see on your screen:

Method 1:

Recipient has to change the order status or add tracking: 

1. Go to Activity page.
2. Find and click the transaction to update, then click Get your money or Get money sooner.
3. *If you sold a product, select Product to add tracking information or print shipping label directly.
4. **If you received payment that do not require shipping, selling an intangible item or service, select Service or virtual product to confirm order status.
5. Click Submit.

*Use one of the approved shipping carriers and PayPal release the hold 24 hours after the courier confirms delivery to the buyer’s address.

**Recipient will get their money 7 days after confirming the order status as Completed.

Method 2:

If there are no issues with the transactions such as disputes, claims or chargebacks, the funds should typically be released within 21 days from the date of payment.

In some markets, the transaction can be marked as "Shipped" or "Processed" to gain earlier access to the funds.

Here's how to mark your item as “Shipped” or “Processed” in the Transaction details:

1. Log in to your PayPal account.
2. Go to Activity page.
3. Find and click the transaction to update.
4. Click Add tracking info button.
5. Click the Order Status menu and select Order Processed if selling virtual goods, performing a service or receiving a personal payment***, otherwise select Shipped and provide tracking number if available. If tracking is not available, check off the Tracking information not required box.
6. If you need to change Order status or Tracking info later, click Edit tracking info in the transaction details.

***Some countries are without friends and family option and must use goods and services option.

Then, after 48 hrs from payment date, ask Sender to ‘confirm receipt’, here’s how:

1. Go to Activity page.
2. Find and click the original payment for the item.
3. Click Confirm receipt.
4. Click Yes to confirm that you received the order.

Note: Not all transactions will have the ‘confirm receipt’ option nor is required to confirm receipt. If customer does not confirm or confirm option not there, you’ll have to wait 7 to 21 days for PayPal to release funds.

Once the payment is released, issue a full refund:

How do I issue a full or partial refund?