Money withdrawn after transaction was cancelled

[dath101]

Hi there, I sent some money the other day, but cancelled it since I sent it to the wrong account. I cancelled it before it was deposited. Yet I woke up this morning and saw the money was withdrawn from my bank account this morning… in PayPal it shows money is cancelled. Will I be refunded or this money lost?

[kernowlass]

@dath101 

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 but that takes a few days and sometimes up to a week.

[dath101]

I reacted as fast as possible, it’s not showing refunded in PayPal, should I be worried? But it does show money is canceled.

[kernowlass]

@dath101 

You could cancel it 1 second after paying it would still have to process through to paypal and then back to your funding source.

And its not a refund so it won't show as a refund, its a cancelled transaction.

[dath101]

Thanks a lot for the help!!

[dath101]

So, are you saying the money will go out of your account for a few days and then return?

[kernowlass]

@dath101 

Try reading my first post on this thread again, its pretty clear.