Why is a cancelled payment not immediately refunded to my account?

[IamtheMeatman00]

I bought an item the other day and paid using my paypal account.  The seller than contacted me and told me to cancel the payment as the item was no longer available.  I cancelled and a Temporary hold was placed.  That was Sunday, it is now Wednesday, why are you still holding my money?  The payment was made, than 2 hours later, cancelled.  Why is my money being held?  This is ridiculous and not the first time I have had issues getting money from PayPal back to my back account.  You can take money immediately out but hold it indefinitely, and then take up to 10 days to transfer back to my bank account?  WTF?  Can't wait for another more convenient source to pay for online purchases.  If you know of any, let me know

[profdata]

Sounds like your paypal payment was funded from your bank account.

Bank account funded payments are not instant, they still have to clear like a paper check, which usually takes 2-5 business days.

Once it clears , you should be refunded automatically and show as a balance in your paypal account