Managing Preapproved Payments
Introduction My name is Sarah, and I am new to the forums. My eBay seller name is "sarahwebb," and my store is Linden Tree Ephemera. After spending too much time searching and encountering many incorrect answers for this topic, I finally found a solution and decided to write a tip. I began my search because I knew I had a recurring payment coming up, and I did not have sufficient funds in my PayPal account to cover the charges. I did not want to use my bank account as the backup funding source because I feel that it is inconsiderate to make the merchant wait several days for their payment when the money would be instantly available if my backup funding source was a credit card. As a seller, I hate to receive payment via echeck and do not want to put merchants that I use in the same situation. The first 20 or 30 answers I read said it was not possible to change the backup funding source. Finally, I found a solution that was written in 2009. It was almost but not quite right. I figured out how to do what I needed to do and have written this tip to help others.
How to get there: Profile/My Money/Preapproved Payments/Update This will take you to a list of your preapproved payments
Click the merchant's name for options to: Cancel payments Change backup funding source
General Good Housekeeping Tip Periodically check your list of preapproved payments and cancel any payment that you no longer want to authorize. Once I found this section, I saw that I had payments going back to 2010 that I hadn't used in years. Some merchants appear to cancel the payment when you end your relationship or contract with them. Others will remain active until you manually cancel them. Knowing about manually cancelling a preapproved payment would have been extremely helpful to me when I unsubscribed from Audible several years ago. They continued to draw payments for my membership, and it took me many attempts and several months to sort it and get them to refund payments drawn after I had ended my subscription. I think, though I cannot think of any way to verify it, that cancelling the payments from my PayPal account would have prevented this situation. All the best. Please give me Kudos if this tip is helpful to you. Sarah
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