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Refund Policy

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mvaldez1
New Community Member
Posted on

Has any one had issues with getting a refund back in a timely manner? I cancelled a transaction on the same date within minutes of each other.  They withdrew the money from my account and now they are telling me that I have to wait 14 days for the funds to be put back into my bank account? How is this even reasonable! I made a large purchase, then cancelled and now I have to wait 14 days to get my money back when they received their funds within days.  The person at PayPal I'm chatting with is telling me that the refund policy is 3-5 business day for them to receive the money and then 3-5 business day for the refund.  Where is this written? Has anyone seen this? How ridiculous. 

1 REPLY 1

Refund Policy

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kernowlass
Esteemed Advisor

@mvaldez1 

 

Transfers from bank accounts are never instant as Paypal use electronic transfers ie echeques (cheaper but slower).

Funds normally leave your bank account from a few hours > few days later but they take several working days to clear through to the seller/Paypal as they go via ACH in batches.

Its called instant because normally Paypal credit the seller upfront and then Paypal take the wait for the funds to transfer, this is so you get your item without delay.

However there are times however when its you and the seller / recipient that take the wait for the echeque to clear and here are some of the reasons...

1. Back up card has expired or needs updating.
2. You have had a recent negative balance or failed bank transfer (so paypal are not going to credit the seller in advance in case it happens again).
3. For some high cost riskier payments / transactions.
4. Friends / family payments *funded from a bank account* as this option is free then its you that takes the wait this time.
5. Clearing a negative balance.

6. Refunds funded from a bank account ie echeque.


Advice is voluntary.
Kudos / Solution appreciated.

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