With the array of payment methods accepted by merchants today, Paypal has become a popular payment tool. Paypal has various products with different features that you can choose from to meet your needs. Paypal is a convenient, secure method of sending and receiving payments. However, mistakes of payments and transfers can occur, so you need to know how to correct a wrong transaction if it occurs. Paypal gives you 60 days to correct payments in which they will still honor refunds of Paypal fees, if you are charged any.
Cancelling Paypal Transactions
Step 1
Sign in to Paypal. You will need your email address and password. If you do not remember your password, you can click the forgot password link to have a temporary password sent to your email address. However, you will need your email address. If you do not remember it, you can try to recover it by clicking the forgot email address link. You will have to provide your name, zip code, telephone number, and last four digits of your debit or credit card if you have used it on your Paypal account. If you still can not recover your email address, you will have to create a new account.
Step 2
Find the transaction you want to cancel. The transaction could be a payment you requested or sent. You will need to click on the history tab and perform a basic search that will return all of your Paypal transactions.
Step 3
Cancel the transaction. Once you have selected the transaction you wish to cancel, click on the details link beside the transaction. This will provide details regarding the transaction, such as how much the payment is for, along with the transaction confirmation number. At the bottom of this screen, you will see a link to issue refund. Click the button which will provide detailed information of the transaction. If the information is correct, press the continue button and the confirm button on the following screen.