How do PayPal refunds work? (all you must know)
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Refunds are a great tool when shopping. Refunds allow you to get your money back if you are not completely satisfied or if there is a problem with the item or service.
If you recently purchased an item through PayPal, you may be wondering how PayPal refunds work and how do I get a refund? I did some research and this is what I learned!
How will PayPal chargebacks work in 2022?
PayPal Refunds in 2022 are a simple process. First, you must request a refund directly from the seller. Also, depending on the payment method you originally used, this will determine where the refund will be and when it will be processed. Fortunately, there are no additional fees for issuing or receiving refunds.
If you want to learn more about how to request a refund, how long it will take to process, where to get the refund, and more, keep reading!
How to apply for a refund?
First, PayPal doesn’t refund your payment, the seller you originally paid for will refund your payment.
Therefore, to get a refund, you must request a refund from the seller you originally paid for.
Additionally, you have 180 days from the original payment to the seller to request a refund.
Additionally, to request a refund:
- First, you need to log in to your PayPal account
- Second, go to the “Summary” page, find and select the transaction you want to refund, you will see the seller’s contact information
- Finally, email the seller with the contact information
- Also, in the email, you’ll need to ask the seller to go to the “Transaction Details” page, get the money you want to refund, and click “Issue Refund”
Also, if the seller doesn’t return your money, you may be eligible to file a dispute.
Where will my PayPal refund go?
Your refund will be returned to where you originally paid. So if you paid with a credit or debit card, it will be credited back to your credit or debit card.
Also, if you paid with your PayPal balance, the money will be refunded to your PayPal balance.
However, there is an exception, if you paid with a bank account, the money will be refunded to your PayPal balance.
Once the money has been deposited into your PayPal balance, you can transfer it to your bank account if you wish.
Additionally, if the payment is split between two payment methods, such as your bank account and credit card, the amount you paid from each payment method will be credited back to its origin.
How long does it take for a PayPal refund?
Unfortunately, the processing time for refunds depends on how the refund was paid for.
- Up to 30 days for debit or credit cards
- Bank account (PayPal balance) takes 3-5 business days
- Paypal balance is instant/same day
Also, it may take 3-5 business days if you pay using your bank account and transfer the money to your PayPal balance and then transfer the money back to your bank account.
Are there any fees for PayPal refunds?
Fortunately, there are no fees when issuing refunds as a seller or receiving them as a buyer.
However, any fees originally paid to process the transaction (usually paid by the seller) will not be refunded.
Why is my PayPal refund pending?
If your refund is pending, it’s because there isn’t enough funds in the seller’s PayPal balance for the refund, so funds are being transferred from the seller’s bank account.
Also, bank account transfers to PayPal usually take around 3-5 business days to process unless instant transfers are used.
Also, you will receive your money once the funds have been processed.
Will PayPal refund money if I get scammed?
Fortunately, if you get scammed, PayPal will refund your money through PayPal’s Purchase Protection Program as long as your purchase is eligible.
PayPal Purchase Protection protects buyers if they didn’t receive the item they purchased, the item was in an incorrect condition, or there was an unauthorized charge to the account.
Additionally, items that are not eligible for PayPal Purchase Protection include:
- real estate
- car
- prepaid card
- industrial machinery
- custom project
- donate
- Anything that violates PayPal’s policies
- Any personally purchased item
- any item accurately described
- Friends and relatives transactions
- Anything reported after the 180-day or 60-day period (depending on the dispute that occurred)
Additionally, you must report that your purchase has not been received or that the item was in incorrect condition within 180 days of the original payment.
If you report a problem within 180 days, you will receive a full refund, including any shipping costs.
Additionally, if an unauthorized charge occurs on your account, you need to report it within 60 days of the charge and you will receive a full refund.
To learn more, you can also read our posts on how long PayPal refunds take, PayPal friends and family refunds, and PayPal complaints.
in conclusion
Fortunately for PayPal users, refunding via PayPal is simple. Plus, there’s no extra charge for receiving or issuing refunds, and you’re protected from scams.
Also, to get a refund, you must first request a refund from the seller you originally paid for. The money will then be returned to the payment method you originally used. In addition, the payment method also determines the processing time of the refund.
