We are always looking for ways to make our life easier. With all the technological resources available, it’s an easy task, such as sending or receiving money from one country to another. PayPal offers the option to set up automatic dispatches when you want to manage high volumes of transfers or subscription-based services. However, there might come a time when you need to cancel recurring payments on PayPal.
This article will show how to cancel PayPal payments as a customer and an online merchant. Plus, learn how to save money while using different currencies. Check it out!
How to cancel recurring payments on PayPal?
If you have a PayPal account, it’s worth noting that it offers a few possibilities. One of them is to set up automatic payments. This option helps collect remittances for a particular product or service regularly through the platform. Or to manage high volumes of recurring payments worldwide. For example, a preprogrammed amount authorizes a charge whenever you make a purchase or send money to an employee.
Every time you want to check it on your PayPal account, tap “Wallet” while using the app and scroll the screen of your phone until you reach “Automatic Payments”.
Through the website, go to Settings, click on Payments, choose Manage Automatic Payments, and select Show Active. On the same page, you can cancel recurring payments on PayPal or update the payment method.
Before moving forward with the cancellation, check if a new billing cycle is not on the course. Otherwise, charges can be mistakenly applied, but you can always reverse a payment you already sent (if it’s the case). So after logging in from a browser, follow the steps we shared above:
- Use the main menu and go to “Settings” (gear icon);
- Click on “Payments” on the submenu;
- Choose the option “Manage Automatic Payments”;
- Select “Show Active” to see only the current payments.
All active payments will appear on the next page on the left. Click on any of them to review the details before proceeding. Then choose the one you wish to cancel.
PayPal will ask for your confirmation. Once it’s done, the platform will stop the recurring payment. Besides, if ‘cancel’ is not an option in the Order Status/Actions, it means the payment was already claimed. So you can’t cancel it, but you can request a refund.
Canceling a recurring payment on PayPal as a customer
Now let’s evaluate how it works from the customer’s point of view. Next, we will review the merchant’s side. Therefore, you will have a complete overview of how to cancel recurring payments from PayPal. If you are paying for a subscription service using your account linked to the platform, the first step is finding the Profile at the top of the page. Click on “My Money” and then “Manage Preapproved Payments”.
This place is where all your recurring and scheduled payments will be. If you have an unwanted subscription or any bill you forgot, you will find it here. Review all and click on the cancel button when you face a payment you don’t want anymore.
Canceling a recurring payment on PayPal as an online merchant
As an online merchant, you might receive a request from a customer to end a recurring payment on PayPal. Log into your account and check the quick links available on your dashboard. You might find one called ‘recurring payments.
If it doesn’t appear as soon as you log in, go to the Pay tab, then Get Paid. You will see Subscriptions under Accept Payments.
You can access all your active subscriptions — labeled as “active profiles” — on this page. Check the name of the customer that requested the cancellation and click on the cancel button. Follow the instructions to confirm the action. Meanwhile, your customer will receive a notification about the end of the current bill cycle.
How to save money while using different currencies?
PayPal is a digital platform that can help you to send and receive money no matter where you are. However, when it involves different currencies, the more you use it, the higher the costs with fees and commissions. How to avoid this situation and save money while dealing with multiple currencies? Husky is the answer.
As a digital exchange platform, Husky offers a multi-currency account to manage international payments — whether it’s only one or a whole batch. It’s a single account for quick transactions using multiple currencies, free of bureaucracy, and with low fees. Besides, you can take advantage of a fair conversion while following the exchange rate at Husky.
The platform converts values from any currency to Real, while attending to legal requirements and procedures within BACEN alongside risk and compliance assessments.
From the moment you register to when you make a transfer, every step is online, including support whenever you need it. Any money transfer arrives within one business day, no matter where you are. Husky charges 2% of the amount, which can be reduced to 1% (coupon), plus the IOF (0.38% or 1.1%). That’s it! No hidden fees or small print.
Now that you know how to cancel recurring payments on PayPal, you might consider other options to manage your money as well. When it comes to international remittances, web platforms usually come before money orders, bank transfers, or similar services provided by the post office. You only need to find the most cost-effective alternative to save your time and money.
Do you want to simplify the way you manage payments worldwide? Then meet Husky to automate your routine while you make multiple payments at a glance.