How long to get a refund via paypal?

Cherry_Bomb

I ordered and item on ebay.
Received an email today from the seller advising the item has been damaged whilst in storage and would I prefer a refund.

Just wondering if anyone knows how long it could take for the money to be back in my account if the seller refunds me through paypal (which I'm just assuming they will seeing as that's how I paid)

pendulum

If you mean back into your PayPal account (not your bank account) it's usually instant in my experience, however if the item is high value PayPal sometimes hold on to it for a few days. I had to wait several days for a £290 refund to appear back in to my PayPal account after a seller refunded me.

arcon5

They will hold it if the original source of the money is an instant bank transfer... they then release it to your account balance once they are 100% sure the DD they call with your bank has been successful.

If your original balance covered the payment, should be instantaneously.

Cherry_Bomb

Thanks for the reply.

Having never had a refund through ebay I don't rally know the ins and outs! So the seller will refund me back into my paypal account which should (hopefully) appear straight away and then I can transfer that myself into my bank account?

Cherry_Bomb

arcon5 wrote: »

They will hold it if the original source of the money is an instant bank transfer... they then release it to your account balance once they are 100% sure the DD they call with your bank has been successful.

If your original balance covered the payment, should be instantaneously.

An instant back transfer? Sorry I'm confused

I paid via paypal and the money was taken from my bank account instantly

arcon5

thats generally correct, but if you used your card to make the initial payment, as far as I know it is put straight back on your card.

The seller can take upto 30 days to refund monies -- although may not be the case here.

arcon5

Cherry_Bomb wrote: »

An instant back transfer? Sorry I'm confused

I paid via paypal and the money was taking from my bank account instantly

when you make a payment you can select the 'Instant bank transfer' as the source of the payment... prior to this you would have agreed to paypal having a DD with your bank... so they will request the money from you bank this way -- although the payment is sent instantly it can actually take several days to clear.

Cherry_Bomb

Ah I get it now. I only bought this item on the 6th so If the payment is still being held I wonder if this can be stopped so the money is just released back into my bank?

Just a thought out loud

Hopefully it won't take up to 30 days. The seller seems very reasonable and was quick to inform me of the damage so fingers crossed they refund me asap.

Thanks again for the help!

arcon5

It can't be stopped. But it can fail. There's nothing you or paypal can do to stop it (you shouldn't be able to either as it woul open it up to abuse by fraudsters).. but it can fail for reasons like insufficient funds (which if a transfer fails it carries a fee in the region of £25 depending on your bank account). Maybe best to wait a few days for the automated processes to complete