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I got a paypal refund from a business yesterday for a cancelled order. Refund has been on 'temporary hold' since then. Emailed PayPal but not response as yet. Any idea why a refund from an established business would be put on hold?
I had this a few weeks ago when I bought some bits and sent the money to the wrong paypal address, who then refunded it to my account. The refund was on hold for a few days. I think it's because:
-Paypal want to check out any possible fraudster links
-Paypal want to make sure it's legit payment (not a mistake)
-They might want to sit on the money for a few days to bolster their cash reserves (sheer speculation, but I would imagine the immense amount of cash going through their books may make this quite a profitable little side effect)
It's quite normal Paypal will hold onto the funds for up to 7 days.
Don't see why they should be able to hold on to money that should be in my account. Anyway I'm sure they'll reply in the next few days.
did you pay from a current account? It could be that the funds haven't reached their destination yet and they can't refund them until they do apparently.
I did use a current account.
Just got a response - direct debit to get the funds from my account can take 3 days so can take up to 7 days for refund blah blah blah. Apparently still use bacs for payments but the payment came out of my bank account next day mmm.