In this article, I’ll simply show you how to cancel your Paypal recurring payments. Paypal is a digital payment platform that allows individuals to make and receive payments with ease. With Paypal, online payment has been made to be swift and easy as you no longer have to visit a bank or use your credit card to make payments. Paypal has gained wide popularity since it was founded and currently has more than 360 million active users from different parts of the world. Not only does Paypal make only payment easy and fast, but it also provides a secure and safe means of sending and receiving money by ensuring that the information of users and kept safe.
PayPal also possesses features that allow users to set up and also cancel their recurring payments which allows you to handle your recurring bills easily. Paypal automatic or recurring payment option can be cancelled easily if you no longer feel the need to continue based on reasons like having to pay for an item you no longer need. We will give you details on how to cancel your Paypal recurring payment with ease.
How Does PayPal work?
As said earlier, Paypal is one of the most popular digital payment platforms in the world. It provides a safe and secured means to make online payments without compromising your information or details. PayPal works by allowing users to link their credit card, debit card or bank account to their PayPal account. With the Paypal account, you have created, you can now make payments when you buy stuff online. PayPal goes beyond making payments to merchants; you can also send money to friends, family and acquaintances.
Features of PayPal
There are certain features that set PayPal aside from other online payment platforms. Some of these features include:
- You can create an account on PayPal for free and also carry out most transactions on PayPal without paying a fee. However, there are other transactions you might need to pay for before you can perform them.
- PayPal is secure. PayPal offers a secured platform for digital payment. Anything involving payment and online transactions is usually sensitive – PayPal knows this that is why they offer extra protection on their platform by ensuring that a merchant does not gain access to any sensitive information about their users. There are features set aside by PayPal to ensure top security for their users such as two-factor authentication, end–to–end encryption and much more.
- PayPal contains features that allow you to make personal transactions with your friends and family by using the ‘friends and family’ tab.
- With PayPal, you don’t have to pay a fee to make transfers. You only pay a fee if you need to make any form of currency conversion using the platform.
How to Cancel PayPal Recurring Payments
PayPal automatically renews membership subscriptions done on their platform but if you do not feel the need to continue using the recurring payment option on PayPal or you no longer have the funds to purchase a particular product anymore, you can cancel the auto-renewal option easily. Below are the steps to cancel recurring payments on the platform:
To cancel your Paypal recurring payments as a customer,
- Log in to your PayPal account with your details;
- At the top right corner of the page, click on the ‘settings’ icon;
- The settings page will open for you, click on ‘payments’;
- On the payment page, you will see ‘manage pre-approved payments’, in this page, you will find recurring and scheduled payments. Search for the particular payment you intend to cancel, you will see a button to cancel the subscription.
- Click on the button and follow the instructions given to you for your recurring payments to be cancelled.
How to cancel the recurring payment as a merchant:
You can also cancel recurring payments for a customer as a merchant; you can do so by following the steps below:
- Sign in to your business account with your details;
- Go to the ‘quick links’ section and click on ‘recurring payment’. You can also find recurring payments in the ‘Pay and get paid’ tab and then go to ‘accept payments’, you will see ‘subscriptions’ click on it.
- You will see all the subscriptions on the ‘active profiles’ menu. Search for the particular customer’s name on that list. You can also search for the customer using their subscription ID.
- Click on the subscription plan you intend to cancel.
- Follow all the instructions given to you and the subscription of that particular customer will be cancelled. Your customer will get a notification to that effect.
If a customer decides to reactivate their payment plan, it has to be reactivated from the customer’s end. This development is to prevent a merchant from using the details of a customer to commit fraud. As a customer, you can reactivate using your details.
How to Delete your PayPal Account
If you want to delete your Paypal account, you can do that by following some simple steps. However, you have to know that once you delete your PayPal account, your account and all your data will be lost. You cannot retrieve the old account, but you can create a new account using the same email address you used for the old account. To permanently delete your PayPal account:
- Visit the PayPal website at www.PayPal.com and log in to the account you intend to delete.
- On the top right corner of the page, click on the ‘settings’ icon.
- You will see a drop-down menu, click on ‘account settings’ and then click on ‘account preferences’.
- You will see ‘account type’ at the bottom of the page. You will see ‘close account’ beside the type of account you created. Click on it.
- You will be asked to give information on why you intend to delete your account. Click on the boxes that apply to you and type in your comments on and then the text box then click on ‘continue’.
- Confirm that you want to close your account and then click on ‘continue’
Once you are done with the steps above, your account will be permanently deleted.
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