I sent funds to a wrong email address for an RC car using Paypal, funded from my American express. I cancelled the transaction 36 hrs ago but still have not received credit back from paypal to my Credit Card. Contacted Paypal, they came back with response it may take upto 30 Days.

Has anyone had a simalar problem and if so how long did it take to get your refund.

I am angered a bit about this as they donot mention this anywhere on their site that i can see it may take so long.

It took them only 1 hour to take the funds from my credit card I would expect 24 hrs should be long enough to return the money as I still want to use the service to close the transaction.

Jerry Kahmann
Australia

Paypal is a bank (XBank), and banks make money on float (interest on the time they hold your funds). That's why they hold funds transfers for 3-4 (at least) business days. Anyway, call and ask for a supervisor. The CS reps who man the phones are only authorized to read a screen. The supervisor will reverse the transaction and you'll get credit in the normal 3-4 days instead of 30.

Its much better if you connect paypal to a bank account for this reason. They can take the funds out of your bank, and put them back just as quickly. However, if someone sent you money, and they request a cancle, it can take it out, and you can get screwed trying to get it back.