PayPal Cancellation Information

About PayPal
PayPal business and personal accounts allow you to shop online without revealing your personal banking account information. It also works as a money-wiring service that you can use to send or receive money from individuals as long as you have their PayPal account user information, which is the e-mail address they have attached to their PayPal account. PayPal is the preferred source of payment on eBay, the internet's largest online bidding website.
How Transactions Work
Transactions are usually immediate, with funds being able to be withdrawn to the recipient's account moments after sending them. The user can also request a check to be mailed for the amount to their home address. This usually takes three to four days. Additionally, the money can be left in the PayPal account and be used to purchase other goods or services. However, it is not necessary to have money in the account, as PayPal will deduct the amount of money from the linked financial account upon purchase.
Cancelling a Sent Payment
PayPal payments that have already been sent can only be canceled if they are unclaimed. Unclaimed payments can be canceled for a variety of reasons, including if payment is sent to an e-mail address that is not linked to a PayPal account or if the recipient had an unconfirmed e-mail address. PayPal can only send payments to confirmed e-mail addresses. E-mail addresses are confirmed automatically when you sign up for PayPal.Canceling an unclaimed payment is simple. To do so, login to your PayPal account by accessing www.paypal.com. You will need the e-mail address and chosen password that you signed up with to login. Click 'Sign In.' Then, click the 'My Account' button. Click the 'History' button, then click 'Cancel' in the order status column next to the transaction you'd like to discontinue. This will bring you to a screen to confirm your cancellation. Click 'Cancel Payment.' Your payment will be refunded to your account.If there is no 'Cancel' option, this means that the payment has been claimed. You must contact the person to whom you sent the payment to have them refund it to you.
Cancelling a Received Payment
Canceling a payment that you have received is as easy as refunding the payer. Any payment can be refunded within 60 days after the payment was sent on PayPal. You can issue either a full refund or a partial refund, depending on what you and the payer have agreed upon.To do this, login to your PayPal account by accessing www.paypal.com. You will need the e-mail address and chosen password that you signed up with to login. Click 'Sign In.' Then, click the 'My Account' button. Click the 'History' button, then find the payment you'd like to refund and click the 'Details' button next to it. Click 'Issue Refund,' and enter the refund amount you'd like to send, then click on 'Continue.' This will bring you to a screen that will allow you to confirm your refund amount. Now, click 'Issue Refund.'
Canceling your PayPal account
Canceling a PayPal account can be done with a few simple steps through www.paypal.com. Before canceling your account, be sure to withdrawal any funds that you have in the account to the bank accounts linked to it. Also, you may want to be sure that you do not have any pending payments that could come through to the PayPal account that you wish to close. Once the account is closed, the payments will be bounced back to the user who sent them to you.To cancel your PayPal account, log in to your PayPal account by accessing www.paypal.com. You will need the e-mail address and chosen password that you signed up with to login. Click 'Sign In.' Click 'Profile' at the top of the homepage, then click 'Close Account' under the Account Information. This will lead you through a series of steps to successfully close your PayPal account.

How to Use PayPal With a Tuxedo Card

1. Go to the PayPal website and click 'Sign Up' to register for a PayPal account. Click 'Get Started' below 'Personal' to create a personal PayPal account.
2. Enter your required information such as email address, password, mailing address, and phone number. Double check to ensure the information you entered is correct.
3. Check the 'Link my credit card' box, then enter your Tuxedo card number, expiration date and the three- or four-digit card security code. To authorize this card, PayPal will charge a small fee to make sure there is money on your card -- this fee is under a couple of dollars and will be credited back to you within two weeks.
4. Read and agree to the user agreement and privacy policy by clicking 'Agree and Create Account.' Your Tuxedo card will now be linked to your PayPal account, and you will be able to start making online purchases with your account immediately.

How to Withdraw From PayPal to Payoneer

1. Open your Internet browser and click the URL field. Type 'paypal.com' and press the 'Enter' key on your keyboard.
2. Enter your email address and password, and click the 'Sign In' button.
3. Move your cursor to the 'Withdraw' tab and click 'Transfer to Bank Account.' Enter the total amount in your PayPal account in the 'Amount' section and select your bank account in the 'To' section. Click 'Continue' and click 'Submit' to confirm the action.
4. Move your cursor to the 'Profile' tab and click 'More Options' from the drop-down menu. Click the 'Close Account' link under the 'Account Information' section.
5. Click the box next to 'Phone Number' and click 'Continue' to confirm you wish to close the account. PayPal will call you to verify the action. Complete the account closing process by following the instructions given over the phone.
6. Click the URL field, type 'payoneer.com' and press the 'Enter' key on your keyboard. Scroll to the bottom of the screen and click the 'Want a card but not paid by a Payoneer partner?' button. Click 'Next' to continue.
7. Enter your account information including your name, address, phone number and social security number. Click the 'Next' button.
8. Select the card design you wish to have, and click 'Next.' Read over the agreement policy and your account information, and click 'Submit.'

How to Pay With a PayPal Account on eBay

1. Click the 'My eBay' link at eBay.com to link your PayPal and eBay accounts. Click the 'Account' tab at the top of the page. Click the 'Link My PayPal Account' option in the 'PayPal Account' link to complete the process.
2. Click the 'Pay Now' link in the auction page, the email confirmation or in your 'Purchase History' page. Verify your shipping address, the shipping method and total amount. Click 'Continue.'
3. Select 'PayPal' in the payment methods page. Enter your PayPal login information to log into your PayPal account.
4. Verify your shipping address details and total. Click the 'Confirm Your Payment' button to finish the transaction.

Do You Have to Claim Taxes on Money Earned with PayPal?

1099-K
Starting in 2012, PayPal will be required to submit a 1099-K form to merchants whose payments exceed a certain threshold. This new rule applies to any sales made and payments received beginning on Jan. 1, 2011. If you receive payments through PayPal and have gross sales of $20,000 or more and receive 200 or more PayPal transactions during the year 2011, you can expect to receive one of these 1099-K forms in the mail in 2012. You will then use that 1099-K information, along with information about your allowable expenses and deductions, to complete your tax return.
Self-Employment Income
Many freelancers and self-employed individuals are paid through PayPal. For instance, freelance writers often accept PayPal payments, from individual clients and from large companies who outsource their online and traditional print content. Today even the largest of companies use freelance workers to do everything from web design and development to secretarial services, and those companies often pay their workers through PaPal deposits. If you receive PayPal income for freelance work, be sure to carefully track each payment, and any expenses associated with earning that money. Accounting for each payment makes it easier to prepare your taxes and get the deductions to which you are entitled. If you receive more than $600 in payments from any one client, that client is required to issue you a 1099 Form. You will then use that 1099 information to prepare your tax return.
Business Income
Many people who run small businesses derive part of their income through PayPal payments. It is often much easier for individuals and other small businesses to pay through PayPal, and Paypal can also be preferable to a standard merchant account for online purchases. No matter what percentage of your business comes from PayPal, it is important to carefully track all of the expenses associated with that income. Tracking everything you spend to run your business will make it much easier to prepare your tax return and get the deductions you deserve. You can use a spreadsheet if you want, or you can purchase a small business accounting program. But no matter which method you use, you need to keep all of your receipts in case the IRS challenges or questions a deduction on your tax return.
Track Costs
Chances are not everything coming in to your PayPal account was pure profit. If you are a seller on eBay for instance, you have expenses such as listing fees and final value fees, as well as the original cost of the items you sold. If you are a freelance worker or someone who runs a home business, you might be able to write off the cost of your home office, your Internet service, your office supplies and other legitimate business expenses.If you receive part of your income through your PayPal account, now is the perfect time to start tracking your expenses as well as your payments. Keep a spreadsheet that lists the original purchase price of each item you sell on eBay, along with the listing fees and final value fees. Also track any fees PayOal takes out of your account, since all of these items can be deducted when you do your taxes.

How to Earn Money in a PayPal Account Without a Credit Card

1. Go to the PayPal.com homepage.
2. Enter your PayPal email address and password, and click the 'Login' button.
3. Click the 'Profile' button.
4. Select the 'Bank account' link located under the 'Financial Information' subsection.
5. Click the 'Add Bank' button.
6. Select the type of account you want to link to your PayPal account. You can select a Checking or a Savings account. Enter your bank account's routing number and account number in the appropriate boxes. Click the 'Continue' button.
7. Select the 'Instant Confirmation' option and enter the username and password used to access your bank account's online banking system. Click the 'Confirm' button.
8. Click the 'Add Funds' link from the PayPal homepage.
9. Select the option to 'Add funds from a U.S. bank account.
10. Select the bank account you added from the drop-down menu and enter the amount you want to transfer to your PayPal account. Click the 'Continue' button. Click the 'Confirm' button. The transferred funds will appear in your account in approximately three to five business days. Alternatively, you can have another PayPal member transfer funds directly to your PayPal email address.
11. Leave the funds in your account. PayPal will pay you interest based on the current Prime rate.

How to Download From the App Store Without a Credit Card

1. Sign up for PayPal if you do not already have an account. Go to the PayPal homepage and select the link to sign up for an account. You will be asked to enter personal information.
2. Add money to your PayPal account. Click “Add Funds” at the top of your PayPal account overview page. Choose the bank account you want to withdraw money from, type the amount you want to send and click “Continue.” The process takes two to five days. If you do not have a bank account attached to PayPal, select “Add Account” and fill out the information needed.
3. Open iTunes.
4. Click “Store” on the toolbar.
5. Select “View my account” from the menu.
6. Enter your password and click “View Account.”
7. Click “Edit Payment Information.”
8. Select PayPal.
9. Click “Continue.” You will be redirected to the PayPal website to verify your PayPal account.
10. Enter your PayPal login information on the screen that appears and select “Log In.”
11. Click “Agree and Continue” to verify that you want to use PayPal as an iTunes payment method.
12. Click “Continue to iTunes store” after you get the notification that the process was successful. Remember, you still need to wait until the money is transferred from your bank account to PayPal before you can start purchasing from iTunes.
13. Select the “App Store” tab in iTunes when you are ready to purchase applications.
14. Find the app(s) that you want to buy.