PayPal Subscription
This information is provided by PayPal as at November 2011. Recurring Payments
A Recurring Payment is a payment in which you (as a buyer or a sender of funds) provide an advance authorisation to a third party (such as Trade Your Charms.com) for a third party initiated payment, that is a charge to your PayPal account directly on a one-time, regular, or sporadic basis. Recurring Payments are sometimes called “Subscriptions”, “Automatic Payments” or “Preapproved Payments”. Recurring Payments can be managed from your PayPal Account. By providing an advanced authorisation for a third party initiated payment, you are giving the third party the ability to collect or reverse variable payment amounts from your PayPal account until such time as this arrangement is cancelled.
Cancelling Recurring Payments
Buyers or senders of funds may cancel a Recurring Payment at any time up to 3 working days prior to the date the payment is scheduled to take place. Merchants must provide buyers with the ability to cancel a Recurring Payment within 3 Business Days of the scheduled date of the Recurring Payment. If your payment is funded by your bank account, then you may cancel this payment following notice of the payment to be made by contacting PayPal customer support via email or telephone. To cancel a Recurring Payment generally, log into your account, access the “Profile” tab, beneath the “Financial Information” column, click the “My Pre-Approved Payments” link, select and click the relevant merchant and follow the instructions to cancel the payment. If your Recurring Payment is not in this column, then access the “History” tab instead of the “Profile” tab and access “Subscriptions” and follow the directions to cancel the payment. Recurring Payments may also be referred to as “subscriptions” or “preapproved payments”. If you cancel a Recurring Payment you may still be liable to the merchant for the payment and be required to pay the merchant through alternative means.
