Business

How to Cancel Recurring Payments on PayPal Business Account

Paola Faben Oliveira

30.03.23 (updated more than 1 year ago)

Read time 2 minutes

PayPal business recurring payments is a feature offered to companies that allow them to collect payment for a particular product or service on a regular basis. Recurring payments are usually set up for subscription-based services.

This article will show how to cancel subscriptions on PayPal business account. It will also show you how to save money on international payments in different currencies using Wise Business

Cancel recurring payment on PayPal business account

PayPal business automatic payments allows you to set up payments for subscriptions on your PayPal account, and it can even be linked to your website. The robust reach that PayPal has means that you can receive subscription payments and recurring payments from customers all over the world.

However, there are multiple reasons why you might need to cancel a recurring payment for your business. You could be discontinuing a particular subscription product or service, and as such, no longer need to charge recurring payments from your customers or subscribers.

When cancelling a recurring payment service on PayPal, it is important to do so before a new billing cycle commences, so that your subscribers do not get charged for a service that they aren’t going to use.

As a business on PayPal, if you want to cancel recurring payments, here’s what you have to do.¹

Log into your PayPal business account
Go to the Manage Subscriptions page
Click the Subscriptions tab on the left side of the page to see all your active subscription plans.
Click the subscription plan you want to cancel and look for the cancel subscription button
Click proceed on the confirmation page that shows up, and finish.

How to cancel a subscription to a merchant on a Personal Account

PayPal allows scheduled automated payments for personal PayPal accounts such that you can pay for your subscriptions directly to a merchant. The merchant, in this case, is the business that you are subscribing for their products. A merchant could be your gym, and you could use PayPal to pay for your gym membership.

However, in the event that you no longer wish to maintain that subscription, you can easily cancel it from your PayPal account. Ensure that you cancel your subscriptions before the next billing cycle starts to ensure that you don’t get charged for a service that you aren’t going to use.

Cancelling subscriptions or automatic payments to a merchant from your personal PayPal account is easy. Here are the steps that you need to take.

Log in to your Personal PayPal account via a browser
Click the cog icon in the top right corner to go to the Settings page
Select the Payments tab.
Scroll to the Automatic Payments section and Click Manage automatic payments
From the list of merchants provided, click the merchants whose subscription you want to cancel, and then click Cancel under Status.
You’ll be directed to a confirmation page, click Cancel Automatic Payments to ensure that you stop payments to that specific merchant.
On the verification page that follows, click Done.
And that’s all, the subscription to that merchant has been cancelled.

How to save money when transferring from PayPal to your bank account

When selling online, your choice of payment platform determines just how much you spend on fees and commissions. This is where Wise Business shines.

Wise provides a multi-currency account that allows you to receive, send and hold money in various currencies. You can also convert between currencies at the real exchange rate with no mark-up for a small and transparent fee.

There are many other ways that Wise Business helps you save money.

Wise Business multi-currency account allows you to get local account details for 10 major currencies to receive money like a local.
Wise also provides you a Wise Business debit card that you can use anywhere while enjoying the real exchange rates, without a mark-up.
Link your transactions to Quickbooks or Xero for easier reconciliation.

Get started with Wise Business

Sources used:

Recurring payments dashboard

Sources last checked March 30, 2023

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.