If canceling a limit order but reordering, will I have to pay another transaction fee?

[Alicia Parrish]

I put a limit buy order in for probably too high a rate and wanted to see about canceling and then doing another limit buy at a lower (hopefully more favorable) rate.  Will I have to pay the USD 1.49 transaction fee again?  Or does that only apply for when PayPal is used for the initial order?

Edited September 24, 2020 by Alicia Parrish
Typo

[Rolig Loon]

Nope.  That fee isn't charged until the order goes through.  If you canceled the order, you shouldn't have been charged yet.

[Alicia Parrish]

So when I trying to decide how many $L i wanted to buy, I backed out the transaction fee from the amount I was buying, so my total order cost would match the amount in my PayPal. 

In other words, if I wanted to put an limit buy order in but only had $50 USD in my paypal, then when I ordered it would be for $48.51 in $L and then $1.49 transaction fee.  So you're saying that if I cancel my order, I would show $50 in my SL USD account but would still need to only order $48.51 of $L on my reorder.  And if that order was fulfilled, the transaction fee would be taken at that time (on the second order).

[Rolig Loon]

If you cancel your order, the money that has already been uploaded from PayPal to pay for your L$ purchase will be moved from escrow into the USD balance in your account.  When you place a new order, the system will tap that balance instead of getting more money from PayPal.  It will only ask PayPal for more money if your USD balance isn't enough to cover the new order.