What is a Void?
A Void is the cancellation of a credit card transaction before it has fully settled or been funded. It essentially stops the transaction from completing and prevents the charge from finalizing on the cardholder’s account.
Think of it as reversing a payment before it officially posts.
Most commonly, a void is used when a payment was processed in error, entered for the wrong amount, duplicated, or needs to be canceled shortly after authorization.
Void vs Refund: What’s the Difference?
Feature |
Void |
Refund |
|---|---|---|
Timing |
Before transaction settles |
After transaction has settled/funded |
Customer Impact |
Pending charge typically disappears or releases |
Money is returned after charge posts |
Fees |
May help avoid some processing costs depending on processor timing |
Original fees may still apply |
Reporting |
Cancels original transaction |
Creates a separate refund transaction |
Speed for Customer |
Usually faster |
May take several business days |
Common Reasons to Use a Void
Duplicate payment processed
Incorrect amount charged
Order canceled same day
Payment entered on wrong customer/account
Customer changed payment method immediately after charge
Benefits of Using a Void
1. Better Customer Experience
Customers often prefer a void because the pending charge can drop off faster than waiting for a refund.
2. Correct Errors Quickly
If the wrong amount was charged or payment was duplicated, a void can resolve the issue immediately.
3. Cleaner Reporting
Voids prevent unnecessary settled sales and offsetting refunds in reports.
4. Operational Efficiency
Reduces time spent processing refunds, reconciling statements, and answering customer questions.
5. Potential Cost Savings
Depending on processor timing, voiding before settlement may reduce certain transaction costs compared to refunding later.
Important Reminder
A void is only available before settlement. Once a transaction has settled, the payment must be handled as a refund instead.
Payments can be voided between:
10:00 PM EST (previous day) and 9:58 PM EST (current day)
After this window, the payment will be settled and must be refunded instead
How to process a Void
- Locate the transaction you wish to void. Click the blue arrow. If the transaction is eligible to be voided, you will see the Void Transaction option.
- Select the reason for the void. If you select other, a text box will open for you to provide more details. After selecting the reason for the void, click the Submit Void button.
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You will get a Void Transaction confirmation box. This is your last chance to cancel the void. If you want to proceed, click Yes.
- After the successful void, the void will show in the transaction history.
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If you need to reference the reason for the void. Clicking on the eye next to Void will show the reason for the void.