Voiding Credit Card Transactions
Voiding Transactions

Voiding Transactions

 

 

Should you VOID or REFUND a transaction?

 

First off a Void and Refund are actually two different functions and knowing the difference may save you some money !

The general rule is that you want to void the transaction since voiding stops the transaction from fully processing.  If you process a refund you will pay the full discount fees (percentage) since you are performing the whole transaction. Whenever the funds pass through the processing networks the discount rate will be charged. You will be charged the discount rate when you are paid then again when you pay someone a refund so a void will always save you the discount fees.

There are a few rules to determine if you can issue a void or refund. First of all to issue a void the transaction must NOT have batched out for the day. Once the batch settles a void is not possible and you will have to issue a refund.

 

To issue a Void or Refund in Fast Charge do the following:

  • Log in to your account
  • Click on Order Manager
  • Find the Order (You can also do a transaction search)
  • Click on the Order ID Number
  • You will see a menu open that looks like the one below

 

Once this menu opens up you can do anything you need to do with the transaction including the following:

  • Capture Voice Authorizations
  • Capture Pre-Authorizations
  • Issue New Sale
  • Issue Void
  • Issue Refund/Credit

 

 issuing refund

 

 

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