A void is the cancellation of a transaction after it has been authorized but before it has been settled. Because the funds have not yet actually moved between banks, a void simply cancels the approved transaction as if it never happened. The pending charge will disappear from the customer’s statement within a few days, and there is no transfer of funds to reverse.

Frequently Asked questions (FAQs)

  • What is the difference between a void and a refund?
    A void cancels a transaction before settlement, while a refund reverses a transaction after it has already been settled. You can only void a transaction on the same day it was made, before your daily batch has been processed.
  • Is it better to void a transaction or refund it?
    If you have the option, voiding is better. It’s faster for the customer (the charge just disappears), and since the transaction never fully processed, you are not charged the transaction fees.
  • How do I void a transaction?
    This function is typically available in your payment terminal or dashboard for transactions that occurred within the current business day. You can find this option in your Stripe Dashboard.

Related terms: