What is the difference between a void and a refund?
A refund applies only to a transaction that has already been settled by the credit card company. The refund transaction will appear on the cardholder’s statement as a credit against the original purchase amount (i.e., two transactions will be shown). A void is classified as a transaction that has been processed but not yet settled by the credit card company; therefore, neither the original purchase transaction, nor the void transaction will appear on the cardholder’s statement. Credit card settlement occurs at 12:01 AM (Eastern Standard Time). Please make sure you take the time zones into consideration when considering doing a void. For example; if you are on the Pacific coast, a transaction that has been processed can be voided up until 9:01 PM (PST). After that time, you would have to issue a return.
