For a payment voided before 8 pm Eastern the same day, the processing fees will also be voided.
A payment voided after 8 pm Eastern is considered a Refunded Payment and the processing fees will need to be covered by either the organization or the payer. Transaction fees are non-refundable. Therefore, you will incur any portion of the transaction fee that is refunded. If your account is set up to absorb transaction fees, the fee will display on your monthly statement each billing cycle.
You can refund a credit card transaction the next business day. For ACH payments, you can refund them after the ACH payment clears the banks (timeline can vary). When you attempt to refund an ACH payment, the dashboard will display the date that you're allowed initiate the refund, in case you try too early.
You will be able to make full and partial refunds. There are no additional fees for refunding a payment. Refunds can be submitted on payments up to 6 months after the original transaction date.
HOW TO REVERSE A PAYMENT
1. Visit your dashboard (sign in)
2. In the Transaction menu click the transaction ID to visit the details page
3. Use the ‘Void Payment’ or ‘Refund Payment’ button to perform the desired action. Credit card refunds post to your payers account within one business day, and ACH Refunds take 7-10 business days to post to the payers account.
4. Read the Warning, select the amount, and confirm
Be aware that transaction fees are non-refundable. If you choose to refund the full amount, your organization will be covering the transaction fee.
Hitting “Confirm” will initiate the process. All parties will then receive an e-receipt.