What is the difference between a void and a refund?

You can return funds to a client using voids or refunds. This article gives an overview of both options.

Voids

A void cancels the entire payment before it is debited from the client's card or bank account. Clients may see the payment as "pending" on their banking app for a short time, but it does not actually charge their card nor debit their account.

Voids are only available for a limited time, after which the payment can no longer be voided; it must be refunded. Firms are not assessed any processing fees related to transactions that are voided.

Payments cannot be partially voided; they must be voided in full.

Refunds

A refund returns the funds after they have already been debited from the client. While there are no additional processing fees for a refund, processing fees will be assessed for the original payment.

Refunds for credit & debit card payments

Clients should see their refund on their credit or debit card in 2 - 4 business days.

These payments are eligible for partial or full refunds.

When refunding payments that originally included a surcharge fee, you must also refund the fee . For partial refunds , the refund for the surcharge fee must be prorated.

Refunds from Trust will be debited from your operating bank account by default.

Refunds for Same-Day Bank Transfers (ACH payments)

Clients should see their refund in their bank account in 3-4 business days.

These payments are eligible for partial or full refunds.

Refunds from Trust will be debited directly from your trust bank account.

Refunds for regular bank transfers (ACH payments)

Clients should see their refund in their bank account in 3 - 4 business days.

These payments must be refunded in full; they are not eligible for partial refunds.

Refunds from Trust will be debited directly from your trust bank account.