{"id":80,"date":"2014-05-16T01:33:01","date_gmt":"2014-05-16T01:33:01","guid":{"rendered":"http:\/\/cashlinqsupport.com\/helpdesk\/?p=80"},"modified":"2014-05-16T01:33:01","modified_gmt":"2014-05-16T01:33:01","slug":"refunding-a-same-day-debitcredit-card-transaction","status":"publish","type":"post","link":"https:\/\/www.cashlinqhelpdesk.com\/?p=80","title":{"rendered":"Refunding a same-day debit\/credit card transaction"},"content":{"rendered":"

For context, let\u2019s review the life-cycle of a transaction:<\/p>\n

As soon as a debit\/credit card transaction is processed\u00a0the\u00a0Issuing Bank for that card will approve or decline the transaction. \u00a0If the transaction is approved the issuing bank will authorize the $ amount of the transaction and\u00a0adjust the cardholder\u2019s \u201cAvailable Balance\u201d for the $ amount of the transaction. \u00a0That evening the Qsuite will\u00a0settle the day\u2019s\u00a0transactions, the issuing bank will receive the settlement debiting\u00a0the donor\u2019s account, and the funds will be sent to your\u00a0bank account.<\/p>\n

When you issue a same-day refund <\/a>the transaction will not have settled yet\u00a0(remember: settlement takes place at the end of the day). \u00a0The Qsuite knows that a same-day refund is not possible, so the transaction is Voided instead. The act of voiding the transaction\u00a0prevents the transaction\u00a0from settling that evening so no funds are transferred.<\/p>\n

If you do issue a same-day refund, you may want\u00a0to let your donor know that the initial authorization will eventually expire and drop from their account. \u00a0The donor needs the authorization to drop off sooner, they may\u00a0contact their bank to let them know the transaction was voided. \u00a0The donor\u2019s bank may be willing to remove the authorization. \u00a0All authorizations have an expiration and will eventually drop off the donor\u2019s account; however, this time frame is determined by the donor\u2019s bank.<\/p>\n

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void a transaction , how do I void a transaction? , how do I void a transaction , reverse , reversal<\/span><\/p>\n

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