The short answer
A void cancels a transaction before the batch settles — the customer often never sees the charge and fees are typically not incurred. A refund reverses a settled transaction, takes 3-5 business days to reach the cardholder, and usually leaves the original processing fees with the processor.
Train staff on the timing
The window is until batch close. Staff who default to refunding when a void was available cost real money, especially in high-error environments such as busy restaurants.
Partial refunds
Most platforms support partial refunds. Where you can void the whole transaction and re-run the corrected amount before batch close, that is usually cheaper.
Key takeaways
- Void before batch close whenever possible
- Refunds rarely return the original fees
- Train counter staff on the distinction explicitly
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