How to Void Transactions on a Credit Card Machine and How Long It Takes

A void transaction is when you cancel a card payment before it settles. It stops the charge from reaching the customer, but it also avoids having to perform a costlier refund a few days later.

If you are a business using a card machine in the UK, knowing how and when void rather than refund can save you time and money. 

What It Means to Void a Transaction on a Card Machine

A void transaction cancels or reverses an approved card payment before it has been fully finalised. In payment systems that separate authorisation from settlement, this prevents the payment from being settled. Other providers support reversals of eligible transactions through the terminal.

Unlike a refund, which returns money after a payment has been completed, a void stops or reverses the original transaction. However, the customer may still see a pending charge until their bank releases the authorisation hold.

Not every card payment can be voided. The restrictions depend on the provider and terminal:

• Some systems only allow voids before a settlement cut-off, which is not necessarily midnight.
  
• Certain terminals only allow the most recent approved payment or refund to be voided.
  
• Once a payment is no longer eligible for reversal, a refund is usually required.

For example, myPOS terminals offer a Last Transaction Void function. The original transaction and its reversal remain traceable in payment records rather than disappearing completely.

If the customer has only received an unpaid invoice, there is no completed card payment to reverse. You should cancel or amend the invoice instead.

When Should You Void Instead of Refund?

Use a void when a payment error is identified immediately and the transaction is still eligible for cancellation. Common situations include:

• Incorrect amount: A cashier enters £45 instead of £4.50 and notices after the payment is approved.
  
• Duplicate payment: A customer is accidentally charged twice, and the transaction records confirm both payments succeeded.
  
• Customer cancellation: A customer changes their mind immediately after paying, before the voiding window closes.
  
• Checkout errors: Staff notice an incorrect product or price after taking payment and need to process the sale again.

The key distinction is the payment’s processing status, not whether the customer used a debit or credit card. Both types of card payment may be eligible for a void.

For example, a café worker accidentally charges £14.50 for two espressos instead of £4.50. If the transaction is still eligible, they can void the £14.50 payment and charge the correct amount.

The customer may temporarily see both amounts in their banking app, but the voided £14.50 authorisation should eventually disappear without becoming a completed charge. The time this takes depends on their bank.

If the original payment can no longer be voided, staff should process a refund rather than attempting to cancel it through an unavailable terminal function.

How to Void a Transaction on a myPOS Terminal

myPOS terminals support a Last Transaction Void function, but the steps differ between keypad and touchscreen devices.

On myPOS Go 2 and Go Combo:

1. Press F1 on the terminal.
2. Select Last Transaction Void from the menu.
3. Press the green confirmation key to complete the void.

On myPOS Ultra and other touchscreen models:

1. Open the Payment app.
2. Tap the menu in the upper-left corner and select Void Last Transaction.
3. Check the displayed transaction details and tap Confirm.
4. Once approved, select Receipt to print confirmation for the customer or your records.

You can also initiate a refund or void a transaction with the myPOS Glass softPOS app, similar to a standard POS device. This functionality can be permitted or forbidden, and even password-protected for added security.

These instructions are covered in the myPOS support guide.

The main restriction is that only the most recent approved payment or refund can be voided. If another transaction has been processed since the incorrect payment, the Last Transaction Void function cannot retrieve the earlier one.

If the void option is unavailable, check your terminal’s transaction settings. Void permissions can be disabled or password-protected through your myPOS account.

Impact on Cardholder and Merchant Statements

A successful void normally prevents the payment from appearing as a completed charge on the customer’s bank statement. However, the original amount may remain visible as a pending transaction in their banking app until the card issuer releases the authorisation hold. This can take several business days.

A refund works differently: the original completed payment and the subsequent credit generally appear as separate entries.

For merchants, voiding does not erase the transaction history. The original payment and its reversal remain identifiable in the payment records. Keeping the void receipt and recording the correction in your till or accounting system helps explain the difference between attempted sales and actual revenue during reconciliation.

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How Long Does a Void Take in the UK?

A void is usually confirmed on the card terminal immediately, but it can take up to seven days for the pending charge to disappear from the customer's banking app. The exact time depends on the card issuer and how quickly it processes the reversal.

When a void is approved, the payment provider can send an authorisation reversal requesting that the bank release the reserved funds. According to Visa Acceptance, this can speed up the release compared with waiting for an authorisation hold to expire naturally.

For UK cardholders, the timing generally works as follows:

• Terminal confirmation: Usually immediate once the void is approved.
  
• Pending charge removal: Often within a few business days, although it can take up to seven.
  
• Unclaimed authorisation holds: Typically expire within five to seven days, depending on the bank.
  
• Extended pre-authorisations: Hotels, car rentals and fuel stations can have longer hold periods, sometimes reaching 30 days.

These are typical timeframes rather than guaranteed deadlines. If a voided transaction remains pending after seven days, advise the customer to contact their card issuer with the void receipt or transaction reference.

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Same-Day vs. Settled Transactions

Whether a payment can be voided depends on its processing status and the terminal provider's rules, not simply how many hours have passed.

Unlike conventional providers that may pay merchants after one or more business days, myPOS makes accepted card payments available in the merchant's account within seconds. However, immediate access to funds does not automatically determine whether a terminal void remains available.

The safest approach is to check the transaction's eligibility before choosing between a void and a refund. If the terminal does not confirm the reversal, verify the payment status before attempting another cancellation or charging the customer again.

Making Sure Staff Know the Correct Void Process

Staff should know how to void a card transaction before they need to correct a payment error during a busy shift. The most effective approach is hands-on POS training, using the same terminal model they operate at the till.

Include these checks in your staff procedures:

• Practise the void process: Use an approved training mode or supervised demonstration to teach staff where to find the function and how to confirm a reversal.
  
• Act before the next payment: On myPOS terminals, the Last Transaction Void function only applies to the most recent approved payment or refund. Staff should correct mistakes immediately rather than waiting until the end of the day.
  
• Verify successful cancellation: Check the terminal's approval message and transaction record. Keep or send the void receipt where available.
  
• Record and reconcile voids: Note the original payment reference, amount and reason for cancellation. Check these against the payment records during daily till reconciliation.

Staff should also understand the difference between a successful void, a declined payment and a refund. If the terminal does not confirm the void, they should check the transaction status before attempting another payment or reversal.

Security, PCI Compliance, and Audit Trails

Voided transactions should remain traceable in your business records, even though the customer is not ultimately charged.

For each void, retain the transaction date and time, amount, terminal or staff identifier, reason for cancellation and a reference linking the reversal to the original payment. Where available, keep the corresponding receipts or electronic transaction records.

Access to void and refund functions should be restricted to authorised staff, with additional approval for unusual or repeated cancellations. This helps businesses identify errors, investigate discrepancies and reduce the risk of unauthorised reversals.

There are also separate requirements for security logging and financial record retention:

• PCI DSS audit logs: Under PCI DSS v4.0.1 Requirement 10.5.1, applicable security audit logs must be retained for at least 12 months, with the most recent three months immediately available for analysis. This requirement concerns security events involving in-scope systems and cardholder data; it does not automatically mean every void receipt is a PCI security audit log.
  
• HMRC business records: According to GOV.UK, self-employed businesses generally need to keep relevant tax records for at least five years after the 31 January Self Assessment submission deadline. VAT-registered businesses must generally retain VAT records for six years, subject to specific exceptions.

Businesses should therefore retain void records for the period applicable to their accounting, tax and payment-processing obligations. Store transaction references securely without unnecessarily retaining full card numbers or other sensitive payment data.

Cost Implications for Businesses

Voiding an incorrect card payment can reduce processing costs, particularly when the alternative is refunding a completed transaction. However, the amount saved depends on your payment provider's fee structure.

For example, myPOS pricing starts at 1.10% + £0.07 for in-person payments made with domestic consumer cards, for businesses processing under £10,000 per month.

Consider an incorrect £100 card payment:

• Successful void: May avoid the £1.17 processing cost, depending on how the transaction and fees are reversed.
  
• Full refund: The original £1.17 processing fee may remain payable, even though the customer receives their £100 back.
  
• Chargeback: If the customer disputes an unresolved charge, the business may face an additional dispute fee and the cost of handling the claim.

These figures illustrate the potential difference rather than guaranteeing the fees for every transaction. Businesses should check their applicable myPOS tariff for void, refund and chargeback charges.

Chargebacks are especially worth avoiding. Besides potential fees, a high volume of disputes can trigger additional scrutiny, increased account restrictions or changes to processing terms.

The practical saving comes from correcting payment errors before they become completed transactions or customer disputes. Staff should therefore confirm a successful void promptly and provide the customer with evidence of the reversal.

Why myPOS Makes Voiding Transactions Simple and Secure

myPOS makes funds from approved card payments available in your business account within seconds. However, instant access to funds does not prevent you from using the terminal's Last Transaction Void function.

The key restriction is that only the most recent approved payment or refund can be voided. Staff can reverse an eligible transaction directly on the device, without submitting a separate refund request.

myPOS also provides transaction records and confirmation receipts to help merchants track reversals and reconcile their sales. Void and refund permissions can be restricted through terminal settings, helping prevent unauthorised cancellations.

For businesses purchasing their terminals outright, myPOS offers pay-as-you-go pricing with no monthly account service fee. In-person transaction fees start at 1.10% + £0.07 for domestic consumer cards, for merchants processing under £10,000 per month. Other transaction rates and service charges may apply, while optional terminal rental plans carry monthly fees.

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