What is Void Transactions? Definition and Meaning- Ikajo Glossary


Void Transactions

Void Transactions is a kind of transfer when a purchase that was canceled after it has been approved but before the purchase was made. This type of agreement will not be seen in the statement of the account, nevertheless, it sometimes can occur in the pending record. The client has the possibility to confirm it with the help of the Internet after entering the account. These actions will disappear within twenty-four hours.

Voids are fundamental elements of any process which is somehow connected with a card (debit or credit one). Voids are possible for the owner of the card if the transaction wasn’t settled yet. If yes, you need to ask for a money return. In this situation, the series of actions will be more specific.   

Here are a couple of examples of the word collocation “void transactions” that can be useful in order to understand the full meaning and the role of this financial term:

This was just a void transaction so the funds from the Richard’s were not withdrawn.

Jessica failed to renew her wardrobe online because the transaction was voided.

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