How to Revoke (Cancel) a Transaction
In the event that a merchant needs to revoke or cancel a transaction, this entry provides a step-by-step instructions on this process. However, please keep these settlement cut-off times in mind:
- • For Regular Transactions, the cut-off time is 4:00 PM CST/5:00 PM EST.
- • Meanwhile, the cut-off time for Same-Day Transactions is 11:00 AM CST/12:00 PM EST.
- For a Same-Day debit transaction, a customer (receiver) will see the debit by 6 PM ET on the same day of submission. As for a Same-Day credit, a receiver will see it arrive in their bank account as a pending credit by 6 PM ET.
- • Lastly, for Late File Transactions submitted after 4 PM CST/5 PM EST, the cut-off time is 9:00 PM CST/10:00 PM EST.
- If you have Late File ability, it will be specified in the Exhibit B. Also, Same-Day ability does not expedite settlements. However, for a Same-Day debit transaction, a customer (receiver) will see the debit by 6 PM ET on the same day it was submitted. As for a Same-Day credit, a receiver will see it arrive in their bank account as a pending credit by 6 PM ET.
- 1. First, log-in to your Actum account at https://reports.actumprocessing.com.
2. Next, please find the Order # of the transaction you wish to cancel. Then, move your cursor to the Transaction Search underneath the Utilities menu option. Otherwise, if you have the Order # already, skip to Step 5.
3. You can search by the Customer Name, Account #, ABA # (routing #), E-mail, and Merchant Order #.
4. As soon as the search results appear, find the Order # you want to revoke and copy it.
After copying the Order #, go to Utilities and select the Revoke Transaction option.
5. Paste the Order # in the Order Number box and click the Submit Changes button.
6. As soon as you see a confirmation message, this informs you that a transaction was successfully revoked.