When a loan gets authorized and captured through Affirm, it will become an official loan transaction, which means an Affirm fee will be charged for this service. If you want to cancel a loan without getting a fee, keep these steps in mind:
- Loans must be Voided in the authorization stage of the transaction so they won’t be actually captured and registered as an official loan. At this point, you will be able to cancel the loan without any Affirm fee.
- Once a loan is captured, this will count as an “official” or active loan for Affirm and it won’t be possible to cancel or void it at this point. The loan terms can’t be changed or updated after application. If the customer needs a refund, you can refund the loan. However, the Affirm fee will be charged. That’s why we recommend voiding the loan before it actually gets captured.
- Check this article to learn how to void loans that haven’t yet been captured.
If you need further help, contact our Merchant Care team using the Business Resource Hub help widget.