For most transactions, once the record is deleted from the initiative, a reversal or refund is automatically triggered to the donor's bank account.  Each bank or branch processes these updates in a different time frame.  The refund typically ranges from 1 business day to 10 business days to post, but may not post until the next statement.

The only exceptions to these are:
transactions in excess of $10,000
Sponsorships
Booth Registrations

These can take up to 7 business to days to process before the reversal is issued by Blackbaud to the transaction owner's bank.