Cancellation charge?

Yes. Most Disney restaurants charge a $10 per person fee if the ADR is not cancelled the day before.
 

I've heard that it is a full 24 hours before. Is that correct?

Meaning if you have a 6:00 PM reservation on Wednesday you have to cancel before 6:00 PM on Tuesday. Cancelling at 9:00 PM on Tuesday could still get you the cancellation fee.

Is this correct?
 
I've heard that it is a full 24 hours before. Is that correct?

Meaning if you have a 6:00 PM reservation on Wednesday you have to cancel before 6:00 PM on Tuesday. Cancelling at 9:00 PM on Tuesday could still get you the cancellation fee.

Is this correct?

From the Restaurant FAQs on the Disney website:
Q.
How can I cancel my dining reservation, and how much notice do I need to give when I make a cancellation?
A.
You can cancel your dining reservation online or by calling (407) WDW-DINE or (407) 939-3463 up to 11:59 PM Eastern Time on the day before your arrival. Guests under 18 years of age must have parent or guardian permission to call.

Some restaurants may charge a fee for cancellations or no shows. Each restaurant at Walt Disney World Resort maintains its own cancellation policy, so be sure to check the policy when you are making your reservation.

For more information, please refer to the cancellation policy provided in your email confirmation.
 
From the Restaurant FAQs on the Disney website:
Q.
How can I cancel my dining reservation, and how much notice do I need to give when I make a cancellation?
A.
You can cancel your dining reservation online or by calling (407) WDW-DINE or (407) 939-3463 up to 11:59 PM Eastern Time on the day before your arrival. Guests under 18 years of age must have parent or guardian permission to call.

Some restaurants may charge a fee for cancellations or no shows. Each restaurant at Walt Disney World Resort maintains its own cancellation policy, so be sure to check the policy when you are making your reservation.

For more information, please refer to the cancellation policy provided in your email confirmation.

I know for a fact it's 24 hours and not up to midnight the day before because we tried to cancel before midnight and were charged anyway. Is this new? We were there in November
 
I know for a fact it's 24 hours and not up to midnight the day before because we tried to cancel before midnight and were charged anyway. Is this new? We were there in November

It could depend on what you were trying to cancel because some have a different cancellation policy. However, this has been posted on the Disney site for a while, so you might have gotten a CM that was misinformed or a restaurant that made an error.
 




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