Refund: meaning, definitions and examples

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refund

[rɪˈfʌnd ]

Definitions

^{Context #1 | Verb}

financial

To give money back to someone who is not satisfied with a product or service they have paid for.

Synonyms

reimburse, repay, return.

Which Synonym Should You Choose?

Word	Description / Examples
refund	When you want your money back after returning a product or service that did not satisfy you. They promised to give me a full refund if I was not happy with the product I asked for a refund because the shoes didn't fit properly
reimburse	When someone covers your expenses, typically in a more formal or business-related situation. The company will reimburse you for travel expenses I need to get reimbursed for the supplies I bought for the project
repay	When you pay back money that you borrowed or owe to another person. I need to repay my friend the $50 I borrowed He promised to repay the loan next month
return	When you physically give back an item you purchased or received, possibly leading to a refund. I need to return this shirt because it's the wrong size The store allows you to return items within 30 days

Examples of usage

The store agreed to refund the money after the customer complained about the faulty product.
If you're not happy with your purchase, you can request a refund within 30 days.
She demanded a refund when she discovered the item was damaged.

^{Context #2 | Noun}

financial

An amount of money that is given back to someone who is not satisfied with a product or service they have paid for.

Synonyms

reimbursement, repayment, return.

Which Synonym Should You Choose?

Word	Description / Examples
refund	This is usually used when a customer returns a purchased item to a store or cancels a service, and gets their money back. It is common in retail and service industries. I returned the faulty toaster and got a full refund from the store. If you're not completely satisfied with the subscription, you can request a refund within 30 days.
reimbursement	This term is typically used when someone has expended their own money for business or personal reasons and is getting paid back. It is often used in professional or medical contexts. The company will provide a reimbursement for travel expenses incurred during the business trip. Patients can apply for a reimbursement of their medical costs through the insurance provider.
repayment	This word is commonly used in financial contexts where someone is returning borrowed money, such as loans or debts. It has a formal tone. They set up a monthly repayment plan to pay off the loan. The repayment of the debt was completed ahead of schedule.
return	In this context, 'return' is used when a product or item is given back to where it was purchased from, without necessarily implying a financial transaction. It is often used in everyday scenarios. I need to return the book I borrowed from the library. She decided to return the dress because it didn't fit.

Examples of usage

The company issued a refund for the defective product.
He received a full refund for the cancelled flight.
They processed the refund quickly and efficiently.

Interesting Facts

Etymology

The word comes from the prefix 're-' meaning 'again' and 'fund', which originates from the Latin 'fundus' meaning 'bottom' or 'ground', referring to supply.
In its earliest form from the late 14th century, related terms were used in contexts implying the return of a 'supply' or resource.

Consumer Rights

Consumer protection laws in many countries guarantee the right to a refund under specific conditions, like defective products or unsatisfactory service.
Different stores have varying refund policies; some offer store credit instead of a full cash return.

Business Practices

Offering refunds can enhance customer satisfaction and loyalty; businesses often gain repeat customers through good refund practices.
Some companies, particularly in e-commerce, promote 'no questions asked' refund policies to simplify customer returns.

Psychology

The process of refunds can invoke feelings of relief and trust in consumers, reinforcing their confidence in a company's brand.
Studies show that customers who know they can easily get a refund feel more comfortable making purchases, increasing overall sales.

Technology

The rise of online shopping has led to more streamlined refund processes through technology, including automated approvals and instant payment reversals.
With advancements in e-commerce platforms, the refund request process is often designed to be user-friendly, boosting customer convenience.

Translations

Translations of the word "refund" in other languages:

🇵🇹 reembolso

🇮🇳 वापसी

🇩🇪 Rückerstattung

🇮🇩 pengembalian dana

🇺🇦 відшкодування

🇵🇱 zwrot

🇯🇵 払い戻し (はらいもどし)

🇫🇷 remboursement

🇪🇸 reembolso

🇹🇷 iade

🇰🇷 환불 (hwanbul)

🇸🇦 استرداد

🇨🇿 vrácení peněz

🇸🇰 vrátenie peňazí

🇨🇳 退款 (tuìkuǎn)

🇸🇮 vračilo

🇮🇸 endurgreiðsla

🇰🇿 қайтару

🇬🇪 ანაზღაურება (anazghraureba)

🇦🇿 geri ödəmə

🇲🇽 reembolso

Word Frequency Rank

At #6,447 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.

...
6444 noun
6445 prescription
6446 supplemented
6447 refund
6448 passions
6449 duplicate
6450 rim
...