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Refundable: meaning, definitions and examples

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refundable

 

[rɪˈfʌndəbəl ]

Definition

Context #1 | Adjective

booking

Capable of being refunded or returned.

Synonyms

reimbursable, repayable, returnable.

Which Synonym Should You Choose?

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Word Description / Examples
refundable

Used when something, typically money, can be given back to the payer under certain conditions, often after a cancellation or return.

  • The ticket is refundable if you cancel your flight within 24 hours.
  • All items are refundable within 30 days of purchase.
reimbursable

Applied when expenses can be paid back to someone, typically in a formal or business setting where an individual fronts costs that are later returned.

  • Travel expenses for the business trip are reimbursable upon submission of receipts.
  • Medical costs incurred during the project are fully reimbursable.
returnable

Commonly used for goods or items that can be taken back to a store or vendor, often if unsatisfactory.

  • The bottle is returnable for a small deposit.
  • These products are returnable within 14 days with a receipt.
repayable

Used when referring to money that must be paid back, often used in the context of loans.

  • The loan is repayable over a period of five years.
  • This debt is repayable in monthly installments.

Examples of usage

  • The hotel reservation is refundable up to 24 hours before check-in.
  • If you change your mind, the airline tickets are fully refundable.
  • The deposit for the rental car is refundable upon return.
  • I'm glad the concert tickets are refundable in case I can't make it.
  • The conference registration fee is non-refundable, but the hotel booking is refundable.

Interesting Facts

Etymology

  • The term 'refundable' comes from the root word 'refund', which itself combines 're-' (again) and 'fund' (to provide money).
  • The use of 'refund' dates back to the early 15th century, evolving into its current form over time.
  • Adding the suffix '-able' indicates that a process can happen, making 'refundable' a way to say money can be given back.

Consumer Rights

  • Many countries have laws protecting consumers, requiring businesses to offer refunds for faulty products.
  • Highlighting the concept of 'satisfaction guaranteed,' companies often market their products as refundable to build consumer trust.
  • Refund policies can differ widely between retailers, affecting customer experiences and loyalty.

Financial Literacy

  • Understanding refundable items can help consumers manage their budgets more effectively, knowing they can reclaim funds if needed.
  • This concept is also important in services like travel, where refundable tickets often cost more than non-refundable ones due to their flexibility.
  • Being aware of terms like 'partially refundable' helps individuals understand the limits of getting money back after a purchase.

Business Practices

  • Offering refundable product options is a common strategy for businesses to reduce purchase hesitation among customers.
  • E-commerce businesses often implement rigorous refund processes to enhance customer satisfaction and retention.
  • The introduction of digital receipts has streamlined the refund process, making it easier for customers to claim their money back.

Cultural Perspectives

  • In some cultures, the expectation of refunds reflects a broader view of trust and fairness in consumer transactions.
  • The concept of money back guarantees is especially prevalent in retail cultures focused on customer service and satisfaction.
  • Different regions have varying norms around what constitutes a fair refundable policy, influenced by local business practices.

Translations

Translations of the word "refundable" in other languages:

🇵🇹 reembolsável

🇮🇳 वापसी योग्य

🇩🇪 erstattungsfähig

🇮🇩 dapat dikembalikan

🇺🇦 підлягає поверненню

🇵🇱 zwrotny

🇯🇵 払い戻し可能

🇫🇷 remboursable

🇪🇸 reembolsable

🇹🇷 iade edilebilir

🇰🇷 환불 가능한

🇸🇦 قابل للاسترداد

🇨🇿 vratný

🇸🇰 vratný

🇨🇳 可退款

🇸🇮 povraten

🇮🇸 endurgreiðanlegt

🇰🇿 қайтарылуға жататын

🇬🇪 დაბრუნებადი

🇦🇿 geri qaytarılan

🇲🇽 reembolsable

Word Frequency Rank

Positioned at #21,187, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.