Reimbursement: meaning, definitions and examples

Used when someone is paid back for expenses they have already paid. It is commonly used in business and workplace settings.

• After the business trip, she submitted her receipts for reimbursement.
• The company offers reimbursement for travel expenses.

Applies in scenarios where someone is being paid for their work, services, or to make up for loss or injury. It has a broader usage and can include salaries, wages, or settlements.

• He received compensation for the overtime hours he worked.
• Victims of the accident were given financial compensation.

Used when paying back money that was borrowed, such as loans or debts. Commonly seen in financial and banking contexts.

• The repayment of the loan is due next month.
• He made regular repayments on his mortgage.

Refers to returning money to a customer who is not satisfied with a product or service. Typically used in retail and service industries.

• If you return the product within 30 days, you can get a full refund.
• She asked for a refund because the dress didn’t fit properly.