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English definition of “refund”

refund

verb [T]     /ˌriːˈfʌnd/
COMMERCE to give someone back an amount of money, especially because they have paid too much or are not happy with a product or service: The court ordered the company to refund current customers.refund money/cash If someone buys you a present you don't like, the store is within its rights not to refund the money. The customer will be refunded in full up to $50,000. If you see any branded item you have purchased at a cheaper price elsewhere within 60 days, we will refund the difference.
(Definition of refund verb from the Cambridge Business English Dictionary © Cambridge University Press)
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