Meaning of the word refunds in English

What does refunds mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

refunds

US /ˈriːfʌndz/
UK /ˈriːfʌndz/

Plural Noun

sums of money paid back to a customer, especially when they return goods or services

Example:
The store offers full refunds for defective products.
Many customers requested refunds after the concert was cancelled.