1. the act of returning money that was paid for something
2. the process of replacing an existing debt with a new loan, typically at better terms
Usage: finance

1. present participle of refund: returning money that was paid

Examples

• The store is refunding customers who bought the defective product.
• She requested a refunding of her tuition fees after withdrawing from the course.
• The company announced the refunding of all ticket purchases for the canceled event.
• The government is refunding its debt to take advantage of lower interest rates.
• They are refunding the bond issue with a new loan at a better rate.
• The refunding process will take 5-7 business days to complete.
• Airlines are refunding passengers for flights canceled due to the storm.