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TeachMeFinance.com - explain Refund Refund -- 1. To repay or restore. To return money in restitution or repayment. To return overpaid charges 2. That which is refunded. The amount returned. 3. To fund again or renew; specifically to borrow in order to pay off an existing loan with the proceeds. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.