What's the difference between refund and repayment?
Refund
Definition:
(v. t.) To fund again or anew; to replace (a fund or loan) by a new fund; as, to refund a railroad loan.
(v. t.) To pour back.
(v. t.) To give back; to repay; to restore.
(v. t.) To supply again with funds; to reimburse.
Example Sentences:
(1) However, some contactless transactions are processed offline so may not appear on a customer’s account until after the block has been applied.” It says payments that had been made offline on the day of cancellation may be applied to accounts and would be refunded when the customer identified them; payments made on days after the cancellation will not be taken from an account.
(2) The train operator advised passengers to use alternative routes with South West Trains and Chiltern Trains and has offered refunds to travellers who decide not to travel on Saturday.
(3) However, according to the the Professional Financial Claims Association (PFCA), only about half of the sums paid out represent refunded payments.
(4) Oliver's departure followed the exit of Kenneth Tong last Thursday, which forced Channel 4 to abandon the planned eviction vote on Friday and offer a refund to viewers who had already voted.
(5) When she appealed, East Coast apologised but incredibly refused a refund, until Money intervened.
(6) Passengers who have paid but choose not to travel due to this service disruption can receive a refund or a voucher for future travel,” the operator said.
(7) He said the fact so many people had not approached their bank showed how important it was that they should be forced to automatically refund their customers if they lost the case.
(8) "Energy suppliers benefiting from credits on customer accounts and failing to respond to requests to refund them was turning into a bone of contention.
(9) A spokesman for the SLC says: “We apologise to Miss Rodrigues for any inconvenience she encountered in arranging a refund of her overpaid balance and for any incorrect information she was given regarding interest.
(10) Some people will receive the refund in the form of a reduction in what they owe.
(11) Don't ignore the letter; your bank has written to you because it believes it may have mis-sold you PPI and this is your chance to respond and get a refund of your premiums.
(12) The full effect on sales has yet to be seen as the airline offered full refunds to passengers who had booked to fly later in the year after the shooting down of MH17.
(13) People who have already bought a case are entitled to a free cash refund.
(14) Then, earlier this month, a tentative legal settlement was reached that required Frey and his American publisher, Doubleday, to provide refunds to readers who felt they were defrauded in buying a book classified as memoir.
(15) I’m sorry to hear that happened, but that person will have a one person connection to go to to explain that’s happened to sort out.” In a later statement, a council spokesman said: “We are very sorry if this has happened and we are working to find out who has been affected so we can offer reassurance and an immediate refund.
(16) In practice most train companies will issue a refund when train services are delayed, irrespective of what caused the delay.
(17) Non-medical psychotherapists are not eligible for refunds by the health insurance system.
(18) A spokeswoman for NatWest confirmed it will not refund Wilson as she had "willingly handed over the money".
(19) However, this is BT we are dealing with, and even after we raised this with the company’s HQ, it was still rather hard work getting a proper refund.
(20) Despite the fact that the weight recorded on the seller's proof of posting showed that the parcel had been filled, and that the buyer refused to cooperate with Royal Mail's investigation, eBay found in the buyer's favour and refunded him.
Repayment
Definition:
(n.) The act of repaying; reimbursement.
(n.) The money or other thing repaid.
Example Sentences:
(1) Childcare carves out a hefty third of household income for one in three families, overshadowing mortgage repayments as the biggest family expenditure .
(2) It acts as a one-stop shop bringing together credit unions and other organisations, such as Five Lamps , a charity providing loans, and white-goods providers willing to sell products with low-interest repayments.
(3) Several months ago, the man received about $200,000 worth of marijuana from the cartel and delivered it to another dealer, but he could not repay the cartel, according to court papers.
(4) Then Greece has another chance.” But the intervention by the IMF will undermine EU leaders who argue Greece must submit to a fresh round of austerity measures to release funds for debt repayments.
(5) Dubai World's ability to repay the bond had been seen as a key test of the state's financial health.
(6) Taking the evidence to the high court in London two years later, Grant Thornton were able to secure a summary judgment against Viren Rastogi, ordering him to repay $360m.
(7) Nonetheless, Blatter was investigated by Swiss police over his attempts in secret to repay more than £1m worth of bribes pocketed by football officials.
(8) He was also was ordered to repay more than £37,000 under the 2002 Proceeds of Crime Act or face 15 further months in jail.
(9) Of course, saying this even while petitioning for easier repayment on Greece's mountain of debt is just another example of austerity's topsy-turvyism.
(10) It has proposed linking repayment of the debt to growth (the only real way of paying creditors and of guaranteeing their rights), and has indicated its desire to implement those structural reforms needed to strengthen an impoverished state left too long in the hands of corrupt elites.
(11) Other proposals include a requirement for PPI providers to give consumers a personal quote, clearly setting out the cost of the policy, both on its own and when added to the repayments.
(12) You may be able to put some of your mortgage on a repayment basis and some on an interest-only basis.
(13) I've got to pay £15 a week [as part of a repayment plan].
(14) If that is guaranteed, I am in favour of a delay in the repayment," he said, adding that the delay could be two or three years.
(15) Action will be needed, too, to mitigate the scale of loan repayment.
(16) Last Monday, INM negotiated a standstill agreement with its bondholders which gave the company another six weeks to repay a €200m debt.
(17) Conversely, having no credit history can be just as troublesome as having a poor rating: without a history of spending and repayments, a bank may be less willing to loan you money.
(18) Hours after Greece’s bailout programme with its creditors expired and the country became the first in the developed world to miss an IMF loan repayment, Greek pensioners without debit cards were at last able to withdraw some cash.
(19) However, if you knew how you planned to pay off £70,000, and wanted to run £30,000 on a repayment basis, moving from 4.3% to 2.89% would cut the cost from £665 to £563 a month.
(20) Greece missed a payment to the International Monetary Fund last week and the clock will tick down to 20 July when Greece must repay €3.5bn to the ECB – the final deadline, according to Bank of America Merrill Lynch.