refunded

Refunded is the past participle of refund, meaning money or value has been returned to a payer after a purchase, cancellation, or correction. In consumer and business contexts, a refund refers to reversing a payment or returning the original price to the customer.

In commerce, refunds are typically issued after a customer returns a product, reports a defect, or cancels a service. The refund often follows an approved request and is returned via the original payment method, such as a credit card, bank transfer, or digital wallet. Processing times vary by payment processor and method; card refunds may take several business days, while some digital wallets offer near-immediate credits. Refunds may cover the full purchase price, taxes, and, in some cases, shipping charges.

Policies vary by seller and jurisdiction. Some items are non-refundable or final sale, and certain services or digital goods may have different refund rules. Some merchants offer exchanges instead of refunds, or provide partial refunds for issues that are not fully resolvable. In some contexts, consumers may initiate a chargeback with their bank if a seller does not fulfill a refund, though this process can involve additional verification and fees.

In accounting and finance, a refund reduces revenue and cash or may require a reversal of previously recognized income, depending on timing and the accounting standards in use. Understanding a merchant’s refund policy helps set expectations for both buyers and sellers.