Money back is a term used to describe the return of money to a customer or client. A REBATE is a partial REFUND given to a customer after they have purchased a product or service. REPAYMENT is the act of returning money that was previously borrowed or spent. REFUND is the return of money to a customer after they have paid for a product or service. Refunds are the plural form of the word REFUND, and refer to multiple returns of money to a customer.