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Refund vs. Exchange: What's the Difference?

Refund and Exchange Definitions

Refund

To give back, especially money; return or repay
Refunded the purchase price.

Exchange

To give in return for something received; trade
Exchange dollars for francs.
Exchanging labor for room and board.

Refund

To make repayment.

Exchange

To give and receive reciprocally; interchange
Exchange gifts.
Exchange ideas.

Refund

A repayment of funds.
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Exchange

To give up for a substitute
Exchange a position in the private sector for a post in government.

Refund

An amount repaid.

Exchange

To turn in for replacement
Exchange defective merchandise at a store.

Refund

(transitive) To return (money) to (someone); to reimburse.
If you find this computer for sale anywhere at a lower price, we’ll refund you the difference.

Exchange

To give something in return for something received; make an exchange.
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Refund

To supply (someone) again with funds.
To refund a railroad loan

Exchange

To be received in exchange
At that time the British pound exchanged for $2.80.

Refund

To pour back (something).

Exchange

The act or an instance of exchanging
A prisoner exchange.
An exchange of greetings.

Refund

An amount of money returned.
If the camera is faulty, you can return it to the store where you bought it for a full refund.

Exchange

One that is exchanged.

Refund

To fund again or anew; to replace (a fund or loan) by a new fund; as, to refund a railroad loan.

Exchange

A place or network for exchanging things, especially a center where securities or commodities are bought and sold.

Refund

To pour back.
Were the humors of the eye tinctured with any color, they would refund that color upon the object.

Exchange

A telephone exchange.

Refund

To give back; to repay; to restore.
A governor, that had pillaged the people, was . . . sentenced to refund what he had wrongfully taken.

Exchange

A system of payments using instruments, such as negotiable drafts, instead of money.

Refund

To supply again with funds; to reimburse.

Exchange

The fee or percentage charged for participating in such a system of payment.

Refund

Money returned to a payer

Exchange

A bill of exchange.

Refund

The act of returning money received previously

Exchange

A rate of exchange.

Refund

Pay back;
Please refund me my money

Exchange

The amount of difference in the actual value of two or more currencies or between values of the same currency at two or more places.

Exchange

A dialogue
A heated exchange between the two in-laws.

Exchange

Of or relating to a reciprocal arrangement between a local and a foreign institution or group
An exchange student.
Exchange programs for students learning foreign languages.

Exchange

An act of exchanging or trading.
All in all, it was an even exchange.
An exchange of cattle for grain
I'll help you out this time, depending on what can you give me in exchange.

Exchange

A place for conducting trading.
The stock exchange is open for trading.
The old corn exchange has been converted into a music venue.

Exchange

A telephone exchange.

Exchange

The fourth through sixth digits of a ten-digit phone number (the first three before the introduction of area codes).
The 555 exchange is reserved for use by the phone company, which is why it's often used in films.
NPA-NXX-1234 is standard format, where NPA is the area code and NXX is the exchange.

Exchange

A conversation.
After a lengthy exchange with the manager, we were no wiser.

Exchange

(chess) The loss of one piece and associated capture of another.

Exchange

(usually with "the") The loss of a minor piece (typically a bishop or knight) and associated capture of the more advantageous rook.

Exchange

(obsolete) The thing given or received in return; especially, a publication exchanged for another.

Exchange

(biochemistry) The transfer of substances or elements like gas, amino-acids, ions etc. sometimes through a surface like a membrane.

Exchange

(finance) The difference between the values of money in different places.

Exchange

Clipping of exchange of contracts

Exchange

(transitive) To trade or barter.
I'll gladly exchange my place for yours.

Exchange

To mutually direct at each other.
The opposing soldiers exchanged fire across the burning streets.

Exchange

(transitive) To replace with, as a substitute.
I'd like to exchange this shirt for one in a larger size.
Since his arrest, the mob boss has exchanged a mansion for a jail cell.

Exchange

Clipping of exchange contracts

Exchange

(transitive) To recommend and get recommendations.

Exchange

The act of giving or taking one thing in return for another which is regarded as an equivalent; as, an exchange of cattle for grain.

Exchange

The act of substituting one thing in the place of another; as, an exchange of grief for joy, or of a scepter for a sword, and the like; also, the act of giving and receiving reciprocally; as, an exchange of civilities or views.

Exchange

The thing given or received in return; esp., a publication exchanged for another.

Exchange

The process of setting accounts or debts between parties residing at a distance from each other, without the intervention of money, by exchanging orders or drafts, called bills of exchange. These may be drawn in one country and payable in another, in which case they are called foreign bills; or they may be drawn and made payable in the same country, in which case they are called inland bills. The term bill of exchange is often abbreviated into exchange; as, to buy or sell exchange.

Exchange

A mutual grant of equal interests, the one in consideration of the other. Estates exchanged must be equal in quantity, as fee simple for fee simple.

Exchange

The place where the merchants, brokers, and bankers of a city meet at certain hours, to transact business; also, the institution which sets regulations and maintains the physical facilities of such a place; as, the New York Stock Exchange; a commodity exchange. In this sense the word was at one time often contracted to 'change

Exchange

To part with give, or transfer to another in consideration of something received as an equivalent; - usually followed by for before the thing received.
Exchange his sheep for shells, or wool for a sparking pebble or a diamond.

Exchange

To part with for a substitute; to lay aside, quit, or resign (something being received in place of the thing parted with); as, to exchange a palace for cell.
And death for life exchanged foolishly.
To shift his beingIs to exchange one misery with another.

Exchange

To give and receive reciprocally, as things of the same kind; to barter; to swap; as, to exchange horses with a neighbor; to exchange houses or hats.
Exchange forgiveness with me, noble Hamlet.

Exchange

To be changed or received in exchange for; to pass in exchange; as, dollar exchanges for ten dimes.

Exchange

Chemical process in which one atom or ion or group changes places with another

Exchange

A mutual expression of views (especially an unpleasant one);
They had a bitter exchange

Exchange

The act of changing one thing for another thing;
Adam was promised immortality in exchange for his disobedience
There was an exchange of prisoners

Exchange

The act of giving something in return for something received;
Deductible losses on sales or exchanges of property are allowable

Exchange

A workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication

Exchange

A workplace for buying and selling; open only to members

Exchange

(sports) an unbroken sequence of several successive strokes;
After a short rally Connors won the point

Exchange

Reciprocal transfer of equivalent sums of money especially the currencies of different countries;
He earns his living from the interchange of currency

Exchange

The act of putting one thing or person in the place of another:
He sent Smith in for Jones but the substitution came too late to help

Exchange

(chess) gaining (or losing) a rook in return for a knight or bishop;
Black lost the exchange

Exchange

(chess) the capture by both players (usually on consecutive moves) of pieces of equal value;
The endgame began after the exchange of queens

Exchange

Give to, and receive from, one another;
Would you change places with me?
We have been exchanging letters for a year

Exchange

Exchange or replace with another, usually of the same kind or category;
Could you convert my dollars into pounds?
He changed his name
Convert centimeters into inches
Convert holdings into shares

Exchange

Change over, change around, or switch over

Exchange

Hand over one and receive another, approximately equivalent;
Exchange prisoners
Exchange employees between branches of the company

Exchange

Exchange a penalty for a less severe one

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