refund
Loading your saved state.
refund
The return of money that was previously paid for a product, a service, or because of an overpayment.
Nach der Stornierung des Fluges habe ich eine vollständige Rückerstattung des Ticketpreises erhalten.
After the flight was canceled, I received a full refund of the ticket price.
The word consists of 'rück-' (back) and 'Erstattung' (from 'erstatten', to reimburse/refund). It literally means that something, usually money, is 'zurück-erstattet' (reimbursed/refunded back) to its original owner.
Für das defekte Gerät forderte der Kunde eine Rückerstattung.
The customer requested a refund for the defective device.
'Rückerstattung' (refund) is often combined with certain verbs. You can 'beantragen' (apply for/request), 'fordern' (demand), 'erhalten' (receive), or 'bekommen' (get) a refund. A company can 'gewähren' (grant) or 'ablehnen' (reject) a refund.
Sie müssen die Rückerstattung schriftlich beantragen.
You must request the refund in writing.
To say what you are getting the money back for, you often use the preposition 'von' (of/from) followed by the dative, or the genitive. Both are correct; the genitive is somewhat more formal.
Ich erwarte die Rückerstattung von den Reisekosten.
I expect the refund of the travel costs.
compensation
'Entschädigung' and 'Rückerstattung' can both mean that someone receives money. The difference is the reason for the payment. A 'Rückerstattung' is money you get back because you paid it before, for example for a ticket or because of an overpayment. An 'Entschädigung', on the other hand, is something you receive as compensation for damage, a disadvantage, or an injustice. The words can be confused when money is paid after a problem. In practical terms: if you get your own paid money back, it is a 'Rückerstattung'. If you receive additional money because of damage, it is an 'Entschädigung'.
Nach der abgesagten Veranstaltung bekam Tom die Rückerstattung für seine Eintrittskarte.
After the event was canceled, Tom received a refund for his ticket.
Wegen des kaputten Gepäcks fordert sie eine Entschädigung von der Fluggesellschaft.
Because of the damaged luggage, she is demanding compensation from the airline.