exchange / return
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return / exchange
Returning a purchased item to a store in order to receive a different item, a voucher, or the money back.
Ein Umtausch der reduzierten Ware ist leider ausgeschlossen.
Unfortunately, returns or exchanges of reduced-price goods are excluded.
'Der Umtausch' (the exchange/return) is the noun related to the separable verb 'umtauschen' (to exchange/return). If you know the verb, you can easily infer the meaning of the noun, since it describes the process of exchanging or returning something.
Ich möchte diese Hose umtauschen, weil sie mir nicht passt.
I would like to exchange these pants because they don't fit me.
In retail, the phrase 'vom Umtausch ausgeschlossen' (excluded from return/exchange) is very common. It means that you cannot return a purchased item, which is often the case especially with reduced-price items.
Auf dem Kassenzettel stand: „Reduzierte Artikel sind vom Umtausch ausgeschlossen.“
The receipt said: 'Reduced-price items are excluded from returns or exchanges.'
When it comes to exchanging money, the structure 'der Umtausch von [currency A] in [currency B]' (the exchange of [currency A] into [currency B]) is used. Pay attention to the prepositions 'von' (from/of) and 'in' (into).
Der Umtausch von Schweizer Franken in Euro ist am Flughafen möglich.
The exchange of Swiss francs into euros is possible at the airport.
change / switch
'der Wechsel' and 'der Umtausch' can both mean that something is given in exchange for something else. With money, 'Wechsel' is especially suitable for exchanging one currency for another. 'Umtausch' can mean that too, but in everyday life it is very typical when shopping: you return a purchased item and receive another item, money, or a voucher. The words can be confusing because both have to do with 'something for something else'. With currencies, both are possible; with clothing or goods, 'Umtausch' is the natural word.
Hannah hat den Umtausch der Jacke erledigt, weil sie eine Nummer zu klein war.
Hannah took care of exchanging the jacket because it was one size too small.
Am Flughafen war der Wechsel von Euro in Dollar ziemlich teuer.
At the airport, exchanging euros into dollars was quite expensive.