Meaning of the word rebate in English

What does rebate mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

rebate

US /ˈriː.beɪt/
UK /ˈriː.beɪt/
"rebate" picture

Noun

a partial refund to someone who has paid too much money for something

Example:
The company offered a $50 rebate on the new printer.
Customers can claim a rebate by mailing in the form.

Verb

to pay back a part of an amount that has been paid

Example:
The government decided to rebate a portion of the taxes to citizens.
The store will rebate the difference if you find a lower price elsewhere.