‘兑付’ (duì fù) is a formal financial verb meaning ‘to pay out’ or ‘to honor a payment obligation’—typically used when an institution fulfills its commitment to disburse money, such as redeeming bonds, settling insurance claims, or cashing checks or vouchers. The character 兑 (duì) originally meant ‘exchange’ or ‘convert’, and 付 (fù) means ‘to pay’ or ‘to deliver’. Together, they convey the idea of converting a claim or instrument into actual cash or value.

This term appears almost exclusively in official, legal, or financial contexts—not in everyday conversation. You’ll see it in banking notices, insurance policies, government announcements about bond maturities, or financial news reporting on debt repayment. It carries a sense of formality, obligation, and institutional responsibility, and is rarely used for casual personal payments like handing cash to a friend.