rediscount Syllabification: (re·dis·count)Pronunciation: /rēˈdisˌkount/ FinanceDefinition of rediscount verb [with object] (of a central bank) discount (a bill of exchange or similar instrument) that has already been discounted by a commercial bank. noun the action of rediscounting something. rediscount in other Oxford dictionaries Definition of rediscount in the British & World English dictionary