Not every pound that leaves you is a refund you gave. Sometimes eBay takes it back to settle a buyer's claim, and you never refunded anyone.
What gets the claim badge
A small badge reading claim instead of refund appears when eBay recouped money from you — a payment dispute lost at the card issuer, or eBay paying the buyer out of its own pocket and taking it from your balance.
In the order drawer it reads "Buyer's claim · eBay took back £24.99 on 14 September", rather than "Refunded".
Why the badge is narrower than you might expect
eBay also ties ordinary refunds to a case — an "item not received" claim that you then refunded yourself, for instance. Technically those are case-linked, but you gave the money back; you were not overruled.
Sellers read "claim" as "chargeback", so Baiord keeps the badge for money that was genuinely taken from you and leaves the word refund on refunds you issued. The case linkage is still used where it belongs — in reconciling against eBay's own Claims figure, where it ties out to the penny.
Dispute holds are not refunds at all
While a dispute is open, eBay holds funds and then releases them. Baiord does not import these as refunds or fees, because they are cash moving in and out of your balance rather than money earned or lost. Importing them double-counted lost claims, which is how the rule came about.
You can see holds and releases on the Finance page, which is where cash movements belong.
A dispute fee
Where eBay charges you a fee for a dispute going against you, that is a real cost and appears as a Dispute fee among your eBay fees.