redeemable
1. [ adjective ] able to be converted into ready money
Synonyms: cashable
Examples:

"a cashable check" "cashable gambling chips" "redeemable stocks and bonds"

Related terms: convertible
2. [ adjective ] recoverable upon payment or fulfilling a condition
Examples:

"redeemable goods in a pawnshop

Related terms: recoverable
3. [ adjective ] susceptible to improvement or reform
Synonyms: reformable
Examples:

"a redeemable sinner"

Related terms: corrigible