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"to recompense" is correct and usable in written English.
You can use it when you want to say that something is done to repay someone for their effort or loss. For example, "The company offered them a financial recompense for their troubles."
Dictionary
to recompense
verb
To reward or repay (someone) for something done, given etc.
Exact(42)
I doubt he will ever see fit to recompense me.
To make him leave, Lurie agreed to recompense Perry for the cost of the shoot.
But it feared that the DWP would refuse to recompense it for payments ruled illegal.
"We should do everything we can to recompense for the attacks".
He is rich, and offers to recompense Pearl if she conspires with him in his lovelorn plan to carry Holland off.
A Syria before Jamil Assad – Bashar's uncle – allowed Iranian officials to enter our borders gleefully with their sackfuls of cash to recompense conversions.
Similar(17)
A new regulator, the Independent Press Standards Organisation (Ipso), opens its doors to offer recompense to people who believe they have been unfairly treated by newspapers and magazines.
This course of action would have had obvious benefits for AIG's shareholders, a group that included Mr Greenberg.The prospect of having to pay recompense to a company that has already cost taxpayers billions strikes many in Congress as nauseating.
Funding refers to recompensing delivery of healthcare services by healthcare providers via retrospective (e.g. fee-for-service or bundled payment) or prospective (e.g. capitation) payment contracts.
In feudal society, an offender was required to make recompense, or satisfaction, to the one offended according to that person's status.
We are not yet in a position to be able to offer any recompense to our creditors and as such a six-point deduction was what we expected.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com