Your refresh is the minimum number of fate points (page XX) your character begins with at the start of each session. Your character begins with a refresh of 3.

Each session, you start with fate points at least equal to your refresh. Be sure to keep track of the fate points you have left at the end of each session of play—if you have more fate points than your refresh, you’ll start the next session with the fate points you ended this session with.

Charles earned a lot of fate points during today’s session, ending it with 5 fate points. His refresh is 2, so Charles will start the next session with 5 fate points. But Ethan ends the same session with just one fate point. His refresh is 3, so he’ll begin the next session with 3 fate points, not just the one he had left over.