A regenerative pump has a pump housing and a disc-like impeller mounted in the pump housing for axial movement therein and rotated by an electric motor. The impeller is provided with circumferential rows of vane grooves formed in the end faces of the impeller adjacent to the outer periphery thereof. The pump housing has inner surfaces closely spaced from the impeller end faces. Circumferentially continuous annular projections or circumferentially discontinuous projections are formed on either the impeller end faces or the housing inner surfaces to keep at least the major surface areas of the impeller end faces closely spaced from the mating inner surfaces of the housing. Axial passages extend through the impeller to equalize fluid pressures on the opposite impeller end faces.