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  2. Dictionary

    re·mit·tance
    [rəˈmitns]
    noun
    remittance (noun) · remittances (plural noun)
    1. a sum of money sent, especially by mail, in payment for goods or services or as a gift:
      "complete your booking form and send it together with your remittance"
      • the action of sending money in payment:
        "remittance may be made by credit card"
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  3. People also ask
    What is a remittance in banking?A remittance is a sum of money transferred from one party to another – typically abroad. The term is derived from the word remit, which means to send back. According to most definitions, to remit is to send money in payment of a demand, account, or draft so, broadly speaking, any payment of an invoice or a bill can be called a remittance.
    How do remittances work?However, most remittances involve sending money to relatives. They are often sent by foreign workers to family members in their home countries. The most common way of making a remittance is by using an electronic payment system through a bank or an electronic money transfer service such as Western Union.
    When was remittance first used?Use of remittance in financial contexts referring to the release of money as payment isn't transacted until the 17th century. Remittance can be made by check or credit card. she always mails in her remittance on time so she won't ever be charged a late fee on her electric bill
    What is the synonym of remittance?Synonyms for remittance. compensation, consideration, pay, payment, recompense, remuneration, requital. 2 the act of offering money in exchange for goods or services.
     
  4. It is derived from Latin mittere (meaning "to let go" or "to send"), which is also the root of the English verbs admit, commit, emit, omit, permit, submit, and transmit. Use of remittance in financial contexts referring to the release of money as payment isn't transacted until the 17th century.
    www.merriam-webster.com/dictionary/remittance
    A remittance is money that is sent from one party to another. Broadly speaking, any payment of an invoice or a bill can be called a remittance. However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to their family back home. The term is derived from the word remit, which means to send back.
    www.investopedia.com/terms/r/remittance.asp
     
  5. Remittance Definition & Meaning - Merriam-Webster

     
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