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- nounremittance (noun) · remittances (plural noun)
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- Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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/remittanceA 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
Remittance Definition & Meaning - Merriam-Webster
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