noun

remittance

/rɪˈmɪtəns/ · say it: rih·MIT·əns

money sent home by someone working abroad

In Banking & Finance

In more detail

1. (noun) money sent to someone in another place, especially money sent by a worker to their family in another country

2. (noun) the act of sending money to someone in another place

Examples

1. She sends a monthly remittance to her parents back home.
2. The remittance of funds should take 3-5 business days.

How to use remittance

Remittance is commonly used in economics, development, and migration contexts to refer to money that workers or migrants send back to their home countries or families. It is more formal and specific than the general term 'payment' and emphasizes the cross-border or cross-location nature of the transfer. The term is neutral and factual in tone, frequently appearing in policy and academic discussions.

Common phrases

send a remittance
remittance money
remittance service
remittance flow
international remittance
worker remittances

Synonyms

payment · transfer · money transfer · wire transfer · monetary transfer

Word family

remit (verb) · remitter (noun)

A common mistake

Learners sometimes use 'remittance' for any payment between people, but it typically implies sending money to a distant location, often across borders, rather than local or everyday payments.

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