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Definitions from WordNet

Definitions from the Web

Remittances

A remittance refers to a sum of money sent by a person working in a foreign country to their home country. These funds are typically sent to support the financial needs of family and friends.

As a noun:

1. A popular sense of remittances: Refers to the money that is sent back to the home country by migrants or expatriates.

Example sentence: The remittances sent by overseas workers play a significant role in boosting the receiving country's economy.

2. A local sense of remittances: In specific regions or localities, remittances can refer to money that is sent within the same country.

Example sentence: The remittances from urban areas to rural regions have helped stimulate economic growth in the countryside.

As a verb:

1. A popular sense of remittances: Indicates the act of sending money to another country or region.

Example sentence: She regularly remits part of her salary to her family as remittances.

2. A local sense of remittances: Refers to sending money within the same country or region.

Example sentence: The company remits the salaries of its employees through a local online payment system.