WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

	Enter your search terms Submit search form
	Web www.wordnet-online.com

Definitions from the Web

Remittance

Description

Remittance refers to the act of sending money or payment to someone, typically to a person in another country or a distant location. It is a financial transaction often used for family support, business transactions, or international trade.

Senses and Usages

Sense 1: Payment sent to someone in another location

Remittance can be used to describe the sending of money by an individual to their family or friends living in a different country. It is usually done to provide financial support or fulfill an obligation.

Example Sentence: I sent a remittance to my parents in India to help with their medical expenses.

Sense 2: Transfer of funds between businesses

In the business context, remittance represents the transfer of funds from one company to another for payment of goods or services received. It is a common practice in international trade.

Example Sentence: The supplier requested the remittance to be made within 30 days of receiving the products.

Sense 3: Sending money through a money transfer service

Remittance can also refer to the process of sending money through a money transfer service, such as Western Union or PayPal, to someone in a different location.

Example Sentence: She decided to use a remittance service to send money to her friend in Australia.

Sense 4: Local payment method in certain regions

In some regions, remittance can represent a local payment method specific to that area. It may involve traditional methods like money orders or newer digital payment platforms.

Example Sentence: The remittance system in the rural village allows residents to send money to nearby towns securely.

Possible Related Products on Amazon:

• Remittance Money Transfer
• Remittance Services
• Remittance Platforms