remittance

payment / money transfer / payment sent

Noun

pl: remittances

This term carries a formal, transactional tone, typically associated with banking, accounting, or international finance. It describes the specific movement of funds from one party to another to settle a debt or provide support, rather than a general payment made in person. In a global economic context, the word frequently refers to the systemic flow of money from migrant workers to their home countries. This specific usage emphasizes the social and economic lifeline provided by these transfers to developing regions.

Meanings

Noun

A sum of money sent as payment for goods or services, or as a gift, typically sent by mail or electronic transfer.

"The company received a remittance for the outstanding invoice."

Noun

The act of sending money to a person or organization, often from a migrant worker to their family in their home country.

"The local economy relies heavily on the remittance of funds from citizens working abroad."

Last Updated: June 14, 2026•Report an Error