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remittance - 5 dictionary results

re⋅mit⋅tance

[ri-mit-ns]
–noun
1. the sending of money, checks, etc., to a recipient at a distance.
2. money or its equivalent sent from one place to another.

Origin:
1695–1705; remit + -ance
re·mit·tance   (rĭ-mĭt'ns)   
n.  
  1. The sending of money to someone at a distance.
  2. The sum of money sent.

Remittance

Re*mit"tance\ (r?-m?t"tans), n. 1. The act of transmitting money, bills, or the like, esp. to a distant place, as in satisfaction of a demand, or in discharge of an obligation.

2. The sum or thing remitted. --Addison.
Language Translation for : remittance
Spanish: giro,
German: die Überweisung,
Japanese: 送金

Remittance

The process of sending money to remove an obligation. This is most often done through an electronic network, wire transfer or mail. The term also refers to the amount of money being sent to remove the obligation.

Investopedia Commentary

When a person sends a check to the government to pay for a tax bill, the check is remittance to remove the tax obligation. If you were to send money to a friend in Europe through a wire-transfer service, the sum of the payment is the remittance.

Related Links

What Is Money?

See also: Bank, Debt, Obligation, Retail Banking, Transfer Payment, Wire Transfer

Also spelled: remmitance, remitence, remittence


Main Entry: re·mit·tance
Pronunciation: ri-'mit-&ns
Function: noun
1 a : a sum of money remitted b : an instrument by which money is remitted
2 : transmittal of money (as to a distant place)
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