remittance

noun

re·​mit·​tance ri-ˈmi-tᵊn(t)s 

1

a

: a sum of money remitted

b

: an instrument by which money is remitted

2

: transmittal of money (as to a distant place)

Did you know?

Since the 14th century, the verb remit has afforded a variety of meanings, including "to lay aside (a mood or disposition)," "to release from the guilt or penalty of," "to submit or refer for consideration," and "to postpone or defer." It is derived from Latin mittere (meaning "to let go" or "to send"), which is also the root of the English verbs admit, commit, emit, omit, permit, submit, and transmit. Use of remittance in financial contexts referring to the release of money as payment isn't transacted until the 17th century.

Synonyms

• compensation
• consideration
• pay
• payment
• recompense
• remuneration
• requital

Examples of remittance in a Sentence

Remittance can be made by check or credit card.

she always mails in her remittance on time so she won't ever be charged a late fee on her electric bill

Recent Examples on the Web

Other merits from the global dispersion of the Indian workforce include the economic gains from an increase in remittances, Kumar added. —Amala Balakrishner, CNBC, 28 Nov. 2024

Data from the World Bank forecasts remittances to India to rise marginally from $123 billion last year to $124 billion this year and $129 billion in 2025, on the back of stronger labor markets in the U.S. and Europe. —Amala Balakrishner, CNBC, 28 Nov. 2024

If they are massively deported, Mexico could see tens of thousands of its countrymen and women deported home without jobs, no longer able to send the remittances that keep many Mexican households afloat. —Lauren Villagran, USA TODAY, 26 Nov. 2024

This decrease is due to efforts to lower direct costs for remittance. —Quartz Bot, Quartz, 19 Nov. 2024

Word History

Etymology

remit entry 1 + -ance

First Known Use

1672, in the meaning defined at sense 1a

Phrases Containing remittance

• remittance man

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Kids Definition

remittance

noun

re·​mit·​tance ri-ˈmit-ᵊn(t)s 

1

: money sent especially in payment

2

: a sending of money (as to a distant place)

Legal Definition

remittance

noun

re·​mit·​tance ri-ˈmit-ᵊns 

1

a

: a sum of money remitted

b

: an instrument by which money is remitted

2

: transmittal of money (as to a distant place)