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

World & Nation Mexico is bracing for a new Trump presidency after threats of tariffs, deportations, attacks Nov. 7, 2024 Mexican immigrants in the United States are also pillars of the Mexican economy, sending more than $60 billion annually in remittances back to their homeland. —Patrick J. McDonnell, Los Angeles Times, 21 Nov. 2024

Biden lifted the ban on flights and remittances and kept the rest intact. —Carmen Sesin, NBC News, 13 Nov. 2024

That decade witnessed the rapid expansion of migrant labor to the Gulf and the parallel growth of remittances sent home by migrant workers. —Lisa Anderson, Foreign Affairs, 1 Nov. 2022

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

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)