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

Cuba Trump reversed many of Barack Obama’s executive orders liberalizing trade and travel to Cuba, banning U.S. flights to most Cuban cities and limiting remittances. —Carmen Sesin, NBC News, 13 Nov. 2024

In five Mexican states, remittances make up 10% or more of annual GDP. —Kate Linthicum, Los Angeles Times, 1 Nov. 2024

Several studies indicate that remittances constitute 17.5% of immigrants’ income. —Ernesto Castañeda / The Conversation, Quartz, 24 Oct. 2024

Roger Huang is one of the first writers in 2014 to write about the intersection of Bitcoin in remittance payments and drug policy with VentureBeat and ... —Roger Huang, Forbes, 18 Sep. 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)