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

Immigrants who have been working in the country for decades and have more family in the country also tend to send remittances less often. —Ernesto Castañeda / The Conversation, Quartz, 24 Oct. 2024

Its platform offers consumers a modern interface for payment and remittance, as well as tools to refinance and use their home equity. —Ryan Lawler, Axios, 23 Oct. 2024

DeFi platforms and stablecoins are especially important for immigrants sending remittances, as crypto transactions are faster and cheaper than traditional wire transfers. —Tonya Evans, Forbes, 24 Sep. 2024

In reversing Obama’s policy of open engagement, Trump rolled back travel freedoms and impeded Cuban Americans from sending remittances to friends and relatives. —Richard Feinberg, Foreign Affairs, 5 Feb. 2021

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)