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

Indian visa workers are often promised Green Card sponsorship in exchange for their loyalty to their employers, while the Indian government enjoys substantial remittances sent back by these workers, which constitute a significant portion of the country's GDP. —Dan Perry, Newsweek, 3 Jan. 2025

Despite Singapore’s high bank penetration, there are still gaps in areas like SME banking, gig worker financial services, and affordable cross-border remittances. —Zennon Kapron, Forbes, 19 Dec. 2024

Across the globe, millions use stablecoins for remittance payments, everyday transactions, and as a hedge against the volatility of local currencies by accessing the relative stability of the U.S. dollar. —Leeor Shimron, Forbes, 23 Dec. 2024

The online remittance service based in Seattle gauged how many hours respondents worked, the length of their commute, their sleep schedule, the length of their workday, and their overall level of work-life satisfaction. —Chloe Berger, Fortune, 20 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)