remittance

American  

[ri-mit-ns] / rɪˈmɪt ns /

noun

1. the sending of money, checks, etc., to a recipient at a distance.

2. money or its equivalent sent from one place to another.

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remittance British  

/ rɪˈmɪtəns /

noun

1. payment for goods or services received or as an allowance, esp when sent by post

2. the act of remitting

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Other Word Forms

• preremittance noun

Etymology

Origin of remittance

First recorded in 1695–1705; remit + -ance

Example Sentences

Hondurans working in the U.S. have sent some $10 billion in remittances so far this year, more than the whole of 2024, according to government data.

From The Wall Street Journal

Economic growth is sluggish and depends heavily on remittances from Hondurans working abroad.

From The Wall Street Journal

Big banks, which have been exploring ways to issue a stablecoin, have also intensified their competition with traditional remittance service providers.

From The Wall Street Journal

Last quarter, it launched international remittances through the blockchain, moving one step closer to re-entering the world of cryptocurrency after a two-year hiatus.

From Barron's

It is still the top individual destination and remittances are an economic lifeline in the poorest parts of the region.

From Barron's

Related Words

• amount
• award
• cash
• deposit
• disbursement
• fee
• outlay
• pension
• premium
• refund
• reimbursement
• reparation
• repayment
• restitution
• return
• reward
• royalty
• salary
• settlement
• subsidy