any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.
any money received that is neither a payment for goods or services nor investment income.
Read more in this article about some frequently asked questions and fun facts related to our definitions.
Essential Car-Sales Lingo To Know On The Lot
Origin of transfer payment
First recorded in 1940–45
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
(usually plural) money received by an individual or family from the state or other body, often a pension or unemployment benefit. It is not reckoned when calculating the national income as it is money transferred rather than paid for merchandise or a service rendered
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.