The Complete Vocabulary Builder Workbook by BETTER WORDS R. B. Skinner

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remittance

noun

/rɪˈmɪt(ə)ns/

IPA:

Dictionary definition of remittance

A sum of money sent or transferred, typically from one individual or entity to another, often across geographical distances.
"He sent a remittance to his family back home every month."

Detailed meaning of remittance

Remittances are commonly associated with financial support provided by immigrants or individuals working abroad to their families or loved ones in their home country. These funds are sent to help cover living expenses, education, healthcare, or other essential needs of the recipient. Additionally, remittances play a significant role in global economies, as they contribute to the financial stability of families and communities in regions with high emigration rates. Remittance services are typically offered by financial institutions, money transfer companies, or online platforms, facilitating secure and efficient money transfers between senders and recipients.

Example sentences containing remittance

1. The overseas worker eagerly awaited the monthly remittance from their family back home.
2. The company sent a timely remittance to cover the outstanding invoice.
3. The remittance arrived just in time to help pay the rent.
4. She used online banking to send a remittance to her sister for her birthday gift.
5. The charitable organization received a generous remittance from a philanthropic donor.
6. The bank processed the remittance smoothly, ensuring prompt delivery of funds.

History and etymology of remittance

The noun 'remittance' has its etymological origins in Latin and Old French. It comes from the Latin word 'remittere,' which means 'to send back' or 'to transmit.' In this context, it referred to sending money or funds to another location, often across distances. As Latin evolved into Old French, the term became 'remettre,' which retained the same sense of sending money. Eventually, 'remittance' made its way into English with a specific financial meaning, describing a sum of money sent or transferred, typically from one individual or entity to another, often across geographical distances. The etymology of 'remittance' effectively captures its historical association with the act of sending money, underscoring its role as a noun used to describe the transfer of funds from one party to another.

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Further usage examples of remittance

1. The migrant laborer's remittance was a lifeline for their family's basic needs.
2. The remittance was delayed due to a technical issue with the payment gateway.
3. The small business owner received a remittance from a satisfied customer.
4. The family expressed their gratitude for the consistent remittances that supported their education.
5. The remittance included a heartfelt note expressing love and support.
6. International students often rely on remittances from their parents to cover tuition and living expenses.
7. The organization facilitates remittances to help disaster-affected communities rebuild.
8. With each remittance, the bond between the separated lovers grew stronger.
9. She sent a remittance to her grandmother to assist with medical bills.
10. The remittance was made through a secure online platform for convenience and safety.
11. The artist sold their painting and received a remittance from the gallery.
12. The remittance covered the cost of repairing the damaged property.
13. The constant remittances from abroad enabled the family to improve their standard of living.
14. The nonprofit used the remittance to fund a local community project.