remittance Synonyms
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remittance Meaning
remittance (n)
a payment of money sent to a person in another place
remittance (n.)
The act of transmitting money, bills, or the like, esp. to a distant place, as in satisfaction of a demand, or in discharge of an obligation.
The sum or thing remitted.
remittance Sentence Examples
- The migrant workers sent remittances back home to support their families.
- The remittance industry facilitates the transfer of funds from abroad to developing countries.
- The government implemented a tax on remittances to generate additional revenue.
- Remittances are a vital source of income for many households in low-income countries.
- The rise of online remittance services has made it easier and cheaper to send money cross-border.
- The World Bank estimates that global remittances in 2023 will reach $630 billion.
- The remittance flow between countries can be affected by economic conditions and political instability.
- Remittances can contribute to economic growth and development in recipient countries.
- Banks and money transfer companies charge fees on remittances, which can be a significant cost for migrants.
- Governments often regulate the remittance industry to prevent money laundering and other illicit activities.
FAQs About the word remittance
a payment of money sent to a person in another placeThe act of transmitting money, bills, or the like, esp. to a distant place, as in satisfaction of a demand,
pay, compensation,payment, wage(s), reimbursement, reparation,salary, consideration, refund, repayment
nonpayment,nonpayment,, underpayment,underpayment
The migrant workers sent remittances back home to support their families.
The remittance industry facilitates the transfer of funds from abroad to developing countries.
The government implemented a tax on remittances to generate additional revenue.
Remittances are a vital source of income for many households in low-income countries.
