remittance

/rɪˈmɪtəns/ noun

Definition

› [C] FINANCE, COMMERCE an amount of money that is sent somewhere as payment for something: Complete the membership form and send it to the address below, together with your remittance for the membership fee.

› [U] FINANCE, COMMERCE the act of sending money somewhere as payment for something: remittance of sth The bank permits remittance of dividends to non-resident shareholders. remittance fees/service

remittances [plural] › ECONOMICS money that is sent by a foreign worker back to their own country: Immigrants sent $45 billion in remittances to Latin America last year. About 1.5 million Dominicans live in the United States and help the economy by sending remittances back home.

→ See Note invoice

(Definition of remittance noun from the Cambridge Business English Dictionary © Cambridge University Press)

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