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English definition of “remittance”

remittance

noun     /rɪˈmɪtəns/
[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.
(Definition of remittance noun from the Cambridge Business English Dictionary © Cambridge University Press)
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