remittance

Meanings

• Noun

  The act of sending money or making a payment to someone or some organization, typically from a foreign country.

  - "He made a large remittance to his family back in India."
  - "The company received a remittance from its subsidiary in Europe."

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Rhymes

Words rhyming with remittance
commitment , remuneration

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Variants

List of all variants of remittance that leads to same result
remittance , remittances , remittance man , remittance men

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin word 'mittere' which means 'to send'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. In 2018, global remittances totaled over $689 billion.

2. The largest remittance-sending countries are the United States, the United Kingdom, and Saudi Arabia.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. International Money Transfer: A system for sending money across international borders.

2. Wire Transfer: A type of electronic funds transfer where money is sent from one person or entity to another through a financial institution.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In the context of international finance, remittances play a significant role in the economies of many countries, particularly those with large diaspora populations. Remittances can also refer to the return of capital or profits to a company or investor.

How to Memorize "remittance"

1. visualize
   

   - Imagine sending a check or making an online transfer to someone in another country.

2. associate
   

   - Associate the word with the act of sending money or making a payment.

3. mnemonics
   

   - Use the mnemonic 'Remember Money To India' to help remember the meaning of remittance.

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