remittance

noun

re·​mit·​tance ri-ˈmi-tᵊn(t)s How to pronounce remittance (audio)
1
a
: a sum of money remitted
b
: an instrument by which money is remitted
2
: transmittal of money (as to a distant place)

Did you know?

Since the 14th century, the verb remit has afforded a variety of meanings, including "to lay aside (a mood or disposition)," "to release from the guilt or penalty of," "to submit or refer for consideration," and "to postpone or defer." It is derived from Latin mittere (meaning "to let go" or "to send"), which is also the root of the English verbs admit, commit, emit, omit, permit, submit, and transmit. Use of remittance in financial contexts referring to the release of money as payment isn't transacted until the 17th century.

Examples of remittance in a Sentence

Remittance can be made by check or credit card. she always mails in her remittance on time so she won't ever be charged a late fee on her electric bill
Recent Examples on the Web Tens of thousands of Nepalis travel to Gulf countries for work every year, with international remittances amounting to nearly 23% of the country’s GDP. Sugam Pokharel, CNN, 11 Feb. 2024 The World Bank reported that in 2022, overseas remittances back home accounted for 23 percent of Nepal’s gross domestic product. Anna Schecter, NBC News, 10 Oct. 2023 Authorities believe the syndicate received remittances from India in name of exporting electronic devices, diamonds, gems and precious metals, Ip said. Kanis Leung, Quartz, 16 Feb. 2024 But the halt on the processing of remittances suggests the effects of the cyber attack might been broader than publicly announced. Nora Gámez Torres, Miami Herald, 15 Feb. 2024 But there has been no celebration among the millions of Mexicans who rely on remittances — including most of the 2,300 residents of San Bartolomé Quialana. Patrick J. McDonnell, Los Angeles Times, 5 Sep. 2023 More than 500 charter flights landed from June to November, mostly from Haiti and Cuba, according to Manuel Orozco, director of the migration, remittances and development program at the Inter-American Dialogue. Baba Ahmed, Fortune, 2 Mar. 2024 Enough time has passed since Venezuelans started leaving the country en masse that migrants are now in a position to send remittances, boosting the purchasing power of those who have stayed. Gisela Salim-Peyer, The Atlantic, 17 Feb. 2024 The city was unable to provide details by the deadline on the remittance of taxes from dispensaries and how much revenue it’s estimated to receive. The Arizona Republic, 31 Jan. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'remittance.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

Etymology

remit entry 1 + -ance

First Known Use

1672, in the meaning defined at sense 1a

Time Traveler
The first known use of remittance was in 1672

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Dictionary Entries Near remittance

Cite this Entry

“Remittance.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/remittance. Accessed 16 Apr. 2024.

Kids Definition

remittance

noun
re·​mit·​tance ri-ˈmit-ᵊn(t)s How to pronounce remittance (audio)
1
: money sent especially in payment
2
: a sending of money (as to a distant place)

Legal Definition

remittance

noun
re·​mit·​tance ri-ˈmit-ᵊns How to pronounce remittance (audio)
1
a
: a sum of money remitted
b
: an instrument by which money is remitted
2
: transmittal of money (as to a distant place)

More from Merriam-Webster on remittance

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