remittance

noun
re·​mit·​tance | \ ri-ˈmi-tᵊn(t)s How to pronounce remittance (audio) \

Definition of remittance

1a : a sum of money remitted
b : an instrument by which money is remitted
2 : transmittal of money (as to a distant place)

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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

In 2018, Nigeria received over $25 billion in remittances, a figure which exceeded the country's federal budget of $23.7 billion for that year. David Hundeyin, CNN, "Opinion: FBI fraud busts dent Nigeria's global reputation," 29 Aug. 2019 Facebook has been keen to plug Libra as a solution for remittances to poor countries and for the unbanked. Gregory Barber, WIRED, "Everyone Wants Facebook's Libra to Be Regulated. But How?," 18 July 2019 Cross border remittance is big business in Southeast Asia. Eamon Barrett, Fortune, "Thailand-based Velo Says Blockchain Will Revolutionize Remittance in South East Asia," 12 Aug. 2019 Mr Trump responded by threatening to tax the remittances that America’s Guatemalan diaspora sends home, which amounted to 12% of GDP last year, and to hit members of Guatemala’s congress with sanctions. R. E. | Tegucigalpa, The Economist, "Inside Donald Trump’s migration pact with the Guatemalan president," 27 July 2019 The agreement comes after Trump threatened Guatemala with tariffs and remittance fees earlier this week. Nicole Chavez, CNN, "Several Guatemalan boys were denied visas to attend a U-15 soccer championship in the US," 26 July 2019 By extension, remittance receivers also end up with less cash given high costs. Yomi Kazeem, Quartz Africa, "What does Facebook’s Libra currency mean for Africa?," 20 June 2019 Talukdar, the Loyola professor, said remittance typically comes in the form of family support, charitable donations or sponsoring a child, but Khan seems to have taken it to an extreme. Drew Broach, nola.com, "From Metairie to Murshidabad: This woman funds a school for India’s poor," 7 June 2019 The Fed payments to Treasury, called remittances, hit a record high in 2015 due to swelling interest income from its huge holdings of bonds purchased to help stimulate the economy after the financial crisis. Kate Davidson, WSJ, "Fed Sent Lower Remittances to U.S. Treasury in 2018," 10 Jan. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'remittance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of remittance

1672, in the meaning defined at sense 1a

History and Etymology for remittance

remit entry 1 + -ance

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Dictionary Entries near remittance

remissive

remit

remittal

remittance

remittance man

remittee

remittent

Statistics for remittance

Last Updated

7 Sep 2019

Look-up Popularity

Time Traveler for remittance

The first known use of remittance was in 1672

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More Definitions for remittance

remittance

noun

English Language Learners Definition of remittance

formal
: an amount of money that is sent as a payment for something
: the act of sending money as a payment for something

remittance

noun
re·​mit·​tance | \ ri-ˈmi-tᵊns How to pronounce remittance (audio) \

Kids Definition of remittance

: money sent in payment

remittance

noun
re·​mit·​tance | \ ri-ˈmit-ᵊns How to pronounce remittance (audio) \

Legal Definition of remittance

1a : a sum of money remitted
b : an instrument by which money is remitted
2 : transmittal of money (as to a distant place)

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