personal finance
remittance
Money sent by a worker to their family or others in another country.
Example
"He sent monthly remittances to his family in his home country."
💡 Memory Tip
REMIT-tance — to REMIT means to send. A remittance is money you send (remit) somewhere.
Etymology
From Latin 'remittere' meaning 'to send back' — sending money back home.
Common Misspellings
remitanceremitenceremittenceremitanse
Related Terms
See Also
wire transferinternational banking